Nationwide Fund Advisors Trims Holdings in Lowe’s Companies, Inc. (LOW)
Nationwide Fund Advisors trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 645,048 shares of the home improvement retailer’s stock after selling 14,736 shares during the quarter. Nationwide Fund Advisors owned about 0.08% of Lowe’s Companies worth $50,011,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. SRS Capital Advisors Inc. grew its holdings 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 purchasing an additional 5 shares during the period. Harbour Capital Advisors LLC acquired a new position in shares of Lowe’s Companies during the first quarter valued at about $103,000. Hanson McClain Inc. grew its holdings in shares of Lowe’s Companies by 3.5% during the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after buying an additional 45 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in shares of Lowe’s Companies by 8.3% during the second quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after buying an additional 110 shares during the last quarter. Finally, Balentine LLC acquired a new position in shares of Lowe’s Companies during the first quarter valued at about $120,000. Institutional investors and hedge funds own 74.36% of the company’s stock.
Shares of Lowe’s Companies, Inc. (LOW) opened at $77.92 on Friday. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25. The company has a debt-to-equity ratio of 2.85, a current ratio of 1.03 and a quick ratio of 0.19. The stock has a market cap of $65,219.04, a P/E ratio of 17.95, a PEG ratio of 1.27 and a beta of 1.13.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The business had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same period last year, the firm earned $1.37 EPS. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. sell-side analysts expect that Lowe’s Companies, Inc. will post 4.51 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.10%. The ex-dividend date is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio (DPR) is currently 46.20%.
A number of research analysts have recently issued reports on LOW shares. Bank of America Corporation started coverage on shares of Lowe’s Companies in a report on Tuesday, September 5th. They set a “buy” rating and a $95.00 price objective for the company. Zacks Investment Research cut shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a report on Monday, August 28th. Stifel Nicolaus reiterated a “buy” rating and set a $87.00 price objective on shares of Lowe’s Companies in a report on Friday, July 21st. Oppenheimer Holdings, Inc. set a $100.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Wednesday, August 23rd. Finally, Deutsche Bank AG reiterated a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Lowe’s Companies in a report on Friday, October 6th. Three research analysts have rated the stock with a sell rating, nine have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $85.21.
In other news, insider Paul D. Ramsay sold 2,098 shares of the business’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 sale, the insider now owns 8,400 shares of the company’s stock, valued at $655,368. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Matthew V. Hollifield sold 7,853 shares of the business’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 sale, the senior vice president now directly owns 30,750 shares in the company, valued at approximately $2,407,725. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
Lowe’s Companies Profile
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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