Hound Partners LLC Purchases Shares of 1,264,409 Lowe’s Companies, Inc. (LOW)
Hound Partners LLC purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,264,409 shares of the home improvement retailer’s stock, valued at approximately $110,952,000. Lowe’s Companies makes up 2.8% of Hound Partners LLC’s portfolio, making the stock its 13th largest position. Hound Partners LLC owned about 0.15% of Lowe’s Companies as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of LOW. Almanack Investment Partners LLC. acquired a new position in Lowe’s Companies during the 4th quarter worth approximately $106,000. ClariVest Asset Management LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at $118,000. Truewealth LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $128,000. Jacobi Capital Management LLC boosted its holdings in shares of Lowe’s Companies by 88.8% in the 1st quarter. Jacobi Capital Management LLC now owns 1,524 shares of the home improvement retailer’s stock valued at $129,000 after buying an additional 717 shares in the last quarter. Finally, Massey Quick Simon & CO. LLC boosted its holdings in shares of Lowe’s Companies by 56.4% in the 1st quarter. Massey Quick Simon & CO. LLC now owns 1,766 shares of the home improvement retailer’s stock valued at $155,000 after buying an additional 637 shares in the last quarter. Institutional investors own 72.93% of the company’s stock.
Shares of Lowe’s Companies stock opened at $99.46 on Thursday. The firm has a market cap of $82.02 billion, a price-to-earnings ratio of 22.66, a PEG ratio of 1.11 and a beta of 1.35. The company has a quick ratio of 0.18, a current ratio of 1.02 and a debt-to-equity ratio of 2.60. Lowe’s Companies, Inc. has a one year low of $70.76 and a one year high of $108.98.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 8th. Shareholders of record on Wednesday, July 25th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, July 24th. This represents a $1.92 dividend on an annualized basis and a yield of 1.93%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.41. Lowe’s Companies’s dividend payout ratio is presently 37.36%.
Several brokerages have recently issued reports on LOW. Credit Suisse Group set a $111.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Monday, May 14th. JPMorgan Chase & Co. restated a “neutral” rating and issued a $100.00 target price on shares of Lowe’s Companies in a report on Tuesday, March 6th. Morgan Stanley set a $115.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Thursday, May 24th. Royal Bank of Canada upped their target price on shares of Lowe’s Companies to $104.00 and gave the company an “outperform” rating in a report on Thursday, May 24th. Finally, Wedbush set a $92.00 target price on shares of Lowe’s Companies and gave the company a “hold” rating in a report on Thursday, May 24th. Two analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $100.79.
In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 12,362 shares of the company’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $99.56, for a total transaction of $1,230,760.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.30% of the stock is currently owned by corporate insiders.
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. 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.
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