Krueger & Catalano Capital Partners LLC bought a new stake in Lowe's Companies, Inc. (NYSE:LOW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 24,663 shares of the home improvement retailer’s stock, valued at approximately $2,292,000. Lowe's Companies comprises 1.9% of Krueger & Catalano Capital Partners LLC’s investment portfolio, making the stock its 16th largest position.
Other institutional investors have also recently bought and sold shares of the company. Summit Global Investments acquired a new position in Lowe's Companies in the 2nd quarter valued at about $1,421,000. Glenview State Bank Trust DEPT. acquired a new position in Lowe's Companies in the 4th quarter valued at about $204,000. Ffcm LLC increased its position in Lowe's Companies by 6.4% in the 2nd quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock valued at $2,395,000 after acquiring an additional 1,853 shares during the period. Burney Co. increased its position in Lowe's Companies by 3.9% in the 2nd quarter. Burney Co. now owns 145,724 shares of the home improvement retailer’s stock valued at $11,162,000 after acquiring an additional 5,453 shares during the period. Finally, PGGM Investments increased its position in Lowe's Companies by 45.8% in the 3rd quarter. PGGM Investments now owns 986,226 shares of the home improvement retailer’s stock valued at $78,839,000 after acquiring an additional 309,870 shares during the period. 72.41% 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 sale, 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 is accessible through this hyperlink. Corporate insiders own 0.11% of the company’s stock.
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 analysts’ consensus estimates of $1.02 by $0.03. The business had revenue of $16.77 billion for the quarter, compared to analysts’ expectations of $16.59 billion. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 EPS. analysts expect that Lowe's Companies, Inc. will post 4.53 earnings per share for the current year.
Lowe's Companies announced that its board has initiated a share repurchase plan on Friday, January 26th that authorizes the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s board believes its shares are undervalued.
Several equities analysts recently issued reports on LOW shares. Zacks Investment Research upgraded Lowe's Companies from a “sell” rating to a “hold” rating in a research report on Tuesday, October 24th. Royal Bank of Canada set a $81.00 target price on Lowe's Companies and gave the stock a “buy” rating in a research report on Monday, October 30th. Robert W. Baird set a $87.00 target price on Lowe's Companies and gave the stock a “buy” rating in a research report on Tuesday, October 31st. BMO Capital Markets reiterated a “hold” rating and set a $82.00 target price on shares of Lowe's Companies in a research report on Thursday, November 2nd. Finally, KeyCorp began coverage on Lowe's Companies in a research report on Monday, November 6th. They set an “overweight” rating and a $98.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $96.35.
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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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