Artisan Partners Limited Partnership raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 14.9% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,735,627 shares of the home improvement retailer’s stock after acquiring an additional 483,822 shares during the period. Artisan Partners Limited Partnership owned approximately 0.47% of Lowe’s Companies worth $408,939,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. F3Logic LLC purchased a new stake in Lowe’s Companies in the 4th quarter worth approximately $2,135,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Lowe’s Companies in the 4th quarter worth approximately $1,467,000. BlackRock Inc. increased its holdings in Lowe’s Companies by 0.7% in the 4th quarter. BlackRock Inc. now owns 53,503,078 shares of the home improvement retailer’s stock worth $4,941,544,000 after acquiring an additional 371,008 shares in the last quarter. Cadence Bank NA increased its holdings in Lowe’s Companies by 0.5% in the 1st quarter. Cadence Bank NA now owns 23,458 shares of the home improvement retailer’s stock worth $2,568,000 after acquiring an additional 112 shares in the last quarter. Finally, ZWJ Investment Counsel Inc. increased its holdings in Lowe’s Companies by 1.6% in the 4th quarter. ZWJ Investment Counsel Inc. now owns 7,386 shares of the home improvement retailer’s stock worth $682,000 after acquiring an additional 118 shares in the last quarter. Institutional investors and hedge funds own 76.85% of the company’s stock.
In other Lowe’s Companies news, insider Marvin R. Ellison bought 10,000 shares of Lowe’s Companies stock in a transaction on Friday, May 24th. The shares were acquired at an average price of $95.05 per share, for a total transaction of $950,500.00. Following the completion of the purchase, the insider now directly owns 80,090 shares in the company, valued at approximately $7,612,554.50. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.07% of the stock is owned by company insiders.
NYSE LOW opened at $96.33 on Thursday. The company has a quick ratio of 0.24, a current ratio of 1.09 and a debt-to-equity ratio of 6.37. The company has a market cap of $75.85 billion, a PE ratio of 18.74, a PEG ratio of 1.23 and a beta of 1.37. Lowe’s Companies, Inc. has a one year low of $84.75 and a one year high of $118.23.
Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.11). The firm had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $17.65 billion. Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.19 earnings per share. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 5.59 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.48. This represents a $2.20 dividend on an annualized basis and a yield of 2.28%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 37.35%.
Several research firms recently issued reports on LOW. Morgan Stanley increased their target price on shares of Lowe’s Companies from $115.00 to $123.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Zacks Investment Research lowered shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a report on Monday, May 6th. Citigroup increased their target price on shares of Lowe’s Companies from $125.00 to $127.00 and gave the stock a “buy” rating in a report on Monday, April 1st. Wedbush increased their target price on shares of Lowe’s Companies from $95.00 to $110.00 and gave the stock a “neutral” rating in a report on Thursday, February 28th. Finally, ValuEngine raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Nine analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $113.48.
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Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
Read More: Intrinsic Value
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