Bridges Investment Management Inc. Has $9.27 Million Holdings in Lowe’s Companies, Inc. (LOW)

Bridges Investment Management Inc. raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 8.8% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 97,036 shares of the home improvement retailer’s stock after acquiring an additional 7,851 shares during the quarter. Bridges Investment Management Inc.’s holdings in Lowe’s Companies were worth $9,273,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Almanack Investment Partners LLC. bought a new position in shares of Lowe’s Companies in the second quarter valued at approximately $103,000. CSat Investment Advisory L.P. bought a new position in shares of Lowe’s Companies in the second quarter valued at approximately $108,000. ClariVest Asset Management LLC bought a new position in shares of Lowe’s Companies in the first quarter valued at approximately $118,000. Rainier Group Investment Advisory LLC bought a new position in shares of Lowe’s Companies in the first quarter valued at approximately $121,000. Finally, NuWave Investment Management LLC bought a new position in shares of Lowe’s Companies in the second quarter valued at approximately $126,000. Hedge funds and other institutional investors own 74.13% of the company’s stock.

A number of equities analysts have recently commented on the stock. Wells Fargo & Co reissued a “buy” rating on shares of Lowe’s Companies in a research report on Thursday. Argus lifted their price target on shares of Lowe’s Companies to $120.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Royal Bank of Canada lifted their price target on shares of Lowe’s Companies to $118.00 and gave the company an “outperform” rating in a research report on Thursday, August 23rd. Deutsche Bank lifted their price target on shares of Lowe’s Companies to $118.00 and gave the company a “buy” rating in a research report on Thursday, August 23rd. Finally, SunTrust Banks lifted their price target on shares of Lowe’s Companies to $110.00 and gave the company a “hold” rating in a research report on Thursday, August 23rd. Ten research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $111.41.

Shares of LOW stock opened at $112.75 on Friday. Lowe’s Companies, Inc. has a 1 year low of $75.36 and a 1 year high of $114.54. The firm has a market cap of $92.29 billion, a P/E ratio of 25.68, a P/E/G ratio of 1.53 and a beta of 1.40. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.25 and a current ratio of 1.06.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.05. The business had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. Lowe’s Companies’s revenue was up 7.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.57 earnings per share. analysts predict that Lowe’s Companies, Inc. will post 5.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Wednesday, October 24th will be issued a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Tuesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.74%.

In other Lowe’s Companies news, Director Lisa W. Wardell purchased 273 shares of the stock in a transaction on Friday, August 24th. The shares were purchased at an average price of $107.72 per share, with a total value of $29,407.56. Following the acquisition, the director now directly owns 273 shares of the company’s stock, valued at approximately $29,407.56. The transaction was disclosed in a document filed with the SEC, which is available at this link. Insiders own 0.30% of the company’s stock.

Lowe’s Companies Profile

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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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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