Aperio Group LLC Raises Position in Lowe’s (LOW)
Aperio Group LLC increased its stake in Lowe’s (NYSE:LOW) by 2.2% during the 1st quarter, Holdings Channel reports. The firm owned 523,566 shares of the home improvement retailer’s stock after buying an additional 11,054 shares during the period. Aperio Group LLC’s holdings in Lowe’s were worth $45,943,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently modified their holdings of LOW. Buckingham Capital Management Inc. boosted its holdings in Lowe’s by 30.4% in the third quarter. Buckingham Capital Management Inc. now owns 41,046 shares of the home improvement retailer’s stock worth $3,281,000 after purchasing an additional 9,566 shares during the last quarter. Tandem Investment Advisors Inc. purchased a new stake in Lowe’s in the fourth quarter worth approximately $218,000. Gillespie Robinson & Grimm Inc. boosted its holdings in Lowe’s by 1.9% in the fourth quarter. Gillespie Robinson & Grimm Inc. now owns 182,155 shares of the home improvement retailer’s stock worth $16,929,000 after purchasing an additional 3,440 shares during the last quarter. Sit Investment Associates Inc. boosted its holdings in Lowe’s by 298.8% in the fourth quarter. Sit Investment Associates Inc. now owns 1,675 shares of the home improvement retailer’s stock worth $156,000 after purchasing an additional 1,255 shares during the last quarter. Finally, Franklin Street Advisors Inc. NC boosted its holdings in Lowe’s by 14.5% in the fourth quarter. Franklin Street Advisors Inc. NC now owns 5,048 shares of the home improvement retailer’s stock worth $469,000 after purchasing an additional 638 shares during the last quarter. Institutional investors own 73.15% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group set a $111.00 target price on shares of Lowe’s and gave the stock a “buy” rating in a report on Monday. Zacks Investment Research downgraded shares of Lowe’s from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Wells Fargo began coverage on shares of Lowe’s in a research report on Monday, April 23rd. They issued an “outperform” rating and a $100.00 price target on the stock. Gabelli began coverage on shares of Lowe’s in a research report on Wednesday, April 11th. They issued a “buy” rating and a $113.00 price target on the stock. Finally, JPMorgan Chase reiterated a “neutral” rating and issued a $100.00 price target on shares of Lowe’s in a research report on Tuesday, March 6th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $99.00.
Lowe’s (NYSE:LOW) last posted its earnings results on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.13). The company had revenue of $15.49 billion for the quarter, compared to analysts’ expectations of $15.34 billion. Lowe’s had a net margin of 5.02% and a return on equity of 65.17%. The business’s revenue was down 1.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.86 earnings per share. equities analysts forecast that Lowe’s will post 5.46 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Wednesday, May 9th. Investors of record on Wednesday, April 25th were paid a dividend of $0.41 per share. The ex-dividend date of this dividend was Tuesday, April 24th. This represents a $1.64 annualized dividend and a yield of 1.92%. Lowe’s’s payout ratio is 37.36%.
Lowe’s declared that its board has authorized a stock buyback plan on Friday, January 26th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the home improvement retailer to purchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company’s board believes its stock is undervalued.
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s (NYSE:LOW).
Receive News & Ratings for Lowe's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's and related companies with MarketBeat.com's FREE daily email newsletter.