Traders Buy Shares of Lowe’s Companies (LOW) on Weakness
Traders purchased shares of Lowe’s Companies, Inc. (NYSE:LOW) on weakness during trading on Thursday. $174.71 million flowed into the stock on the tick-up and $109.14 million flowed out of the stock on the tick-down, for a money net flow of $65.57 million into the stock. Of all equities tracked, Lowe’s Companies had the 4th highest net in-flow for the day. Lowe’s Companies traded down ($1.91) for the day and closed at $92.05
Several equities research analysts have commented on the stock. Bank of America set a $132.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Tuesday, October 2nd. Telsey Advisory Group raised their price objective on shares of Lowe’s Companies from $123.00 to $126.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Wedbush set a $115.00 target price on shares of Lowe’s Companies and gave the company a “neutral” rating in a research report on Monday, October 15th. Royal Bank of Canada upped their price target on shares of Lowe’s Companies to $105.00 and gave the company an “outperform” rating in a report on Thursday, December 13th. Finally, Loop Capital set a $130.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a research note on Wednesday, October 24th. Ten analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the stock. Lowe’s Companies currently has a consensus rating of “Buy” and a consensus price target of $111.65.
The company has a quick ratio of 0.18, a current ratio of 1.00 and a debt-to-equity ratio of 2.68. The firm has a market capitalization of $76.21 billion, a P/E ratio of 20.97, a PEG ratio of 1.32 and a beta of 1.35.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 6th. Stockholders of record on Wednesday, January 23rd will be issued a $0.48 dividend. The ex-dividend date is Tuesday, January 22nd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.09%. Lowe’s Companies’s payout ratio is currently 43.74%.
In related news, Director Brian C. Rogers purchased 10,000 shares of the stock in a transaction that occurred on Friday, November 23rd. The stock was acquired at an average price of $88.02 per share, with a total value of $880,200.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at approximately $880,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.30% of the stock is currently owned by company insiders.
Several institutional investors and hedge funds have recently bought and sold shares of LOW. Ironwood Financial llc grew its stake in Lowe’s Companies by 171.0% during the fourth quarter. Ironwood Financial llc now owns 542 shares of the home improvement retailer’s stock valued at $50,000 after acquiring an additional 342 shares in the last quarter. Contravisory Investment Management Inc. increased its holdings in Lowe’s Companies by 360.6% in the 4th quarter. Contravisory Investment Management Inc. now owns 654 shares of the home improvement retailer’s stock worth $60,000 after acquiring an additional 512 shares in the last quarter. Columbia Asset Management purchased a new position in shares of Lowe’s Companies in the third quarter valued at $109,000. Capital Advisors Ltd. LLC bought a new stake in Lowe’s Companies in the third quarter worth $116,000. Finally, Stelac Advisory Services LLC purchased a new position in shares of Lowe’s Companies during the third quarter valued at $123,000. Institutional investors own 74.40% of the company’s stock.
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Lowe’s Companies Company Profile (NYSE:LOW)
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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