Lowe’s Companies, Inc. (LOW) Stake Decreased by Optimum Investment Advisors
Optimum Investment Advisors cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.1% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,878 shares of the home improvement retailer’s stock after selling 600 shares during the period. Optimum Investment Advisors’ holdings in Lowe’s Companies were worth $611,000 as of its most recent SEC filing.
Other institutional investors have also made changes to their positions in the company. SRS Capital Advisors Inc. grew its stake in shares of Lowe’s Companies by 0.4% during the first 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 first quarter valued at about $103,000. State of Alaska Department of Revenue grew its stake in Lowe’s Companies by 8.3% in the second 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. Balentine LLC acquired a new position in Lowe’s Companies in the first quarter worth about $120,000. Finally, Proficio Capital Partners LLC grew its stake in Lowe’s Companies by 140.4% in the first quarter. Proficio Capital Partners LLC now owns 1,589 shares of the home improvement retailer’s stock worth $127,000 after purchasing an additional 928 shares in the last quarter. Institutional investors own 74.38% of the company’s stock.
Lowe’s Companies, Inc. (LOW) opened at $80.22 on Friday. Lowe’s Companies, Inc. has a 52-week low of $67.77 and a 52-week high of $86.25. 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 firm has a market cap of $66,810.00, 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 (NYSE:LOW) last posted its quarterly earnings data 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). The firm had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.58 billion. Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.37 earnings per share. equities analysts anticipate that Lowe’s Companies, Inc. will post 4.5 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 46.20%.
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A number of research firms recently commented on LOW. Longbow Research reiterated a “buy” rating and issued a $95.00 price target on shares of Lowe’s Companies in a research note on Monday, August 14th. Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 price target on shares of Lowe’s Companies in a research note on Thursday, September 28th. Zacks Investment Research cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, November 7th. Piper Jaffray Companies reissued a “hold” rating and issued a $80.00 target price on shares of Lowe’s Companies in a report on Friday, September 29th. Finally, Gordon Haskett assumed coverage on shares of Lowe’s Companies in a report on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 target price on the stock. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $85.62.
In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of Lowe’s Companies stock in a transaction 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 sale, the senior vice president now owns 30,750 shares of the company’s stock, valued at approximately $2,407,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Paul D. Ramsay sold 2,098 shares of Lowe’s Companies stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total transaction of $163,685.96. Following the sale, the insider now directly owns 8,400 shares of the company’s stock, valued at approximately $655,368. The disclosure for this sale can be found here. Company 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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