Curbstone Financial Management Corp reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 1.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 3,174 shares of the home improvement retailer’s stock after selling 50 shares during the period. Curbstone Financial Management Corp’s holdings in Lowe’s Companies were worth $635,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ritter Daniher Financial Advisory LLC DE grew its position in shares of Lowe’s Companies by 357.1% during the 1st quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the home improvement retailer’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Tanglewood Legacy Advisors LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $30,000. Grey Fox Wealth Advisors LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $31,000. Ruedi Wealth Management Inc. acquired a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $32,000. Finally, Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $35,000. 71.88% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms have recently commented on LOW. Morgan Stanley raised their target price on Lowe’s Companies from $235.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 23rd. Telsey Advisory Group restated a “market perform” rating and set a $230.00 target price (up from $225.00) on shares of Lowe’s Companies in a research report on Tuesday, August 22nd. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. TD Cowen boosted their price objective on Lowe’s Companies from $225.00 to $230.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 23rd. Finally, Bank of America boosted their price objective on Lowe’s Companies from $278.00 to $289.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $234.89.
Lowe’s Companies Stock Up 0.9 %
NYSE:LOW traded up $2.03 during trading hours on Monday, reaching $232.51. 2,562,000 shares of the stock were exchanged, compared to its average volume of 2,816,283. The business has a 50-day moving average of $226.55 and a two-hundred day moving average of $211.94. Lowe’s Companies, Inc. has a twelve month low of $176.50 and a twelve month high of $237.21. The company has a market capitalization of $134.18 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 1.51 and a beta of 1.09.
Lowe’s Companies (NYSE:LOW – Get Free Report) last released its quarterly earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.07. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The company had revenue of $24.96 billion for the quarter, compared to analysts’ expectations of $24.97 billion. During the same period in the prior year, the firm earned $4.67 earnings per share. The firm’s revenue was down 9.2% compared to the same quarter last year. On average, research analysts forecast that Lowe’s Companies, Inc. will post 13.45 EPS for the current fiscal year.
Lowe’s Companies Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio is currently 43.31%.
Insider Transactions at Lowe’s Companies
In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $222.53, for a total value of $1,001,385.00. Following the transaction, the executive vice president now owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.24% 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. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also 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, and electrical.
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