Tower Research Capital LLC TRC reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 69.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,069 shares of the home improvement retailer’s stock after selling 27,338 shares during the period. Tower Research Capital LLC TRC’s holdings in Lowe’s Companies were worth $1,386,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Boston Partners boosted its stake in shares of Lowe’s Companies by 382.4% in the second quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock worth $457,230,000 after acquiring an additional 3,792,479 shares during the last quarter. Winslow Capital Management LLC acquired a new stake in shares of Lowe’s Companies in the second quarter worth approximately $303,908,000. Charles Schwab Investment Advisory Inc. acquired a new stake in shares of Lowe’s Companies in the second quarter worth approximately $266,540,000. Artisan Partners Limited Partnership acquired a new stake in shares of Lowe’s Companies in the second quarter worth approximately $206,665,000. Finally, FMR LLC boosted its stake in shares of Lowe’s Companies by 8.0% in the third quarter. FMR LLC now owns 21,879,740 shares of the home improvement retailer’s stock worth $2,512,233,000 after acquiring an additional 1,616,536 shares during the last quarter. 73.95% of the stock is currently owned by institutional investors.
In related news, Director Brian C. Rogers acquired 10,000 shares of the stock in a transaction on Friday, November 23rd. The shares were bought at an average price of $88.02 per share, with a total value of $880,200.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at approximately $880,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Marshall A. Croom sold 15,735 shares of the business’s stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total value of $1,803,388.35. Following the transaction, the chief financial officer now directly owns 63,099 shares in the company, valued at approximately $7,231,776.39. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.98 by $0.06. The company had revenue of $17.42 billion for the quarter, compared to analyst estimates of $17.36 billion. Lowe’s Companies had a return on equity of 72.47% and a net margin of 5.19%. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.05 earnings per share. Equities analysts anticipate that Lowe’s Companies, Inc. will post 5.11 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 6th. Shareholders of record on Wednesday, January 23rd will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date is Tuesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 43.74%.
A number of analysts have recently issued reports on the company. Wedbush set a $105.00 price target on Lowe’s Companies and gave the stock a “hold” rating in a research note on Thursday, August 23rd. Bank of America lifted their price target on Lowe’s Companies from $113.00 to $126.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Argus lifted their price target on Lowe’s Companies to $120.00 and gave the stock a “buy” rating in a research note on Thursday, August 23rd. Telsey Advisory Group lifted their price target on Lowe’s Companies from $123.00 to $126.00 and gave the stock an “outperform” rating in a research note on Friday, September 28th. Finally, Citigroup lifted their price target on Lowe’s Companies from $99.00 to $112.00 and gave the stock a “neutral” rating in a research note on Thursday, August 23rd. Ten equities research analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $109.54.
Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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