Professional Advisory Services Inc. reduced its position in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 4.0% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,400 shares of the home improvement retailer’s stock after selling 100 shares during the quarter. Professional Advisory Services Inc.’s holdings in Lowe’s Companies were worth $542,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LOW. Ritter Daniher Financial Advisory LLC DE lifted its position in Lowe’s Companies by 357.1% in the first quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 100 shares during the period. Tanglewood Legacy Advisors LLC bought a new position in shares of Lowe’s Companies during the fourth quarter valued at $30,000. Grey Fox Wealth Advisors LLC bought a new position in shares of Lowe’s Companies during the fourth quarter valued at $31,000. Ruedi Wealth Management Inc. bought a new position in shares of Lowe’s Companies during the fourth quarter valued at $32,000. Finally, Sanctuary Wealth Management L.L.C. bought a new position in shares of Lowe’s Companies during the fourth quarter valued at $35,000. 71.88% of the stock is owned by institutional investors.
Analysts Set New Price Targets
A number of research analysts have issued reports on LOW shares. Bank of America lifted their price objective on Lowe’s Companies from $278.00 to $289.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. Evercore ISI lowered their price objective on Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating for the company in a research report on Friday, September 8th. Citigroup lifted their price objective on Lowe’s Companies from $221.00 to $250.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 2nd. Oppenheimer restated an “outperform” rating and set a $275.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 9th. Finally, Stifel Nicolaus started coverage on Lowe’s Companies in a report on Wednesday, September 6th. They set a “buy” rating and a $270.00 price objective on the stock. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $237.48.
Insider Buying and Selling at Lowe’s Companies
In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of the firm’s 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 completion of the transaction, the executive vice president now owns 46,594 shares in the company, valued at approximately $10,368,562.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.28, for a total value of $1,244,286.40. Following the sale, the executive vice president now directly owns 24,216 shares in the company, valued at approximately $5,600,676.48. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of Lowe’s Companies stock in a transaction dated 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 completion of the sale, the executive vice president now owns 46,594 shares in the company, valued at $10,368,562.82. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
Lowe’s Companies Trading Down 4.7 %
NYSE LOW traded down $10.85 on Friday, reaching $220.02. 9,188,534 shares of the stock were exchanged, compared to its average volume of 2,830,432. Lowe’s Companies, Inc. has a one year low of $176.50 and a one year high of $237.21. The firm has a market capitalization of $126.98 billion, a PE ratio of 21.66, a PEG ratio of 1.49 and a beta of 1.09. The company’s 50-day simple moving average is $227.97 and its two-hundred day simple moving average is $213.39.
Lowe’s Companies (NYSE:LOW – Get Free Report) last posted its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, topping the consensus estimate of $4.49 by $0.07. The company had revenue of $24.96 billion during the quarter, compared to analyst estimates of $24.97 billion. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. Lowe’s Companies’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.67 earnings per share. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 13.46 earnings per share for the current fiscal year.
Lowe’s Companies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be issued a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $4.40 annualized dividend and a dividend yield of 2.00%. Lowe’s Companies’s payout ratio is currently 43.31%.
Lowe’s Companies Company 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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