Highbridge Capital Management LLC grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 573.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,790 shares of the home improvement retailer’s stock after purchasing an additional 15,490 shares during the quarter. Highbridge Capital Management LLC’s holdings in Lowe’s Companies were worth $1,469,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Columbia Asset Management bought a new position in shares of Lowe’s Companies during the third quarter valued at approximately $109,000. Capital Advisors Ltd. LLC bought a new position in shares of Lowe’s Companies during the third quarter valued at approximately $116,000. Stelac Advisory Services LLC bought a new position in shares of Lowe’s Companies during the third quarter valued at approximately $123,000. Almanack Investment Partners LLC. bought a new position in shares of Lowe’s Companies during the second quarter valued at approximately $103,000. Finally, Rational Advisors LLC grew its holdings in shares of Lowe’s Companies by 1,005.9% during the third quarter. Rational Advisors LLC now owns 1,117 shares of the home improvement retailer’s stock valued at $128,000 after purchasing an additional 1,016 shares during the last quarter. 73.92% of the stock is owned by institutional investors.
Several brokerages have recently issued reports on LOW. Loop Capital set a $125.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, November 21st. Zacks Investment Research downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 14th. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $105.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 23rd. ValuEngine downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Friday, November 16th. Finally, Wedbush set a $95.00 price objective on Lowe’s Companies and gave the stock a “hold” rating in a research report on Wednesday, November 21st. Ten research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the stock. Lowe’s Companies has a consensus rating of “Buy” and a consensus price target of $109.54.
LOW opened at $89.40 on Friday. The company has a market capitalization of $73.51 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.25 and a beta of 1.55. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.00 and a quick ratio of 0.18. Lowe’s Companies, Inc. has a 1-year low of $81.16 and a 1-year high of $117.70.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. The firm had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $17.36 billion. Lowe’s Companies had a return on equity of 72.47% and a net margin of 5.19%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.05 earnings per share. On average, analysts predict that Lowe’s Companies, Inc. will post 5.11 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. The ex-dividend date is Tuesday, January 22nd. This represents a $1.92 dividend on an annualized basis and a yield of 2.15%. Lowe’s Companies’s dividend payout ratio (DPR) is 43.74%.
In other news, Director Brian C. Rogers bought 10,000 shares of the business’s stock in a transaction on Friday, November 23rd. The stock was purchased at an average cost of $88.02 per share, for a total transaction of $880,200.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $880,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Marshall A. Croom sold 15,735 shares of the company’s stock in a transaction that occurred 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 owns 63,099 shares of the company’s stock, valued at $7,231,776.39. The disclosure for this sale can be found here. Corporate insiders own 0.30% of the company’s stock.
About Lowe’s Companies
Lowe’s Cos., Inc engages in the retail sale of home improvement products. It offers products for maintenance, repair, remodeling, home decorating, and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows, and doors.
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