Empire Life Investments Inc. reduced its holdings in Lowe's Companies, Inc. (NYSE:LOW) by 1.7% during the third quarter, Holdings Channel reports. The fund owned 310,945 shares of the home improvement retailer’s stock after selling 5,459 shares during the quarter. Lowe's Companies accounts for 2.0% of Empire Life Investments Inc.’s investment portfolio, making the stock its 14th largest holding. Empire Life Investments Inc.’s holdings in Lowe's Companies were worth $24,857,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in LOW. FMR LLC increased its stake in Lowe's Companies by 62.6% in the 2nd quarter. FMR LLC now owns 9,694,439 shares of the home improvement retailer’s stock worth $751,610,000 after acquiring an additional 3,732,153 shares during the last quarter. Janus Henderson Group PLC increased its stake in Lowe's Companies by 1,457.8% in the 2nd quarter. Janus Henderson Group PLC now owns 3,787,825 shares of the home improvement retailer’s stock worth $293,669,000 after acquiring an additional 3,544,665 shares during the last quarter. Amundi Pioneer Asset Management Inc. increased its stake in Lowe's Companies by 2,147.5% in the 3rd quarter. Amundi Pioneer Asset Management Inc. now owns 2,509,600 shares of the home improvement retailer’s stock worth $200,617,000 after acquiring an additional 2,397,937 shares during the last quarter. Alyeska Investment Group L.P. increased its stake in Lowe's Companies by 196.8% in the 3rd quarter. Alyeska Investment Group L.P. now owns 3,284,209 shares of the home improvement retailer’s stock worth $262,540,000 after acquiring an additional 2,177,496 shares during the last quarter. Finally, Parametric Portfolio Associates LLC increased its stake in Lowe's Companies by 94.1% in the 2nd quarter. Parametric Portfolio Associates LLC now owns 3,482,003 shares of the home improvement retailer’s stock worth $269,960,000 after acquiring an additional 1,688,392 shares during the last quarter. Institutional investors and hedge funds own 73.12% of the company’s stock.
In related 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 transaction of $268,830.40. Following the transaction, the insider now directly owns 4,650 shares in the company, valued at approximately $372,930. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 0.11% of the stock is owned by company 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 (EPS) for the quarter, topping 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 analyst estimates of $16.59 billion. During the same period last year, the company earned $0.88 EPS. Lowe's Companies’s revenue for the quarter was up 6.6% compared to the same quarter last year. analysts predict that Lowe's Companies, Inc. will post 4.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be given a dividend of $0.41 per share. The ex-dividend date 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 equities analysts have weighed in on LOW shares. Deutsche Bank restated a “buy” rating and issued a $90.00 target price (up from $85.00) on shares of Lowe's Companies in a research note on Friday, October 6th. BMO Capital Markets reiterated a “hold” rating and set a $82.00 price objective on shares of Lowe's Companies in a research report on Thursday, November 2nd. Robert W. Baird set a $87.00 price objective on Lowe's Companies and gave the company a “buy” rating in a research report on Tuesday, October 31st. Royal Bank of Canada set a $81.00 price objective on Lowe's Companies and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, Telsey Advisory Group increased their price objective on Lowe's Companies from $79.00 to $83.00 and gave the company an “outperform” rating in a research report on Wednesday, November 22nd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $88.62.
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Lowe's Companies Company 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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