CWA Asset Management Group LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,470 shares of the home improvement retailer’s stock after selling 233 shares during the quarter. CWA Asset Management Group LLC’s holdings in Lowe’s Companies were worth $424,000 at the end of the most recent quarter.
Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Lowe’s Companies by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock valued at $5,250,843,000 after acquiring an additional 2,650,045 shares during the last quarter. Blue Edge Capital LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter valued at about $727,000. Sumitomo Mitsui Asset Management Company LTD increased its stake in shares of Lowe’s Companies by 11.8% in the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 105,471 shares of the home improvement retailer’s stock valued at $8,177,000 after acquiring an additional 11,119 shares during the last quarter. Summit Global Investments bought a new stake in shares of Lowe’s Companies in the 2nd quarter valued at about $1,421,000. Finally, Dimensional Fund Advisors LP increased its stake in shares of Lowe’s Companies by 2.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,425,597 shares of the home improvement retailer’s stock valued at $199,407,000 after acquiring an additional 60,109 shares during the last quarter. 74.36% of the stock is owned by institutional investors.
In related news, SVP Matthew V. Hollifield sold 7,853 shares of Lowe’s Companies stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the transaction, the senior vice president now owns 30,750 shares of the company’s stock, valued at $2,407,725. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Ramsay sold 2,098 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the transaction, the insider now directly owns 8,400 shares in the company, valued at approximately $655,368. The disclosure for this sale can be found here. 0.11% of the stock is owned by insiders.
A number of analysts have recently commented on LOW shares. Bank of America Corporation started coverage on Lowe’s Companies in a research note on Tuesday, September 5th. They issued a “buy” rating and a $95.00 price target for the company. Zacks Investment Research cut Lowe’s Companies from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $87.00 price target on shares of Lowe’s Companies in a research note on Friday, July 21st. Oppenheimer Holdings, Inc. set a $100.00 price target on Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Finally, Deutsche Bank AG reaffirmed a “buy” rating and issued a $90.00 price target (up from $85.00) on shares of Lowe’s Companies in a research note on Friday, October 6th. 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 company’s stock. Lowe’s Companies currently has an average rating of “Hold” and a consensus price target of $85.40.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 EPS for the quarter, missing the Thomson Reuters’ 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%. The company’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.37 EPS.
The company also recently disclosed 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 2.14%. Lowe’s Companies’s dividend 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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