Candriam Luxembourg S.C.A. lifted its position in shares of Lowe's Companies, Inc. (NYSE:LOW) by 70.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 375,688 shares of the home improvement retailer’s stock after buying an additional 155,610 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in Lowe's Companies were worth $34,916,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Vantage Financial Partners Ltd. Inc. bought a new position in Lowe's Companies during the second quarter worth $233,000. Stonehearth Capital Management LLC bought a new position in Lowe's Companies during the fourth quarter worth $112,000. Atlantic Trust LLC bought a new position in Lowe's Companies during the second quarter worth $105,000. IHT Wealth Management LLC boosted its stake in Lowe's Companies by 8.7% during the second 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. Finally, Cerebellum GP LLC bought a new position in Lowe's Companies during the fourth quarter worth $129,000. Institutional investors own 72.41% of the company’s stock.
Several research analysts recently issued reports on the stock. Atlantic Securities lowered shares of Lowe's Companies from an “overweight” rating to a “neutral” rating and set a $92.00 target price on the stock. in a research note on Tuesday, November 28th. Credit Suisse Group set a $116.00 target price on shares of Lowe's Companies and gave the stock a “buy” rating in a research note on Tuesday, January 16th. Piper Jaffray Companies reissued a “hold” rating and set a $82.00 target price on shares of Lowe's Companies in a research note on Friday, November 24th. Stifel Nicolaus reissued a “buy” rating and set a $103.00 target price on shares of Lowe's Companies in a research note on Friday, December 22nd. Finally, Zelman & Associates lowered shares of Lowe's Companies from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twenty-three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $96.35.
Lowe's Companies (NYSE:LOW) last announced its earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. The company had revenue of $16.77 billion during the quarter, compared to the consensus estimate of $16.59 billion. Lowe's Companies had a net margin of 5.16% and a return on equity of 66.27%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.88 earnings per share. sell-side analysts expect that Lowe's Companies, Inc. will post 4.52 EPS for the current year.
Lowe's Companies announced that its Board of Directors has approved a stock buyback plan on Friday, January 26th that permits the company to repurchase $5.00 billion in shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board of directors believes its stock is undervalued.
In other news, insider Nelson B. Peace sold 3,352 shares of the stock in a transaction dated Monday, November 27th. The shares were sold at an average price of $80.20, for a total value of $268,830.40. Following the completion of the sale, the insider now owns 4,650 shares in the company, valued at $372,930. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.11% of the company’s stock.
WARNING: “Lowe's Companies, Inc. (LOW) Stake Raised by Candriam Luxembourg S.C.A.” was originally posted by Community Financial News and is the sole property of of Community Financial News. If you are viewing this report on another website, it was illegally stolen and reposted in violation of U.S. and international trademark and copyright law. The correct version of this report can be read at https://www.com-unik.info/2018/02/18/lowes-companies-inc-low-stake-raised-by-candriam-luxembourg-s-c-a.html.
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.
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe's Companies, Inc. (NYSE:LOW).
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.