Intact Investment Management Inc. boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 41,000 shares of the home improvement retailer’s stock after purchasing an additional 200 shares during the quarter. Intact Investment Management Inc.’s holdings in Lowe’s Companies were worth $4,908,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of LOW. Intersect Capital LLC increased its stake in shares of Lowe’s Companies by 4.4% during the fourth quarter. Intersect Capital LLC now owns 2,562 shares of the home improvement retailer’s stock valued at $307,000 after buying an additional 107 shares during the period. We Are One Seven LLC bought a new position in shares of Lowe’s Companies in the fourth quarter worth about $251,000. J.W. Cole Advisors Inc. bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at approximately $652,000. Bank of Hawaii raised its holdings in shares of Lowe’s Companies by 21.6% in the third quarter. Bank of Hawaii now owns 19,221 shares of the home improvement retailer’s stock worth $2,114,000 after buying an additional 3,416 shares during the period. Finally, Zeke Capital Advisors LLC increased its holdings in Lowe’s Companies by 5.5% during the 4th quarter. Zeke Capital Advisors LLC now owns 2,288 shares of the home improvement retailer’s stock worth $274,000 after purchasing an additional 120 shares during the period. Institutional investors and hedge funds own 75.15% of the company’s stock.
NYSE LOW traded up $5.53 on Thursday, reaching $89.25. The stock had a trading volume of 848,902 shares, compared to its average volume of 9,775,373. The firm has a market capitalization of $59.25 billion, a price-to-earnings ratio of 16.32, a P/E/G ratio of 0.81 and a beta of 1.26. The company has a quick ratio of 0.14, a current ratio of 1.01 and a debt-to-equity ratio of 10.50. Lowe’s Companies, Inc. has a 12-month low of $60.00 and a 12-month high of $126.73. The stock has a fifty day moving average price of $106.25 and a two-hundred day moving average price of $113.20.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, February 26th. The home improvement retailer reported $0.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.91 by $0.03. The company had revenue of $16.03 billion for the quarter, compared to analyst estimates of $16.13 billion. Lowe’s Companies had a return on equity of 173.56% and a net margin of 5.93%. The firm’s quarterly revenue was up 2.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 earnings per share. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 6.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Stockholders of record on Wednesday, April 22nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 2.46%. The ex-dividend date is Tuesday, April 21st. Lowe’s Companies’s dividend payout ratio is presently 38.46%.
In other news, CEO Marvin R. Ellison purchased 10,000 shares of the business’s stock in a transaction dated Friday, March 6th. The stock was bought at an average price of $103.86 per share, for a total transaction of $1,038,600.00. Following the purchase, the chief executive officer now owns 90,090 shares of the company’s stock, valued at $9,356,747.40. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.07% of the company’s stock.
Several brokerages have issued reports on LOW. Piper Sandler dropped their target price on Lowe’s Companies from $153.00 to $147.00 and set an “overweight” rating on the stock in a research report on Thursday, February 27th. Telsey Advisory Group reissued an “outperform” rating on shares of Lowe’s Companies in a research report on Friday, February 21st. Wells Fargo & Co lowered their price target on Lowe’s Companies from $140.00 to $90.00 and set an “overweight” rating for the company in a research report on Monday. Nomura lowered their price target on Lowe’s Companies from $132.00 to $100.00 and set a “buy” rating for the company in a research report on Thursday, March 19th. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $135.00 price target on shares of Lowe’s Companies in a research report on Wednesday, February 26th. Six research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $126.28.
Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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