FNY Managed Accounts LLC boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1,614.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,572 shares of the home improvement retailer’s stock after acquiring an additional 2,422 shares during the period. Lowe’s Companies accounts for about 2.0% of FNY Managed Accounts LLC’s holdings, making the stock its 14th biggest position. FNY Managed Accounts LLC’s holdings in Lowe’s Companies were worth $199,000 at the end of the most recent reporting period.
A number of other large investors have also recently made changes to their positions in LOW. SRS Capital Advisors Inc. boosted its holdings in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after acquiring an additional 5 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Lowe’s Companies in the first quarter worth approximately $103,000. Hanson McClain Inc. boosted its holdings in Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after acquiring an additional 45 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in Lowe’s Companies by 8.3% in the second quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock worth $111,000 after acquiring an additional 110 shares in the last quarter. Finally, Balentine LLC bought a new position in Lowe’s Companies in the first quarter worth approximately $120,000. Institutional investors and hedge funds own 74.36% of the company’s stock.
In other news, SVP Matthew V. Hollifield sold 7,853 shares of the company’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total value of $614,889.90. Following the completion of the sale, the senior vice president now directly owns 30,750 shares in the company, valued at approximately $2,407,725. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the company’s stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the completion of the sale, the insider now owns 8,400 shares of the company’s stock, valued at $655,368. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.
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A number of research firms have recently weighed in on LOW. Sanford C. Bernstein restated an “underperform” rating and issued a $69.00 target price on shares of Lowe’s Companies in a report on Wednesday, July 12th. BidaskClub upgraded Lowe’s Companies from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies restated a “hold” rating and issued a $80.00 target price on shares of Lowe’s Companies in a report on Friday, September 29th. Robert W. Baird set a $87.00 target price on Lowe’s Companies and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Friday, August 11th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $85.40.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.05). The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. Lowe’s Companies’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same period in the previous year, the company earned $1.37 earnings per share.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.64 annualized dividend and a dividend yield of 2.05%. Lowe’s Companies’s payout ratio is 46.20%.
Lowe’s Companies Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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