Raymond James & Associates trimmed its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW) by 3.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 693,716 shares of the home improvement retailer’s stock after selling 25,548 shares during the period. Raymond James & Associates owned approximately 0.08% of Lowe's Companies worth $64,474,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors have also bought and sold shares of LOW. Barrow Hanley Mewhinney & Strauss LLC grew its stake in Lowe's Companies by 40.3% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 15,144,020 shares of the home improvement retailer’s stock valued at $1,210,613,000 after purchasing an additional 4,351,830 shares in the last quarter. Janus Henderson Group PLC grew its stake in Lowe's Companies by 1,457.8% in the second quarter. Janus Henderson Group PLC now owns 3,787,825 shares of the home improvement retailer’s stock valued at $293,669,000 after purchasing an additional 3,544,665 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its stake in Lowe's Companies by 2,147.5% in the third quarter. Amundi Pioneer Asset Management Inc. now owns 2,509,600 shares of the home improvement retailer’s stock valued at $200,617,000 after purchasing an additional 2,397,937 shares in the last quarter. Alyeska Investment Group L.P. grew its stake in Lowe's Companies by 196.8% in the third quarter. Alyeska Investment Group L.P. now owns 3,284,209 shares of the home improvement retailer’s stock valued at $262,540,000 after purchasing an additional 2,177,496 shares in the last quarter. Finally, Mackenzie Financial Corp purchased a new position in Lowe's Companies in the fourth quarter valued at about $178,251,000. 74.08% of the stock is currently owned by hedge funds and other institutional investors.
LOW has been the topic of a number of recent research reports. Guggenheim initiated coverage on Lowe's Companies in a research note on Tuesday, December 12th. They issued a “buy” rating and a $95.00 target price on the stock. Moffett Nathanson initiated coverage on Lowe's Companies in a research note on Monday, December 4th. They issued a “buy” rating on the stock. UBS Group boosted their target price on Lowe's Companies from $89.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, November 22nd. Robert W. Baird restated a “buy” rating and issued a $92.00 target price (up previously from $87.00) on shares of Lowe's Companies in a research note on Wednesday, November 22nd. Finally, Stifel Nicolaus boosted their target price on Lowe's Companies from $87.00 to $93.00 and gave the company a “buy” rating in a research note on Tuesday, November 21st. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $97.93.
Lowe's Companies (NYSE:LOW) last announced its earnings results on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share for the quarter, missing the consensus estimate of $0.87 by ($0.13). Lowe's Companies had a net margin of 5.02% and a return on equity of 65.17%. The business had revenue of $15.49 billion for the quarter, compared to the consensus estimate of $15.34 billion. During the same quarter in the previous year, the company earned $0.86 EPS. Lowe's Companies’s revenue for the quarter was down 1.8% compared to the same quarter last year. equities analysts forecast that Lowe's Companies, Inc. will post 5.47 earnings per share for the current year.
Lowe's Companies announced that its Board of Directors has authorized a stock repurchase plan on Friday, January 26th that allows the company to buyback $5.00 billion in shares. This buyback authorization allows the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.
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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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