Chemical Bank trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 56,970 shares of the home improvement retailer’s stock after selling 1,975 shares during the quarter. Chemical Bank’s holdings in Lowe’s Companies were worth $6,541,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently modified their holdings of the company. Almanack Investment Partners LLC. bought a new stake in Lowe’s Companies in the second quarter worth approximately $103,000. CSat Investment Advisory L.P. bought a new stake in Lowe’s Companies in the second quarter worth approximately $108,000. Capital Advisors Ltd. LLC bought a new stake in Lowe’s Companies in the third quarter worth approximately $116,000. NuWave Investment Management LLC bought a new stake in Lowe’s Companies in the second quarter worth approximately $126,000. Finally, FNY Investment Advisers LLC bought a new stake in Lowe’s Companies in the second quarter worth approximately $127,000. Institutional investors own 74.59% of the company’s stock.
LOW has been the subject of a number of research analyst reports. Morgan Stanley lowered their target price on Lowe’s Companies from $125.00 to $110.00 and set an “overweight” rating for the company in a report on Tuesday, October 23rd. Citigroup upgraded Lowe’s Companies from a “neutral” rating to a “buy” rating and set a $112.00 target price for the company in a report on Tuesday, October 23rd. Royal Bank of Canada lifted their target price on Lowe’s Companies to $118.00 and gave the stock an “outperform” rating in a report on Thursday, August 23rd. Loop Capital set a $115.00 target price on Lowe’s Companies and gave the stock a “buy” rating in a report on Wednesday, July 18th. Finally, Wedbush set a $115.00 target price on Lowe’s Companies and gave the stock a “neutral” rating in a report on Monday, October 15th. Nine equities research analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $112.41.
Shares of Lowe’s Companies stock opened at $96.82 on Friday. The company has a quick ratio of 0.25, a current ratio of 1.06 and a debt-to-equity ratio of 2.58. Lowe’s Companies, Inc. has a 52 week low of $77.14 and a 52 week high of $117.70. The company has a market capitalization of $81.31 billion, a price-to-earnings ratio of 19.92, a PEG ratio of 1.35 and a beta of 1.52.
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, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.05. The company had revenue of $20.89 billion for the quarter, compared to analysts’ expectations of $20.79 billion. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. Lowe’s Companies’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.57 earnings per share. As a group, research analysts predict that Lowe’s Companies, Inc. will post 5.18 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 6th. Investors of record on Wednesday, January 23rd will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 1.98%. Lowe’s Companies’s payout ratio is 43.74%.
In related news, Director Lisa W. Wardell bought 273 shares of the business’s stock in a transaction that occurred on Friday, August 24th. The shares were bought at an average price 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 in the company, valued at $29,407.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Marshall A. Croom sold 15,735 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total value of $1,803,388.35. Following the transaction, the chief financial officer now directly owns 63,099 shares in the company, valued at approximately $7,231,776.39. The disclosure for this sale can be found here. 0.30% of the stock is owned by insiders.
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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