Janney Montgomery Scott LLC increased its stake in shares of Lowe's Companies, Inc. (NYSE:LOW) by 17.7% during the third quarter, Holdings Channel reports. The institutional investor owned 106,671 shares of the home improvement retailer’s stock after buying an additional 16,050 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Lowe's Companies were worth $8,527,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Davidson Kempner Capital Management LP purchased a new stake in Lowe's Companies in the third quarter valued at $19,985,000. Arbor Wealth Management LLC boosted its holdings in Lowe's Companies by 8.4% in the third quarter. Arbor Wealth Management LLC now owns 25,041 shares of the home improvement retailer’s stock valued at $1,984,000 after purchasing an additional 1,938 shares during the last quarter. Balentine LLC boosted its holdings in Lowe's Companies by 101.6% in the third quarter. Balentine LLC now owns 2,935 shares of the home improvement retailer’s stock valued at $235,000 after purchasing an additional 1,479 shares during the last quarter. Patten Group Inc. boosted its holdings in Lowe's Companies by 1,234.1% in the third quarter. Patten Group Inc. now owns 104,900 shares of the home improvement retailer’s stock valued at $619,000 after purchasing an additional 97,037 shares during the last quarter. Finally, Laurel Wealth Advisors Inc. purchased a new stake in Lowe's Companies in the third quarter valued at $284,000. 73.12% of the stock is currently owned by hedge funds and other institutional investors.
In related news, insider Nelson B. Peace sold 3,352 shares of the company’s stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $80.20, for a total transaction of $268,830.40. Following the completion of the transaction, the insider now owns 4,650 shares in the company, valued at approximately $372,930. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.11% of the stock is owned by corporate insiders.
Lowe's Companies, Inc. (NYSE:LOW) opened at $100.86 on Friday. Lowe's Companies, Inc. has a 1 year low of $70.76 and a 1 year high of $102.28. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.12 and a current ratio of 1.02. The firm has a market cap of $79,441.27, a PE ratio of 21.23, a P/E/G ratio of 1.44 and a beta of 1.14.
Lowe's Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.03. Lowe's Companies had a net margin of 5.16% and a return on equity of 66.27%. The firm had revenue of $16.77 billion during the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter in the prior year, the firm earned $0.88 EPS. The company’s revenue for the quarter was up 6.6% on a year-over-year basis. analysts forecast 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 dividend yield of 1.63%. Lowe's Companies’s dividend payout ratio (DPR) is presently 39.33%.
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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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