Unigestion Holding SA reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 43.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,818 shares of the home improvement retailer’s stock after selling 103,561 shares during the quarter. Unigestion Holding SA’s holdings in Lowe’s Companies were worth $15,480,000 at the end of the most recent quarter.
Several other hedge funds have also made changes to their positions in LOW. Boston Partners lifted its stake in shares of Lowe’s Companies by 382.4% during the 2nd quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock valued at $457,230,000 after buying an additional 3,792,479 shares in the last quarter. Winslow Capital Management LLC purchased a new stake in shares of Lowe’s Companies during the 2nd quarter valued at approximately $303,908,000. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Lowe’s Companies during the 2nd quarter valued at approximately $266,540,000. Artisan Partners Limited Partnership purchased a new stake in Lowe’s Companies in the 2nd quarter worth approximately $206,665,000. Finally, Cornerstone Wealth Management LLC lifted its stake in 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 in the last quarter. Institutional investors own 74.59% of the company’s stock.
Shares of NYSE:LOW opened at $96.82 on Friday. The firm has a market capitalization of $81.31 billion, a PE ratio of 19.92, a P/E/G ratio of 1.35 and a beta of 1.52. Lowe’s Companies, Inc. has a one year low of $77.14 and a one year high of $117.70. 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 issued its quarterly earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.05. The firm 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%. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.57 EPS. Research analysts expect that Lowe’s Companies, Inc. will post 5.18 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Stockholders of record on Wednesday, January 23rd will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.98%. Lowe’s Companies’s payout ratio is 43.74%.
In other news, CFO Marshall A. Croom sold 15,735 shares of the stock in a transaction 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 owns 63,099 shares of the company’s stock, valued at approximately $7,231,776.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Lisa W. Wardell bought 273 shares of Lowe’s Companies stock in a transaction that occurred on Friday, August 24th. The shares were acquired at an average cost of $107.72 per share, for a total transaction of $29,407.56. Following the acquisition, 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 analysts have issued reports 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 research note on Tuesday, October 23rd. Citigroup upgraded 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 research note on Tuesday, October 23rd. Royal Bank of Canada increased their target price on shares of Lowe’s Companies to $118.00 and gave the stock an “outperform” rating in a research note 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 research note 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 research note on Monday, October 15th. Nine analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $112.41.
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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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