Lowe’s Companies, Inc. (LOW) Shares Sold by Rothschild Asset Management Inc.
Rothschild Asset Management Inc. cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 16.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,502 shares of the home improvement retailer’s stock after selling 1,482 shares during the period. Rothschild Asset Management Inc.’s holdings in Lowe’s Companies were worth $617,000 as of its most recent SEC filing.
Other large investors have also bought and sold shares of the company. SRS Capital Advisors Inc. increased its stake 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 worth $101,000 after buying an additional 5 shares in the last quarter. Washington Trust Bank increased its stake 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 worth $102,000 after buying an additional 266 shares in the last quarter. State of Alaska Department of Revenue acquired a new stake in Lowe’s Companies during the first quarter worth approximately $109,000. Hanson McClain Inc. increased its stake 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 worth $110,000 after buying an additional 45 shares in the last quarter. Finally, First Bank & Trust increased its stake in Lowe’s Companies by 11.5% in the first quarter. First Bank & Trust now owns 1,421 shares of the home improvement retailer’s stock worth $117,000 after buying an additional 147 shares in the last quarter. Institutional investors own 74.65% of the company’s stock.
Lowe’s Companies, Inc. (NYSE:LOW) traded down 6.5981% during trading on Wednesday, reaching $70.8173. The company’s stock had a trading volume of 13,217,799 shares. The firm has a 50 day moving average of $76.37 and a 200 day moving average of $79.58. The stock has a market capitalization of $59.79 billion, a price-to-earnings ratio of 22.2067 and a beta of 1.08. Lowe’s Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25. Lowe’s Companies also was the target of some unusual options trading activity on Monday. Investors acquired 6,466 put options on the stock. This represents an increase of 538% compared to the average volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by $0.05. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.58 billion. During the same quarter in the prior year, the company earned $1.37 earnings per share. The company’s quarterly revenue was up 6.8% on a year-over-year basis. Analysts expect that Lowe’s Companies, Inc. will post $4.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be issued a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.64 annualized dividend and a yield of 2.16%. Lowe’s Companies’s dividend payout ratio is currently 51.57%.
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A number of equities research analysts have recently weighed in on LOW shares. Oppenheimer Holdings, Inc. set a $100.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday. Longbow Research reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Lowe’s Companies in a research note on Monday, August 14th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Friday, August 11th. BTIG Research reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Lowe’s Companies in a research note on Friday, August 18th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $94.00 price objective (down from $95.00) on shares of Lowe’s Companies in a research note on Sunday, May 28th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the stock. Lowe’s Companies presently has a consensus rating of “Hold” and a consensus target price of $85.69.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the transaction, the insider now directly owns 37,716 shares in the company, valued at $3,024,823.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.11% of the company’s stock.
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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