Community Trust & Investment Co. Purchases Shares of 46,463 Lowe’s Cos. (LOW)
Community Trust & Investment Co. purchased a new position in shares of Lowe’s Cos. (NYSE:LOW) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 46,463 shares of the home improvement retailer’s stock, valued at approximately $3,355,000.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. CWM LLC raised its position in Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock worth $100,000 after buying an additional 4 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in Lowe’s Cos. during the second quarter worth about $103,000. Hanson McClain Inc. raised its position in Lowe’s Cos. by 17.5% in the second quarter. Hanson McClain Inc. now owns 1,328 shares of the home improvement retailer’s stock worth $105,000 after buying an additional 198 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lowe’s Cos. during the second quarter worth about $110,000. Finally, Roble Belko & Company Inc raised its position in Lowe’s Cos. by 966.9% in the second quarter. Roble Belko & Company Inc now owns 1,387 shares of the home improvement retailer’s stock worth $110,000 after buying an additional 1,257 shares during the last quarter. 73.83% of the stock is currently owned by institutional investors.
Shares of Lowe’s Cos. (NYSE:LOW) traded down 1.40% on Monday, reaching $71.20. The company’s stock had a trading volume of 5,315,860 shares. Lowe’s Cos. has a 1-year low of $62.62 and a 1-year high of $83.65. The firm has a market cap of $62.16 billion, a price-to-earnings ratio of 26.14 and a beta of 1.25. The company’s 50 day moving average is $69.10 and its 200-day moving average is $75.55.
Lowe’s Cos. (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.96 by $0.08. The firm had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.86 billion. Lowe’s Cos. had a return on equity of 46.46% and a net margin of 3.91%. The firm’s quarterly revenue was up 9.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.80 earnings per share. Equities research analysts expect that Lowe’s Cos. will post $3.92 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Wednesday, January 25th will be given a dividend of $0.35 per share. The ex-dividend date of this dividend is Monday, January 23rd. This represents a $1.40 annualized dividend and a dividend yield of 1.97%. Lowe’s Cos.’s dividend payout ratio is currently 51.28%.
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A number of research analysts recently issued reports on the company. Nomura set a $80.00 target price on Lowe’s Cos. and gave the stock a “hold” rating in a report on Thursday, August 18th. Jefferies Group reiterated a “hold” rating and issued a $81.00 price target on shares of Lowe’s Cos. in a research report on Thursday, August 18th. Zacks Investment Research lowered Lowe’s Cos. from a “buy” rating to a “hold” rating in a research report on Wednesday, October 26th. BMO Capital Markets reiterated a “buy” rating on shares of Lowe’s Cos. in a research report on Thursday, November 17th. Finally, Argus reiterated a “buy” rating and issued a $90.00 price target on shares of Lowe’s Cos. in a research report on Thursday, August 18th. Thirteen research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $81.93.
Lowe’s Cos. Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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