Hosking Partners LLP cut its stake in shares of Lowe's Companies, Inc. (NYSE:LOW) by 71.0% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 78,756 shares of the home improvement retailer’s stock after selling 192,841 shares during the period. Hosking Partners LLP’s holdings in Lowe's Companies were worth $7,320,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Summit Global Investments acquired a new position in Lowe's Companies in the second quarter valued at approximately $1,421,000. Glenview State Bank Trust DEPT. acquired a new position in Lowe's Companies in the fourth quarter valued at approximately $204,000. Ffcm LLC boosted its holdings in Lowe's Companies by 6.4% in the second quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock valued at $2,395,000 after purchasing an additional 1,853 shares in the last quarter. Burney Co. boosted its holdings in Lowe's Companies by 3.9% in the second quarter. Burney Co. now owns 145,724 shares of the home improvement retailer’s stock valued at $11,162,000 after purchasing an additional 5,453 shares in the last quarter. Finally, PGGM Investments boosted its holdings in Lowe's Companies by 45.8% in the third quarter. PGGM Investments now owns 986,226 shares of the home improvement retailer’s stock valued at $78,839,000 after purchasing an additional 309,870 shares in the last quarter. 73.78% of the stock is owned by institutional investors and hedge funds.
In other 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 transaction 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is owned by corporate insiders.
Lowe's Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter in the prior year, the business earned $0.88 earnings per share. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. research analysts forecast that Lowe's Companies, Inc. will post 4.53 EPS for the current fiscal year.
Lowe's Companies announced that its board has approved a stock buyback program on Friday, January 26th that authorizes the company to buyback $5.00 billion in shares. This buyback authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.
LOW has been the subject of a number of research analyst reports. Zacks Investment Research raised Lowe's Companies from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Royal Bank of Canada set a $81.00 price target on Lowe's Companies and gave the company a “buy” rating in a report on Monday, October 30th. Robert W. Baird set a $87.00 price target on Lowe's Companies and gave the company a “buy” rating in a report on Tuesday, October 31st. BMO Capital Markets reaffirmed a “hold” rating and issued a $82.00 price target on shares of Lowe's Companies in a report on Thursday, November 2nd. Finally, KeyCorp initiated coverage on Lowe's Companies in a report on Monday, November 6th. They issued an “overweight” rating and a $98.00 price target for the company. 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 stock currently has an average rating of “Buy” and an average target price of $96.35.
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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.
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