Chevy Chase Trust Holdings Inc. reduced its stake in shares of Lowe's Companies, Inc. (NYSE:LOW) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 742,486 shares of the home improvement retailer’s stock after selling 3,210 shares during the period. Chevy Chase Trust Holdings Inc.’s holdings in Lowe's Companies were worth $59,354,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Vantage Financial Partners Ltd. Inc. bought a new position in shares of Lowe's Companies in the 2nd quarter worth about $233,000. Atlantic Trust LLC bought a new position in shares of Lowe's Companies in the 2nd quarter worth about $105,000. IHT Wealth Management LLC raised its position in shares of 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 worth $154,000 after acquiring an additional 110 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of 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 worth $111,000 after acquiring an additional 110 shares in the last quarter. Finally, Horan Capital Advisors LLC. bought a new position in shares of Lowe's Companies in the 3rd quarter worth about $134,000. 73.12% of the stock is owned by institutional investors and hedge funds.
In related news, insider Nelson B. Peace sold 3,352 shares of the company’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 transaction, the insider now owns 4,650 shares in the company, valued at $372,930. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.11% of the stock is currently owned by corporate insiders.
Lowe's Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, beating the 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 business had revenue of $16.77 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. Lowe's Companies’s revenue for the quarter was up 6.6% on a year-over-year basis. equities analysts expect that Lowe's Companies, Inc. will post 4.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a yield of 1.74%. Lowe's Companies’s payout ratio is 39.42%.
A number of brokerages recently commented on LOW. Barclays raised Lowe's Companies from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 5th. Zelman & Associates lowered Lowe's Companies from a “buy” rating to a “hold” rating in a research report on Friday, January 5th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $103.00 target price on shares of Lowe's Companies in a research report on Friday, December 22nd. Robert W. Baird reaffirmed a “buy” rating and issued a $110.00 target price on shares of Lowe's Companies in a research report on Wednesday, January 3rd. Finally, Guggenheim began coverage on Lowe's Companies in a research report on Tuesday, December 12th. They issued a “buy” rating and a $95.00 target price for the company. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $88.62.
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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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