Lowe’s Companies, Inc. (LOW) Shares Sold by Forte Capital LLC ADV
Forte Capital LLC ADV lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,817 shares of the home improvement retailer’s stock after selling 659 shares during the quarter. Lowe’s Companies makes up approximately 1.5% of Forte Capital LLC ADV’s holdings, making the stock its 17th largest holding. Forte Capital LLC ADV’s holdings in Lowe’s Companies were worth $4,405,000 at the end of the most recent reporting period.
Other institutional investors also recently bought and sold shares of the company. SRS Capital Advisors Inc. increased its position in Lowe’s Companies by 0.4% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after purchasing an additional 5 shares in the last quarter. Harbour Capital Advisors LLC purchased a new stake in Lowe’s Companies during the 1st quarter worth about $103,000. Hanson McClain Inc. increased its position in Lowe’s Companies by 3.5% during the 1st quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after purchasing an additional 45 shares in the last quarter. State of Alaska Department of Revenue increased its position in Lowe’s Companies by 8.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock worth $111,000 after purchasing an additional 110 shares in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Lowe’s Companies during the 1st quarter worth about $119,000. Hedge funds and other institutional investors own 74.20% of the company’s stock.
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Lowe’s Companies, Inc. (LOW) traded up 0.24% during trading on Friday, reaching $78.23. The company had a trading volume of 5,981,210 shares. The company has a market capitalization of $65.15 billion, a P/E ratio of 22.21 and a beta of 1.07. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25. The stock has a 50 day moving average of $76.25 and a 200-day moving average of $79.59.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.58 billion. During the same period in the previous year, the company earned $1.37 earnings per share. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. Equities research analysts expect that Lowe’s Companies, Inc. will post $4.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be paid a dividend of $0.41 per share. The ex-dividend date is Tuesday, October 24th. This represents a $1.64 annualized dividend and a dividend yield of 2.10%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 46.20%.
A number of analysts recently commented on the company. Longbow Research reiterated a “buy” rating and set a $95.00 price objective on shares of Lowe’s Companies in a research report on Monday, August 14th. Zacks Investment Research upgraded Lowe’s Companies from a “sell” rating to a “hold” rating in a research report on Thursday. Jefferies Group LLC reiterated a “hold” rating and set a $75.00 price objective (down previously from $89.00) on shares of Lowe’s Companies in a research report on Thursday, August 24th. Piper Jaffray Companies reiterated a “hold” rating and set a $80.00 price objective (down previously from $83.00) on shares of Lowe’s Companies in a research report on Thursday, August 24th. Finally, BMO Capital Markets cut Lowe’s Companies from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $89.00 to $82.00 in a research report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. Lowe’s Companies presently has an average rating of “Hold” and an average target price of $85.00.
In other news, insider Paul D. Ramsay sold 2,098 shares of the company’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total transaction of $163,685.96. Following the completion of the sale, the insider now owns 8,400 shares in the company, valued at approximately $655,368. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.
About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a FORTUNE 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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