Armor Investment Advisors LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 30,689 shares of the home improvement retailer’s stock after selling 1,300 shares during the quarter. Lowe’s Companies makes up about 3.1% of Armor Investment Advisors LLC’s holdings, making the stock its 4th largest position. Armor Investment Advisors LLC’s holdings in Lowe’s Companies were worth $3,524,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Boston Partners increased its position in shares of Lowe’s Companies by 382.4% during the second quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock valued at $457,230,000 after acquiring an additional 3,792,479 shares during the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Lowe’s Companies during the second quarter valued at approximately $303,908,000. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Lowe’s Companies during the second quarter valued at approximately $266,540,000. Artisan Partners Limited Partnership purchased a new stake in shares of Lowe’s Companies during the second quarter valued at approximately $206,665,000. Finally, Cornerstone Wealth Management LLC increased its position in shares of Lowe’s Companies by 9,531.7% during the second quarter. Cornerstone Wealth Management LLC now owns 851,443 shares of the home improvement retailer’s stock valued at $8,975,000 after acquiring an additional 842,603 shares during the last quarter. Institutional investors own 74.59% of the company’s stock.
A number of brokerages recently commented on LOW. Goldman Sachs Group set a $125.00 price target on Lowe’s Companies and gave the company a “buy” rating in a research report on Friday, September 28th. Bank of America set a $132.00 price target on Lowe’s Companies and gave the company a “buy” rating in a research report on Tuesday, October 2nd. SunTrust Banks raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research report on Friday, September 28th. Telsey Advisory Group increased their price target on Lowe’s Companies from $123.00 to $126.00 and gave the company an “outperform” rating in a research report on Friday, September 28th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $130.00 price target (up from $120.00) on shares of Lowe’s Companies in a research report on Monday, September 17th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $112.41.
In other Lowe’s Companies news, CFO Marshall A. Croom sold 15,735 shares of the firm’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total value of $1,803,388.35. Following the completion of the sale, the chief financial officer now directly owns 63,099 shares of the company’s stock, valued at $7,231,776.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Lisa W. Wardell bought 273 shares of the firm’s stock in a transaction on Friday, August 24th. The stock was purchased at an average cost of $107.72 per share, with a total value of $29,407.56. Following the completion of the transaction, the director now directly owns 273 shares of the company’s stock, valued at $29,407.56. The disclosure for this purchase can be found here. Company insiders own 0.30% of the company’s stock.
NYSE:LOW opened at $96.82 on Friday. The company has a debt-to-equity ratio of 2.58, a current ratio of 1.06 and a quick ratio of 0.25. Lowe’s Companies, Inc. has a 1 year low of $77.14 and a 1 year high of $117.70. The firm has a market capitalization of $78.81 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.31 and a beta of 1.52.
Lowe’s Companies (NYSE:LOW) last released 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. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The business had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. During the same period last year, the business posted $1.57 earnings per share. The business’s revenue for the quarter was up 7.1% on a year-over-year basis. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 5.18 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 6th. Shareholders of record on Wednesday, January 23rd will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.98%. Lowe’s Companies’s dividend payout ratio is currently 43.74%.
About Lowe’s Companies
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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