Lowe’s Companies, Inc. (LOW) Stake Boosted by HighTower Advisors LLC
HighTower Advisors LLC grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 47.6% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 172,126 shares of the home improvement retailer’s stock after purchasing an additional 55,542 shares during the period. HighTower Advisors LLC’s holdings in Lowe’s Companies were worth $13,383,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vantage Financial Partners Ltd. Inc. acquired a new stake in shares of Lowe’s Companies during the 2nd quarter valued at $233,000. SRS Capital Advisors Inc. boosted its holdings in shares of 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 valued at $101,000 after acquiring an additional 5 shares in the last quarter. Harbour Capital Advisors LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter valued at $103,000. Hanson McClain Inc. boosted its holdings in shares of 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 valued at $110,000 after acquiring an additional 45 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its holdings in shares of 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 valued at $111,000 after acquiring an additional 110 shares in the last quarter. 74.38% of the stock is currently owned by institutional investors.
Several equities research analysts recently weighed in on LOW shares. BMO Capital Markets reissued a “buy” rating and set a $89.00 price objective on shares of Lowe’s Companies in a report on Thursday, July 20th. Zacks Investment Research raised Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Monday, September 11th. J P Morgan Chase & Co reaffirmed a “neutral” rating and set a $83.00 target price (down from $89.00) on shares of Lowe’s Companies in a report on Thursday, August 24th. Longbow Research reaffirmed a “buy” rating and set a $95.00 target price on shares of Lowe’s Companies in a report on Monday, August 14th. Finally, Morgan Stanley cut their target price on Lowe’s Companies from $88.00 to $81.00 and set an “overweight” rating on the stock in a report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $85.62.
Shares of Lowe’s Companies, Inc. (NYSE LOW) opened at $78.37 on Thursday. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.19 and a current ratio of 1.03. The company has a market capitalization of $65,270.00, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.13. Lowe’s Companies, Inc. has a twelve month low of $65.12 and a twelve month high of $86.25.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.05). The company had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.58 billion. Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the firm posted $1.37 earnings per share. sell-side analysts predict that Lowe’s Companies, Inc. will post 4.5 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio is currently 46.20%.
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In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of the business’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the sale, the senior vice president now directly owns 30,750 shares of the company’s stock, valued at approximately $2,407,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the business’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the sale, the insider now directly owns 8,400 shares of the company’s stock, valued at $655,368. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
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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