Mirae Asset Global Investments Co. Ltd. lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 84.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 37,157 shares of the home improvement retailer’s stock after purchasing an additional 17,062 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Lowe’s Companies were worth $4,267,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of LOW. Winslow Capital Management LLC acquired a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $303,908,000. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $266,540,000. Artisan Partners Limited Partnership acquired a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $206,665,000. FMR LLC increased its holdings in shares of Lowe’s Companies by 8.0% in the third quarter. FMR LLC now owns 21,879,740 shares of the home improvement retailer’s stock valued at $2,512,233,000 after purchasing an additional 1,616,536 shares in the last quarter. Finally, Mainstay Capital Management LLC ADV increased its holdings in shares of Lowe’s Companies by 6,936.9% in the second quarter. Mainstay Capital Management LLC ADV now owns 756,817 shares of the home improvement retailer’s stock valued at $8,155,000 after purchasing an additional 746,062 shares in the last quarter. 73.92% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently weighed in on the stock. Goldman Sachs Group set a $125.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Friday, September 28th. Bank of America set a $132.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Tuesday, October 2nd. SunTrust Banks raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 target price for the company in a report on Friday, September 28th. Telsey Advisory Group lifted their target price on shares of Lowe’s Companies from $123.00 to $126.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Finally, Robert W. Baird reaffirmed an “outperform” rating and set a $130.00 target price (up previously from $120.00) on shares of Lowe’s Companies in a report on Monday, September 17th. Ten equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. Lowe’s Companies currently has a consensus rating of “Buy” and a consensus target price of $109.54.
In other news, CFO Marshall A. Croom sold 15,735 shares of Lowe’s Companies stock in a transaction on 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 of the company’s stock, valued at $7,231,776.39. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Brian C. Rogers purchased 10,000 shares of Lowe’s Companies stock in a transaction dated Friday, November 23rd. The shares were 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 owns 10,000 shares of the company’s stock, valued at $880,200. The disclosure for this purchase can be found here. Company insiders own 0.30% of the company’s stock.
Shares of NYSE LOW opened at $89.40 on Friday. The firm has a market cap of $73.51 billion, a PE ratio of 20.36, a PEG ratio of 1.25 and a beta of 1.55. Lowe’s Companies, Inc. has a twelve month low of $81.16 and a twelve month high of $117.70. The company has a current ratio of 1.00, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68.
Lowe’s Companies (NYSE:LOW) last announced its quarterly 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 company had revenue of $17.42 billion for the quarter, compared to analysts’ expectations of $17.36 billion. Lowe’s Companies had a net margin of 5.19% and a return on equity of 72.47%. The business’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period last year, the firm posted $1.05 earnings per share. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 5.11 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Stockholders of record on Wednesday, January 23rd will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, January 22nd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.15%. Lowe’s Companies’s dividend payout ratio is 43.74%.
Lowe’s Companies Company Profile
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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