Heritage Trust Co decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 36,100 shares of the home improvement retailer’s stock after selling 381 shares during the quarter. Lowe’s Companies comprises about 1.0% of Heritage Trust Co’s investment portfolio, making the stock its 27th biggest holding. Heritage Trust Co’s holdings in Lowe’s Companies were worth $6,866,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently made changes to their positions in the business. FMR LLC raised its stake in Lowe’s Companies by 10.7% during the fourth quarter. FMR LLC now owns 30,352,415 shares of the home improvement retailer’s stock valued at $4,871,866,000 after buying an additional 2,940,777 shares during the last quarter. Norges Bank purchased a new position in Lowe’s Companies during the fourth quarter valued at $1,285,445,000. Lazard Asset Management LLC raised its stake in Lowe’s Companies by 17.8% during the fourth quarter. Lazard Asset Management LLC now owns 6,502,725 shares of the home improvement retailer’s stock valued at $1,043,751,000 after buying an additional 982,465 shares during the last quarter. Morgan Stanley raised its stake in shares of Lowe’s Companies by 15.6% in the fourth quarter. Morgan Stanley now owns 5,819,866 shares of the home improvement retailer’s stock worth $934,149,000 after purchasing an additional 783,731 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its stake in shares of Lowe’s Companies by 1.3% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,860,084 shares of the home improvement retailer’s stock worth $459,076,000 after purchasing an additional 37,586 shares during the last quarter. Institutional investors and hedge funds own 73.57% of the company’s stock.
Several research firms have recently weighed in on LOW. Royal Bank of Canada boosted their price target on Lowe’s Companies from $234.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, May 20th. Gordon Haskett upgraded Lowe’s Companies from an “accumulate” rating to a “buy” rating and set a $202.00 price target for the company in a research note on Thursday, February 25th. Morgan Stanley lifted their price objective on Lowe’s Companies from $222.00 to $230.00 and gave the stock an “overweight” rating in a report on Monday, May 24th. Credit Suisse Group lifted their price objective on Lowe’s Companies from $188.00 to $205.00 and gave the stock an “outperform” rating in a report on Tuesday, May 25th. Finally, Robert W. Baird lifted their price objective on Lowe’s Companies from $230.00 to $235.00 and gave the stock an “outperform” rating in a report on Thursday, May 20th. Five investment analysts have rated the stock with a hold rating and twenty-seven have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $199.55.
LOW stock traded up $0.93 during midday trading on Friday, reaching $189.71. 97,730 shares of the company traded hands, compared to its average volume of 4,086,823. Lowe’s Companies, Inc. has a 52-week low of $123.09 and a 52-week high of $215.22. The company has a quick ratio of 0.37, a current ratio of 1.17 and a debt-to-equity ratio of 49.23. The stock’s 50 day simple moving average is $197.17. The firm has a market cap of $134.10 billion, a price-to-earnings ratio of 20.56, a price-to-earnings-growth ratio of 1.29 and a beta of 1.35.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, May 18th. The home improvement retailer reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.58 by $0.63. The firm had revenue of $24.42 billion for the quarter, compared to analysts’ expectations of $22.91 billion. Lowe’s Companies had a return on equity of 296.41% and a net margin of 7.23%. The company’s quarterly revenue was up 24.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.77 earnings per share. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 10.76 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 4th. Stockholders of record on Wednesday, July 21st will be paid a dividend of $0.80 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.60. The ex-dividend date is Tuesday, July 20th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.69%. Lowe’s Companies’s dividend payout ratio is currently 27.09%.
Lowe’s Companies Company Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, dÃ©cor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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