Investors Buy Shares of Lowe’s Companies, Inc. (LOW) on Weakness
Investors purchased shares of Lowe’s Companies, Inc. (NYSE:LOW) on weakness during trading hours on Tuesday. $139.44 million flowed into the stock on the tick-up and $104.04 million flowed out of the stock on the tick-down, for a money net flow of $35.40 million into the stock. Of all equities tracked, Lowe’s Companies had the 13th highest net in-flow for the day. Lowe’s Companies traded down ($3.42) for the day and closed at $74.30
A number of equities analysts have recently weighed in on LOW shares. Vetr downgraded Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 target price on the stock. in a report on Monday, May 8th. BMO Capital Markets reiterated a “buy” rating and issued a $89.00 target price on shares of Lowe’s Companies in a report on Friday, May 5th. Credit Suisse Group AG set a $94.00 target price on Lowe’s Companies and gave the company a “buy” rating in a report on Tuesday, May 2nd. Zacks Investment Research downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Wednesday, May 3rd. Finally, Jefferies Group LLC upped their target price on Lowe’s Companies from $80.00 to $94.00 and gave the company a “hold” rating in a report on Friday, May 12th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $85.63.
The stock has a 50 day moving average price of $76.67 and a 200 day moving average price of $79.53. The company has a market capitalization of $62.73 billion, a PE ratio of 23.30 and a beta of 1.08.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The company had revenue of $16.86 billion for the quarter, compared to analyst estimates of $16.99 billion. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The firm’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm earned $0.87 EPS. Equities analysts forecast that Lowe’s Companies, Inc. will post $4.62 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, August 9th. Shareholders of record on Wednesday, July 26th were given a dividend of $0.41 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.35. The ex-dividend date was Monday, July 24th. This represents a $1.64 annualized dividend and a dividend yield of 2.21%. Lowe’s Companies’s payout ratio is 51.57%.
In other Lowe’s Companies news, insider Richard D. Maltsbarger sold 11,672 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total transaction of $936,094.40. Following the transaction, the insider now owns 37,716 shares of the company’s stock, valued at approximately $3,024,823.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.11% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the company. SRS Capital Advisors Inc. raised its position in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after buying an additional 5 shares during the period. Washington Trust Bank raised its position in Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock valued at $102,000 after buying an additional 266 shares during the period. Harbour Capital Advisors LLC bought a new position in Lowe’s Companies during the first quarter valued at $103,000. State of Alaska Department of Revenue bought a new position in Lowe’s Companies during the first quarter valued at $109,000. Finally, Hanson McClain Inc. raised its position in Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after buying an additional 45 shares during the period. 74.65% of the stock is currently owned by hedge funds and other institutional investors.
About Lowe’s Companies
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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