SlateStone Wealth LLC trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,925 shares of the home improvement retailer’s stock after selling 395 shares during the period. SlateStone Wealth LLC’s holdings in Lowe’s Companies were worth $295,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in LOW. Advisors Preferred LLC bought a new position in shares of Lowe’s Companies in the first quarter worth $26,000. Icon Wealth Partners LLC purchased a new stake in shares of Lowe’s Companies in the first quarter worth $26,000. Next Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the second quarter worth $27,000. Weaver Consulting Group purchased a new stake in shares of Lowe’s Companies in the first quarter worth $28,000. Finally, Thor Advisors LLC purchased a new stake in shares of Lowe’s Companies in the first quarter worth $35,000. 75.85% of the stock is owned by institutional investors and hedge funds.
A number of equities research analysts recently issued reports on the company. Credit Suisse Group reiterated a “neutral” rating and issued a $114.00 price objective (up previously from $99.00) on shares of Lowe’s Companies in a research report on Thursday. Morgan Stanley increased their price objective on Lowe’s Companies from $123.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America set a $135.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research report on Monday, May 27th. Zacks Investment Research upgraded Lowe’s Companies from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Finally, ValuEngine downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $115.33.
NYSE LOW traded down $0.12 during trading hours on Thursday, reaching $107.88. 2,751,750 shares of the stock traded hands, compared to its average volume of 4,716,743. The company has a market cap of $74.42 billion, a price-to-earnings ratio of 20.99, a price-to-earnings-growth ratio of 1.25 and a beta of 1.36. The stock has a 50 day simple moving average of $101.52 and a two-hundred day simple moving average of $103.63. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.09 and a quick ratio of 0.24. Lowe’s Companies, Inc. has a 1 year low of $84.75 and a 1 year high of $118.23.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.15. The firm had revenue of $20.99 billion for the quarter, compared to the consensus estimate of $20.96 billion. Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The company’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.07 earnings per share. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 5.58 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $2.20 annualized dividend and a dividend yield of 2.04%. Lowe’s Companies’s dividend payout ratio is currently 42.80%.
In related news, EVP Donald Frieson acquired 2,030 shares of the firm’s stock in a transaction dated Wednesday, June 19th. The shares were purchased at an average price of $98.69 per share, for a total transaction of $200,340.70. Following the completion of the acquisition, the executive vice president now owns 10,980 shares in the company, valued at $1,083,616.20. The purchase was disclosed in a filing with the SEC, which is available at this link. Also, insider Marvin R. Ellison acquired 10,000 shares of the firm’s stock in a transaction dated Friday, May 24th. The stock was bought at an average price of $95.05 per share, for a total transaction of $950,500.00. Following the acquisition, the insider now owns 80,090 shares of the company’s stock, valued at approximately $7,612,554.50. The disclosure for this purchase can be found here. In the last quarter, insiders bought 12,280 shares of company stock worth $1,174,566. Company insiders own 0.07% of the company’s stock.
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.
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