Lowe’s Companies, Inc. (LOW) Shares Bought by FIL Ltd

FIL Ltd boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,816,865 shares of the home improvement retailer’s stock after buying an additional 122,466 shares during the period. FIL Ltd owned about 0.21% of Lowe’s Companies worth $149,364,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Washington Trust Bank raised its stake in shares of Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock worth $102,000 after buying an additional 266 shares during the period. State of Alaska Department of Revenue purchased a new stake in shares of Lowe’s Companies during the first quarter worth approximately $109,000. Hanson McClain Inc. raised its stake in shares of Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 45 shares during the period. First Bank & Trust raised its stake in shares of Lowe’s Companies by 11.5% in the first quarter. First Bank & Trust now owns 1,421 shares of the home improvement retailer’s stock worth $117,000 after buying an additional 147 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Lowe’s Companies during the first quarter worth approximately $119,000. Institutional investors own 74.65% of the company’s stock.

Shares of Lowe’s Companies, Inc. (NYSE LOW) opened at 73.64 on Friday. The company has a 50 day moving average price of $76.47 and a 200 day moving average price of $79.47. Lowe’s Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25. The company has a market capitalization of $62.17 billion, a PE ratio of 23.09 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The company had revenue of $16.86 billion for the quarter, compared to analysts’ expectations of $16.99 billion. During the same quarter in the previous year, the business earned $0.87 EPS. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities research analysts expect that Lowe’s Companies, Inc. will post $4.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.23%. Lowe’s Companies’s payout ratio is currently 51.57%.

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A number of analysts recently issued reports on the company. BTIG Research reaffirmed a “buy” rating and issued a $95.00 target price on shares of Lowe’s Companies in a research report on Friday. Longbow Research reaffirmed a “buy” rating and issued a $95.00 target price on shares of Lowe’s Companies in a research report on Monday, August 14th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a research report on Friday, August 11th. Wolfe Research reaffirmed an “outperform” rating and issued a $94.00 target price (down previously from $95.00) on shares of Lowe’s Companies in a research report on Sunday, May 28th. Finally, BidaskClub raised Lowe’s Companies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $85.69.

In related news, insider Richard D. Maltsbarger sold 11,672 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the completion of the transaction, the insider now directly owns 37,716 shares in the company, valued at approximately $3,024,823.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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