First Financial Bank N.A. Trust Division Purchases 1,676 Shares of Lowe’s Cos. (LOW)
First Financial Bank N.A. Trust Division boosted its stake in Lowe’s Cos. (NYSE:LOW) by 2.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 67,184 shares of the home improvement retailer’s stock after buying an additional 1,676 shares during the period. First Financial Bank N.A. Trust Division’s holdings in Lowe’s Cos. were worth $4,852,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. CWM LLC raised its stake 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 valued at $100,000 after buying an additional 4 shares during the last quarter. Livingston Group Asset Management CO operating as Southport Capital Management bought a new stake in Lowe’s Cos. during the second quarter valued at $103,000. Hanson McClain Inc. raised its stake 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 valued at $105,000 after buying an additional 198 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new stake in Lowe’s Cos. during the second quarter valued at $110,000. Finally, Roble Belko & Company Inc raised its stake 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 valued at $110,000 after buying an additional 1,257 shares during the last quarter. 73.83% of the stock is currently owned by institutional investors and hedge funds.
Shares of Lowe’s Cos. (NYSE:LOW) traded down 1.40% on Monday, hitting $71.20. The stock had a trading volume of 5,310,680 shares. The firm’s 50-day moving average price is $69.10 and its 200 day moving average price is $75.59. The firm has a market cap of $62.16 billion, a PE ratio of 26.14 and a beta of 1.25. Lowe’s Cos. has a 52-week low of $62.62 and a 52-week high of $83.65.
Lowe’s Cos. (NYSE:LOW) last released its earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.08. Lowe’s Cos. had a return on equity of 46.46% and a net margin of 3.91%. The company had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.86 billion. During the same period in the previous year, the firm earned $0.80 earnings per share. The company’s revenue for the quarter was up 9.6% compared to the same quarter last year. On average, equities research analysts predict that Lowe’s Cos. will post $3.92 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be paid 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 yield of 1.94%. Lowe’s Cos.’s payout ratio is 51.28%.
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Several brokerages have commented on LOW. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $89.00 price objective on shares of Lowe’s Cos. in a research report on Tuesday, August 16th. Cleveland Research downgraded Lowe’s Cos. from a “buy” rating to a “neutral” rating in a research report on Thursday, October 6th. BMO Capital Markets upped their price objective on Lowe’s Cos. from $76.43 to $86.00 and gave the company an “outperform” rating in a research report on Monday, August 22nd. Zacks Investment Research downgraded Lowe’s Cos. from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Finally, Vetr raised Lowe’s Cos. from a “hold” rating to a “buy” rating and set a $72.18 price objective on the stock in a research report on Wednesday, November 16th. Thirteen analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Lowe’s Cos. currently has a consensus rating of “Buy” and an average price target 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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