Toronto Dominion Bank lifted its stake in Lowe's Companies, Inc. (NYSE:LOW) by 32.3% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 330,946 shares of the home improvement retailer’s stock after acquiring an additional 80,780 shares during the period. Toronto Dominion Bank’s holdings in Lowe's Companies were worth $26,454,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Lowe's Companies by 1.4% in the 2nd quarter. Vanguard Group Inc. now owns 64,769,014 shares of the home improvement retailer’s stock worth $5,021,542,000 after acquiring an additional 897,911 shares in the last quarter. BlackRock Inc. increased its position in Lowe's Companies by 1,757.3% during the 1st quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock valued at $5,045,875,000 after buying an additional 58,073,138 shares in the last quarter. FMR LLC increased its position in Lowe's Companies by 62.6% during the 2nd quarter. FMR LLC now owns 9,694,439 shares of the home improvement retailer’s stock valued at $751,610,000 after buying an additional 3,732,153 shares in the last quarter. Ameriprise Financial Inc. increased its position in Lowe's Companies by 0.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 9,281,474 shares of the home improvement retailer’s stock valued at $719,560,000 after buying an additional 64,780 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Lowe's Companies by 8.2% during the 1st quarter. Geode Capital Management LLC now owns 8,848,938 shares of the home improvement retailer’s stock valued at $726,481,000 after buying an additional 671,581 shares in the last quarter. 73.14% of the stock is owned by hedge funds and other institutional investors.
In other news, insider Nelson B. Peace sold 3,352 shares of the company’s stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $80.20, for a total value of $268,830.40. Following the sale, the insider now owns 4,650 shares in the company, valued at $372,930. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.
Lowe's Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. The business had revenue of $16.77 billion for the quarter, compared to the consensus estimate of $16.59 billion. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.88 EPS. equities research analysts forecast that Lowe's Companies, Inc. will post 4.51 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a yield of 1.81%. Lowe's Companies’s payout ratio is presently 39.33%.
LOW has been the topic of several recent analyst reports. Gordon Haskett initiated coverage on Lowe's Companies in a research report on Tuesday, October 3rd. They set an “accumulate” rating and a $88.00 target price on the stock. Royal Bank of Canada reaffirmed a “buy” rating and set a $81.00 target price on shares of Lowe's Companies in a research report on Monday, September 25th. Deutsche Bank reduced their target price on Lowe's Companies from $92.00 to $85.00 and set a “buy” rating on the stock in a research report on Thursday, August 24th. Credit Suisse Group set a $83.00 target price on Lowe's Companies and gave the company a “buy” rating in a research report on Thursday, August 24th. Finally, Robert W. Baird set a $87.00 target price on Lowe's Companies and gave the company a “buy” rating in a research report on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and seventeen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $87.66.
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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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