IFM Investors Pty Ltd boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 15.3% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 106,624 shares of the home improvement retailer’s stock after acquiring an additional 14,118 shares during the period. IFM Investors Pty Ltd’s holdings in Lowe’s Companies were worth $21,558,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. LSV Asset Management acquired a new position in Lowe’s Companies during the 4th quarter worth approximately $78,000. Desjardins Global Asset Management Inc. acquired a new position in Lowe’s Companies during the 4th quarter worth approximately $1,532,000. Accredited Investors Inc. acquired a new position in Lowe’s Companies during the 4th quarter worth approximately $208,000. Legacy Financial Strategies LLC lifted its position in shares of Lowe’s Companies by 1.5% during the 4th quarter. Legacy Financial Strategies LLC now owns 8,920 shares of the home improvement retailer’s stock worth $2,306,000 after buying an additional 131 shares during the last quarter. Finally, CWM LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $3,681,000. Institutional investors and hedge funds own 75.46% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on the stock. OTR Global downgraded shares of Lowe’s Companies to a “positive” rating in a research report on Tuesday, May 10th. Citigroup reduced their price objective on shares of Lowe’s Companies from $292.00 to $222.00 in a research report on Friday, May 13th. Loop Capital reduced their price objective on Lowe’s Companies from $240.00 to $190.00 in a research note on Tuesday, April 12th. MKM Partners initiated coverage on Lowe’s Companies in a research note on Thursday, June 23rd. They issued a “neutral” rating and a $190.00 price objective for the company. Finally, JPMorgan Chase & Co. boosted their price objective on Lowe’s Companies from $228.00 to $230.00 and gave the company a “neutral” rating in a research note on Thursday, May 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $239.63.
Lowe’s Companies Price Performance
Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings data on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.27. Lowe’s Companies had a negative return on equity of 251.50% and a net margin of 8.85%. The firm had revenue of $23.66 billion for the quarter, compared to analyst estimates of $23.72 billion. During the same quarter in the prior year, the company posted $3.21 earnings per share. Lowe’s Companies’s quarterly revenue was down 3.1% on a year-over-year basis. As a group, equities research analysts anticipate that Lowe’s Companies, Inc. will post 13.44 EPS for the current year.
Lowe’s Companies Increases Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 3rd. Investors of record on Wednesday, July 20th will be issued a dividend of $1.05 per share. This represents a $4.20 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, July 19th. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.80. Lowe’s Companies’s dividend payout ratio is currently 34.23%.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, lighting, and electrical.
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