Donaldson Capital Management LLC reduced its holdings in Lowe's Companies, Inc. (NYSE:LOW) by 49.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,777 shares of the home improvement retailer’s stock after selling 3,715 shares during the quarter. Donaldson Capital Management LLC’s holdings in Lowe's Companies were worth $302,000 at the end of the most recent reporting period.
Several other institutional investors have also made changes to their positions in LOW. Vantage Financial Partners Ltd. Inc. acquired a new position in shares of Lowe's Companies during the second quarter worth about $233,000. Harbour Capital Advisors LLC acquired a new position in shares of Lowe's Companies during the first quarter worth about $103,000. Atlantic Trust LLC acquired a new position in shares of Lowe's Companies during the second quarter worth about $105,000. IHT Wealth Management LLC boosted its position in shares of Lowe's Companies by 8.7% during the second quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock worth $154,000 after buying an additional 110 shares during the period. Finally, State of Alaska Department of Revenue boosted its position in shares of Lowe's Companies by 8.3% during 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 buying an additional 110 shares during the period. Institutional investors own 73.12% of the company’s stock.
LOW has been the subject of several recent research 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 price objective for the company. Bank of America initiated coverage on Lowe's Companies in a research report on Tuesday, September 5th. They set a “buy” rating and a $95.00 price objective for the company. Royal Bank of Canada reaffirmed a “buy” rating and set a $81.00 price objective on shares of Lowe's Companies in a research report on Monday, September 25th. Zacks Investment Research raised Lowe's Companies from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research report on Wednesday, November 1st. Finally, Robert W. Baird set a $87.00 price objective on Lowe's Companies and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Three investment 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 company has an average rating of “Hold” and a consensus price target of $87.66.
Lowe's Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.03. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The company had revenue of $16.77 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same period last year, the firm posted $0.88 earnings per share. The business’s revenue was up 6.6% on a year-over-year basis. sell-side analysts anticipate that Lowe's Companies, Inc. will post 4.51 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be given a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.80%. Lowe's Companies’s payout ratio is 39.33%.
In other news, insider Nelson B. Peace sold 3,352 shares of the firm’s stock in a transaction that occurred on Monday, November 27th. The stock was sold at an average price of $80.20, for a total value of $268,830.40. Following the completion of the sale, the insider now directly owns 4,650 shares of the company’s stock, valued at $372,930. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.11% of the company’s stock.
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About Lowe's Companies
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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