Markston International LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 117,970 shares of the home improvement retailer’s stock after selling 4,104 shares during the quarter. Lowe’s Companies accounts for approximately 1.5% of Markston International LLC’s holdings, making the stock its 24th biggest holding. Markston International LLC’s holdings in Lowe’s Companies were worth $13,545,000 at the end of the most recent quarter.
A number of other institutional investors have also made changes to their positions in the business. Boston Partners grew its holdings in shares of Lowe’s Companies by 382.4% in the 2nd quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock worth $457,230,000 after purchasing an additional 3,792,479 shares during the last quarter. Winslow Capital Management LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter worth about $303,908,000. Charles Schwab Investment Advisory Inc. bought a new stake in shares of Lowe’s Companies in the 2nd quarter worth about $266,540,000. Artisan Partners Limited Partnership bought a new stake in shares of Lowe’s Companies in the 2nd quarter worth about $206,665,000. Finally, Cornerstone Wealth Management LLC grew its holdings in shares of Lowe’s Companies by 9,531.7% in the 2nd quarter. Cornerstone Wealth Management LLC now owns 851,443 shares of the home improvement retailer’s stock worth $8,975,000 after purchasing an additional 842,603 shares during the last quarter. 74.59% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE LOW opened at $96.82 on Friday. The stock has a market cap of $81.31 billion, a P/E ratio of 19.92, a P/E/G ratio of 1.35 and a beta of 1.52. 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, Inc. has a 12-month low of $77.14 and a 12-month high of $117.70.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.05. The business had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.57 EPS. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 5.18 earnings per share for the current fiscal year.
The business also recently declared 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 yield of 1.98%. Lowe’s Companies’s dividend payout ratio (DPR) is 43.74%.
In other Lowe’s Companies news, CFO Marshall A. Croom sold 15,735 shares of the company’s stock in a transaction dated Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total transaction 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Lisa W. Wardell bought 273 shares of the business’s stock in a transaction on Friday, August 24th. The shares were acquired at an average price of $107.72 per share, for a total transaction of $29,407.56. Following the completion of the transaction, the director now owns 273 shares in the company, valued at approximately $29,407.56. The disclosure for this purchase can be found here. 0.30% of the stock is owned by corporate insiders.
Several equities research analysts have recently weighed in on LOW shares. Morgan Stanley lowered their target price on shares of Lowe’s Companies from $125.00 to $110.00 and set an “overweight” rating on the stock in a report on Tuesday, October 23rd. Citigroup raised shares of Lowe’s Companies from a “neutral” rating to a “buy” rating and set a $112.00 target price on the stock in a report on Tuesday, October 23rd. Royal Bank of Canada upped their target price on shares of 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 shares of 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 shares of Lowe’s Companies and gave the stock a “neutral” rating in a report on Monday, October 15th. Nine analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company’s stock. Lowe’s Companies has an average rating of “Buy” and a consensus price target of $112.41.
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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