Accident Compensation Corp cut its position in Lowe's Companies, Inc. (NYSE:LOW) by 36.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 32,800 shares of the home improvement retailer’s stock after selling 18,700 shares during the period. Accident Compensation Corp’s holdings in Lowe's Companies were worth $2,622,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Vantage Financial Partners Ltd. Inc. acquired a new position in Lowe's Companies in the 2nd quarter valued at $233,000. Atlantic Trust LLC acquired a new position in Lowe's Companies in the 2nd quarter valued at $105,000. IHT Wealth Management LLC raised its holdings in Lowe's Companies by 8.7% in the 2nd quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock valued at $154,000 after acquiring an additional 110 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in Lowe's Companies by 8.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after acquiring an additional 110 shares in the last quarter. Finally, Horan Capital Advisors LLC. acquired a new position in Lowe's Companies in the 3rd quarter valued at $134,000. Institutional investors and hedge funds own 73.12% of the company’s stock.
In other Lowe's Companies 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 completion of the transaction, the insider now owns 4,650 shares of the company’s stock, valued at approximately $372,930. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.
Lowe's Companies (NYSE:LOW) last issued its earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 business had revenue of $16.77 billion during the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. equities analysts forecast that Lowe's Companies, Inc. will post 4.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be issued 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 yield of 1.75%. Lowe's Companies’s payout ratio is presently 39.42%.
Several brokerages have weighed in on LOW. Stifel Nicolaus reaffirmed a “buy” rating and issued a $103.00 price objective on shares of Lowe's Companies in a report on Friday, December 22nd. Barclays raised Lowe's Companies from an “equal weight” rating to an “overweight” rating in a report on Friday. Piper Jaffray Companies reaffirmed a “hold” rating and issued a $82.00 price objective on shares of Lowe's Companies in a report on Friday, November 24th. Robert W. Baird reaffirmed a “buy” rating and issued a $110.00 price objective on shares of Lowe's Companies in a report on Wednesday, January 3rd. Finally, Zacks Investment Research raised Lowe's Companies from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have given a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $88.62.
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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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