DnB Asset Management AS Has $6,115,000 Position in Lowe’s Companies, Inc. (LOW)

DnB Asset Management AS increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,690 shares of the home improvement retailer’s stock after buying an additional 3,700 shares during the period. DnB Asset Management AS’s holdings in Lowe’s Companies were worth $6,115,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zurich Insurance Group Ltd FI increased its stake in shares of Lowe’s Companies by 76.9% in the second quarter. Zurich Insurance Group Ltd FI now owns 156,059 shares of the home improvement retailer’s stock valued at $12,355,000 after buying an additional 67,826 shares during the last quarter. Huntington National Bank increased its stake in shares of Lowe’s Companies by 35.7% in the second quarter. Huntington National Bank now owns 355,482 shares of the home improvement retailer’s stock valued at $28,144,000 after buying an additional 93,569 shares during the last quarter. Factory Mutual Insurance Co. increased its stake in shares of Lowe’s Companies by 20.6% in the third quarter. Factory Mutual Insurance Co. now owns 964,200 shares of the home improvement retailer’s stock valued at $69,625,000 after buying an additional 165,000 shares during the last quarter. BB&T Corp increased its stake in shares of Lowe’s Companies by 16.3% in the second quarter. BB&T Corp now owns 180,176 shares of the home improvement retailer’s stock valued at $14,265,000 after buying an additional 25,204 shares during the last quarter. Finally, Ardevora Asset Management LLP increased its stake in shares of Lowe’s Companies by 11.8% in the second quarter. Ardevora Asset Management LLP now owns 297,300 shares of the home improvement retailer’s stock valued at $23,537,000 after buying an additional 31,400 shares during the last quarter. 74.00% of the stock is currently owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

Lowe’s Companies, Inc. (NYSE:LOW) traded down 0.37% on Wednesday, reaching $70.95. The company’s stock had a trading volume of 1,287,706 shares. The company has a market cap of $61.72 billion, a P/E ratio of 26.05 and a beta of 1.28. Lowe’s Companies, Inc. has a 12 month low of $62.62 and a 12 month high of $83.65. The stock’s 50 day moving average price is $72.49 and its 200 day moving average price is $74.26.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 EPS for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.08. Lowe’s Companies had a net margin of 3.91% and a return on equity of 46.46%. The firm earned $15.70 billion during the quarter, compared to the consensus estimate of $15.86 billion. During the same quarter in the previous year, the company posted $0.80 earnings per share. The firm’s revenue was up 9.6% on a year-over-year basis. Equities research analysts forecast that Lowe’s Companies, Inc. will post $3.92 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Wednesday, January 25th will be paid a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date is Monday, January 23rd. Lowe’s Companies’s payout ratio is 51.28%.

TRADEMARK VIOLATION NOTICE: “DnB Asset Management AS Has $6,115,000 Position in Lowe’s Companies, Inc. (LOW)” was published by Community Financial News and is the sole property of of Community Financial News. If you are accessing this piece on another publication, it was illegally copied and republished in violation of United States & international copyright and trademark legislation. The correct version of this piece can be read at https://www.com-unik.info/2017/01/11/dnb-asset-management-as-has-6115000-position-in-lowes-companies-inc-low.html.

A number of brokerages have commented on LOW. Royal Bank Of Canada raised their price objective on Lowe’s Companies from $75.00 to $83.00 and gave the stock an “outperform” rating in a research report on Thursday, December 8th. Jefferies Group reiterated a “hold” rating and issued a $69.00 price objective (down previously from $81.00) on shares of Lowe’s Companies in a research report on Tuesday, December 6th. J P Morgan Chase & Co downgraded Lowe’s Companies from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $87.00 to $72.00 in a research report on Wednesday, October 26th. Zacks Investment Research downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 26th. Finally, Robert W. Baird set a $88.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research report on Monday, September 19th. Thirteen investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $82.19.

In other news, insider Marshall A. Croom sold 6,300 shares of the stock in a transaction on Monday, November 28th. The stock was sold at an average price of $71.52, for a total value of $450,576.00. Following the completion of the transaction, the insider now directly owns 40,602 shares in the company, valued at approximately $2,903,855.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Ricky D. Damron sold 17,225 shares of the stock in a transaction on Friday, December 9th. The shares were sold at an average price of $74.83, for a total value of $1,288,946.75. Following the completion of the transaction, the chief operating officer now owns 46,725 shares of the company’s stock, valued at $3,496,431.75. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

About Lowe’s Companies

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.

5 Day Chart for NYSE:LOW

What are top analysts saying about Lowe's Companies Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Lowe's Companies Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit