Lowe’s Companies, Inc. (LOW) Shares Bought by Westpac Banking Corp
Westpac Banking Corp increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 131,035 shares of the home improvement retailer’s stock after buying an additional 3,059 shares during the period. Westpac Banking Corp’s holdings in Lowe’s Companies were worth $10,475,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in LOW. Vantage Financial Partners Ltd. Inc. bought a new stake in Lowe’s Companies in the 2nd quarter valued at about $233,000. Harbour Capital Advisors LLC bought a new stake in Lowe’s Companies in the 1st quarter valued at about $103,000. Atlantic Trust LLC bought a new stake in Lowe’s Companies in the 2nd quarter valued at about $105,000. IHT Wealth Management LLC boosted its holdings in Lowe’s Companies by 8.7% in the 2nd quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock valued at $154,000 after purchasing an additional 110 shares during the period. Finally, State of Alaska Department of Revenue boosted its holdings in Lowe’s Companies by 8.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after purchasing an additional 110 shares during the period. 73.40% of the stock is owned by institutional investors and hedge funds.
Lowe’s Companies, Inc. (NYSE:LOW) traded up $0.21 during mid-day trading on Monday, reaching $85.81. 761,968 shares of the company were exchanged, compared to its average volume of 5,977,356. The firm has a market cap of $71,027.50, a PE ratio of 18.98, a price-to-earnings-growth ratio of 1.37 and a beta of 1.15. Lowe’s Companies, Inc. has a twelve month low of $70.49 and a twelve month high of $88.55. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.12 and a current ratio of 1.02.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.02 by $0.03. The business had revenue of $16.77 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Lowe’s Companies had a net margin of 5.16% and a return on equity of 66.27%. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 EPS. analysts predict that Lowe’s Companies, Inc. will post 4.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio is 39.33%.
In other Lowe’s Companies news, insider Paul D. Ramsay sold 2,098 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the completion of the transaction, the insider now directly owns 8,400 shares in the company, valued at approximately $655,368. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Matthew V. Hollifield sold 7,853 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the transaction, the senior vice president now owns 30,750 shares of the company’s stock, valued at $2,407,725. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 13,303 shares of company stock valued at $1,047,406. Corporate insiders own 0.11% of the company’s stock.
A number of research firms have issued reports on LOW. Bank of America began coverage on shares of Lowe’s Companies in a report on Tuesday, September 5th. They issued a “buy” rating and a $95.00 price objective for the company. Piper Jaffray Companies reissued a “hold” rating and issued a $82.00 price objective on shares of Lowe’s Companies in a report on Friday, November 24th. Royal Bank Of Canada cut their price objective on shares of Lowe’s Companies from $85.00 to $81.00 and set an “outperform” rating for the company in a report on Thursday, August 24th. Stifel Nicolaus boosted their price objective on shares of Lowe’s Companies from $87.00 to $93.00 and gave the company a “buy” rating in a report on Tuesday, November 21st. Finally, BTIG Research reissued a “buy” rating and issued a $95.00 price objective on shares of Lowe’s Companies in a report on Friday, August 18th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $87.40.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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