Teachers Advisors LLC trimmed its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW) by 16.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,532,525 shares of the home improvement retailer’s stock after selling 302,423 shares during the period. Teachers Advisors LLC owned 0.18% of Lowe's Companies worth $142,433,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Almanack Investment Partners LLC. acquired a new stake in shares of Lowe's Companies in the 4th quarter valued at $106,000. Stonehearth Capital Management LLC acquired a new stake in shares of Lowe's Companies in the 4th quarter valued at $112,000. Atlantic Trust LLC acquired a new stake in shares of Lowe's Companies in the 2nd quarter valued at $105,000. IHT Wealth Management LLC increased its stake in shares of Lowe's Companies by 8.7% in the 2nd quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock valued at $154,000 after buying an additional 110 shares during the period. Finally, Truewealth LLC acquired a new stake in shares of Lowe's Companies in the 4th quarter valued at $128,000. 74.08% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently commented on LOW. Stifel Nicolaus reissued a “buy” rating and issued a $103.00 target price on shares of Lowe's Companies in a research note on Friday, December 22nd. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $100.00 price objective on shares of Lowe's Companies in a research note on Tuesday, March 6th. Wedbush reaffirmed a “hold” rating and set a $80.00 price objective (down from $85.00) on shares of Lowe's Companies in a research note on Thursday, March 1st. Zacks Investment Research cut Lowe's Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, March 6th. Finally, Deutsche Bank set a $107.00 price objective on Lowe's Companies and gave the stock a “buy” rating in a research note on Thursday, March 1st. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and twenty-two have issued a buy rating to the company. Lowe's Companies has an average rating of “Buy” and an average target price of $97.93.
Lowe's Companies (NYSE:LOW) last posted its earnings results on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.87 by ($0.13). The business had revenue of $15.49 billion for the quarter, compared to the consensus estimate of $15.34 billion. Lowe's Companies had a return on equity of 65.17% and a net margin of 5.02%. The business’s revenue was down 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.86 earnings per share. equities analysts predict that Lowe's Companies, Inc. will post 5.47 EPS for the current year.
Lowe's Companies announced that its Board of Directors has approved a share repurchase plan on Friday, January 26th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
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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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