Tredje AP fonden boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 12.0% in the first quarter, HoldingsChannel.com reports. The firm owned 56,593 shares of the home improvement retailer’s stock after acquiring an additional 6,059 shares during the period. Tredje AP fonden’s holdings in Lowe’s Companies were worth $4,325,000 as of its most recent SEC filing.
Other institutional investors have also recently made changes to their positions in the company. Islay Capital Management LLC bought a new position in Lowe’s Companies in the fourth quarter worth about $30,000. Filbrandt Wealth Management LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $29,000. Lionsbridge Wealth Management LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $30,000. IndexIQ Advisors LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $32,000. Finally, Total Clarity Wealth Management Inc. acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at about $34,000. Institutional investors and hedge funds own 76.15% of the company’s stock.
In other Lowe’s Companies news, CEO Marvin R. Ellison bought 10,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were purchased at an average price of $103.86 per share, for a total transaction of $1,038,600.00. Following the transaction, the chief executive officer now directly owns 90,090 shares of the company’s stock, valued at approximately $9,356,747.40. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.07% of the company’s stock.
LOW has been the topic of several recent analyst reports. Stifel Nicolaus upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their price objective for the company from $94.00 to $149.00 in a report on Wednesday. Nomura Instinet upped their price objective on shares of Lowe’s Companies from $125.00 to $130.00 and gave the company a “buy” rating in a report on Thursday. Wolfe Research upgraded shares of Lowe’s Companies from a “peer perform” rating to an “outperform” rating in a report on Wednesday, March 25th. SunTrust Banks upped their price objective on shares of Lowe’s Companies from $115.00 to $135.00 and gave the company a “buy” rating in a report on Thursday. Finally, Cfra upped their price objective on shares of Lowe’s Companies from $125.00 to $139.00 and gave the company a “buy” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-seven have issued a buy rating to the company’s stock. Lowe’s Companies currently has a consensus rating of “Buy” and an average target price of $132.54.
Lowe’s Companies stock traded up $1.61 during mid-day trading on Friday, hitting $122.25. The company had a trading volume of 6,063,492 shares, compared to its average volume of 6,207,421. The company has a current ratio of 1.20, a quick ratio of 0.14 and a debt-to-equity ratio of 14.05. Lowe’s Companies, Inc. has a 12-month low of $60.00 and a 12-month high of $126.73. The company’s fifty day moving average is $101.42 and its 200-day moving average is $110.02. The company has a market capitalization of $91.08 billion, a price-to-earnings ratio of 20.65, a P/E/G ratio of 1.33 and a beta of 1.38.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, May 20th. The home improvement retailer reported $1.77 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.32 by $0.45. Lowe’s Companies had a return on equity of 220.44% and a net margin of 6.17%. The business had revenue of $19.68 billion for the quarter, compared to analyst estimates of $18.33 billion. During the same quarter in the prior year, the firm posted $1.22 EPS. The business’s quarterly revenue was up 10.9% compared to the same quarter last year. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 5.97 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were given a $0.55 dividend. The ex-dividend date was Tuesday, April 21st. This represents a $2.20 annualized dividend and a yield of 1.80%. Lowe’s Companies’s dividend payout ratio is presently 38.46%.
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.
Further Reading: Straddles
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