Lowe’s Cos. (LOW) Position Held by BTIM Corp.
BTIM Corp. continued to hold its stake in shares of Lowe’s Cos. (NYSE:LOW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 11,513 shares of the home improvement retailer’s stock at the end of the second quarter. BTIM Corp.’s holdings in Lowe’s Cos. were worth $911,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. CWM LLC boosted its position in Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock worth $100,000 after buying an additional 4 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new position in Lowe’s Cos. during the second quarter worth $103,000. Harel Insurance Investments & Financial Services Ltd. bought a new position in Lowe’s Cos. during the second quarter worth $110,000. Global X Management Co. LLC boosted its position in Lowe’s Cos. by 623.3% in the second quarter. Global X Management Co. LLC now owns 1,555 shares of the home improvement retailer’s stock worth $123,000 after buying an additional 1,340 shares during the last quarter. Finally, Washington Trust Bank boosted its position in Lowe’s Cos. by 13.6% in the second quarter. Washington Trust Bank now owns 1,596 shares of the home improvement retailer’s stock worth $126,000 after buying an additional 191 shares during the last quarter. 75.48% of the stock is owned by institutional investors and hedge funds.
Lowe’s Cos. (NYSE:LOW) traded down 0.25% during midday trading on Wednesday, hitting $71.19. 1,336,682 shares of the stock traded hands. The firm’s 50-day moving average is $76.99 and its 200-day moving average is $77.39. Lowe’s Cos. has a 52-week low of $62.62 and a 52-week high of $83.65. The company has a market cap of $62.27 billion, a price-to-earnings ratio of 23.08 and a beta of 1.07.
Lowe’s Cos. (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing the Zacks’ consensus estimate of $1.41 by $0.04. The company earned $18.26 billion during the quarter, compared to the consensus estimate of $18.42 billion. Lowe’s Cos. had a return on equity of 43.38% and a net margin of 4.58%. The company’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.20 earnings per share. Analysts predict that Lowe’s Cos. will post $4.02 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be issued a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Monday, October 17th. Lowe’s Cos.’s payout ratio is presently 45.16%.
A number of research firms have weighed in on LOW. Citigroup Inc. upgraded shares of Lowe’s Cos. to a “buy” rating and set a $90.00 target price on the stock in a research note on Thursday, May 26th. BTIG Research initiated coverage on shares of Lowe’s Cos. in a research note on Wednesday, June 1st. They set a “buy” rating and a $90.00 price target on the stock. Vetr cut shares of Lowe’s Cos. from a “buy” rating to a “hold” rating and set a $85.38 price target on the stock. in a research note on Thursday, July 28th. Jefferies Group restated a “hold” rating and set a $81.00 price target on shares of Lowe’s Cos. in a research note on Thursday, August 18th. Finally, Nomura set a $80.00 price target on shares of Lowe’s Cos. and gave the company a “hold” rating in a research note on Thursday, August 18th. Seven analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. Lowe’s Cos. currently has a consensus rating of “Buy” and a consensus target price of $85.74.
About Lowe’s Cos.
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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