Verus Financial Partners Inc. decreased its position in shares of Lowe's Companies, Inc. (NYSE:LOW) by 5.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,146 shares of the home improvement retailer’s stock after selling 837 shares during the period. Lowe's Companies comprises about 0.5% of Verus Financial Partners Inc.’s portfolio, making the stock its 13th largest position. Verus Financial Partners Inc.’s holdings in Lowe's Companies were worth $1,163,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of LOW. Cornerstone Advisors Inc. boosted its stake in shares of Lowe's Companies by 160.1% in the third quarter. Cornerstone Advisors Inc. now owns 5,697 shares of the home improvement retailer’s stock valued at $411,000 after buying an additional 3,507 shares in the last quarter. Beech Hill Advisors Inc. boosted its stake in shares of Lowe's Companies by 45.2% in the third quarter. Beech Hill Advisors Inc. now owns 52,850 shares of the home improvement retailer’s stock valued at $3,816,000 after buying an additional 16,450 shares in the last quarter. First National Bank of Hutchinson purchased a new stake in Lowe's Companies during the third quarter worth $497,000. Winslow Evans & Crocker Inc. raised its stake in Lowe's Companies by 1.5% in the third quarter. Winslow Evans & Crocker Inc. now owns 3,204 shares of the home improvement retailer’s stock worth $231,000 after buying an additional 48 shares during the period. Finally, QUANTRES ASSET MANAGEMENT Ltd purchased a new stake in Lowe's Companies during the third quarter worth $209,000. 74.46% of the stock is owned by hedge funds and other institutional investors.
Shares of Lowe's Companies, Inc. (NYSE:LOW) traded down 1.89% during trading on Wednesday, hitting $83.75. 4,971,884 shares of the stock traded hands. The firm’s 50-day moving average price is $83.65 and its 200-day moving average price is $76.43. The company has a market cap of $71.80 billion, a price-to-earnings ratio of 24.14 and a beta of 1.28. Lowe's Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25.
Lowe's Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, March 1st. The home improvement retailer reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.07. The business had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.39 billion. Lowe's Companies had a return on equity of 46.46% and a net margin of 3.91%. The firm’s quarterly revenue was up 19.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.59 earnings per share. On average, equities research analysts anticipate that Lowe's Companies, Inc. will post $4.64 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 10th. Investors of record on Wednesday, April 26th were issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.67%. The ex-dividend date of this dividend was Monday, April 24th. Lowe's Companies’s dividend payout ratio is 51.28%.
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A number of equities analysts have recently issued reports on the stock. Credit Suisse Group AG set a $83.00 price objective on shares of Lowe's Companies and gave the company a “buy” rating in a research note on Saturday, February 18th. Morgan Stanley set a $88.00 price objective on shares of Lowe's Companies and gave the company a “buy” rating in a report on Thursday, February 23rd. BTIG Research reiterated a “buy” rating and issued a $80.00 target price on shares of Lowe's Companies in a research report on Wednesday, February 22nd. Royal Bank of Canada restated a “buy” rating and set a $90.00 price target on shares of Lowe's Companies in a research report on Monday, April 3rd. Finally, Zacks Investment Research upgraded shares of Lowe's Companies from a “hold” rating to a “buy” rating and set a $92.00 price target on the stock in a research report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $84.57.
In other Lowe's Companies news, SVP Matthew V. Hollifield sold 9,299 shares of the stock in a transaction dated Friday, March 3rd. The stock was sold at an average price of $80.99, for a total value of $753,126.01. Following the transaction, the senior vice president now owns 28,691 shares of the company’s stock, valued at $2,323,684.09. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO Ricky D. Damron sold 17,152 shares of the stock in a transaction dated Monday, April 3rd. The shares were sold at an average price of $81.96, for a total value of $1,405,777.92. Following the completion of the transaction, the chief operating officer now directly owns 78,225 shares in the company, valued at approximately $6,411,321. The disclosure for this sale can be found here. In the last quarter, insiders sold 520,357 shares of company stock worth $42,207,226. 0.39% of the stock is owned by company insiders.
Lowe's Companies Company Profile
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.
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