Donaldson Capital Management LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 63.4% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 8,767 shares of the home improvement retailer’s stock after selling 15,174 shares during the period. Donaldson Capital Management LLC’s holdings in Lowe’s Companies were worth $721,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wealthfront Inc. boosted its position in Lowe’s Companies by 3.0% in the fourth quarter. Wealthfront Inc. now owns 11,384 shares of the home improvement retailer’s stock worth $810,000 after buying an additional 327 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in Lowe’s Companies during the fourth quarter worth $602,000. Dodge & Cox bought a new position in Lowe’s Companies during the fourth quarter worth $278,000. Access Financial Services Inc. bought a new position in Lowe’s Companies during the fourth quarter worth $1,204,000. Finally, Norges Bank bought a new position in Lowe’s Companies during the fourth quarter worth $556,574,000. 74.65% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) traded down 0.65% during midday trading on Friday, hitting $73.64. The company’s stock had a trading volume of 5,153,649 shares. The firm has a 50-day moving average of $76.47 and a 200 day moving average of $79.47. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25. The firm has a market cap of $62.17 billion, a price-to-earnings ratio of 23.09 and a beta of 1.08.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. The business had revenue of $16.86 billion for the quarter, compared to analysts’ expectations of $16.99 billion. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same period last year, the firm earned $0.87 earnings per share. On average, equities research analysts predict that Lowe’s Companies, Inc. will post $4.62 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.23%. Lowe’s Companies’s dividend payout ratio (DPR) is 51.57%.
A number of research analysts have recently weighed in on LOW shares. Vetr cut Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 price objective on the stock. in a research report on Monday, May 8th. Jefferies Group LLC lifted their target price on Lowe’s Companies from $80.00 to $94.00 and gave the company a “hold” rating in a research note on Friday, May 12th. Credit Suisse Group set a $94.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research note on Tuesday, May 2nd. Oppenheimer Holdings, Inc. set a $100.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, May 24th. Finally, Stifel Nicolaus reissued a “buy” rating and set a $87.00 target price on shares of Lowe’s Companies in a research note on Friday, July 21st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $85.69.
In other Lowe’s Companies news, insider Richard D. Maltsbarger sold 11,672 shares of Lowe’s Companies stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total transaction of $936,094.40. Following the completion of the sale, the insider now directly owns 37,716 shares of the company’s stock, valued at approximately $3,024,823.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is 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.
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