Lowe’s Cos. (LOW) Position Cut by Legacy Private Trust Co.
Legacy Private Trust Co. decreased its stake in shares of Lowe’s Cos. (NYSE:LOW) by 10.3% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 75,327 shares of the home improvement retailer’s stock after selling 8,684 shares during the period. Legacy Private Trust Co.’s holdings in Lowe’s Cos. were worth $5,439,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Ameriprise Financial Inc. boosted its position in shares of Lowe’s Cos. by 10.8% in the second quarter. Ameriprise Financial Inc. now owns 13,161,669 shares of the home improvement retailer’s stock valued at $1,042,084,000 after buying an additional 1,280,426 shares in the last quarter. Bank of Montreal Can purchased a new position in shares of Lowe’s Cos. during the second quarter valued at approximately $284,442,000. Eaton Vance Management boosted its position in shares of Lowe’s Cos. by 10.9% in the second quarter. Eaton Vance Management now owns 3,265,522 shares of the home improvement retailer’s stock valued at $258,531,000 after buying an additional 321,288 shares in the last quarter. Sustainable Growth Advisers LP boosted its position in shares of Lowe’s Cos. by 0.6% in the second quarter. Sustainable Growth Advisers LP now owns 2,873,652 shares of the home improvement retailer’s stock valued at $227,507,000 after buying an additional 15,752 shares in the last quarter. Finally, BlackRock Inc. boosted its position in shares of Lowe’s Cos. by 9.8% in the second quarter. BlackRock Inc. now owns 2,857,228 shares of the home improvement retailer’s stock valued at $226,205,000 after buying an additional 254,254 shares in the last quarter. 73.83% of the stock is owned by institutional investors.
Shares of Lowe’s Cos. (NYSE:LOW) traded down 0.23% during mid-day trading on Wednesday, hitting $70.55. 6,311,394 shares of the stock were exchanged. Lowe’s Cos. has a 12 month low of $62.62 and a 12 month high of $83.65. The stock has a market cap of $61.59 billion, a PE ratio of 25.90 and a beta of 1.25. The stock’s 50 day moving average is $69.10 and its 200-day moving average is $75.55.
Lowe’s Cos. (NYSE:LOW) last released 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 earned $15.70 billion during the quarter, compared to the consensus estimate of $15.86 billion. Lowe’s Cos. had a net margin of 3.91% and a return on equity of 46.46%. The business’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.80 earnings per share. On average, analysts anticipate 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. Investors of record on Wednesday, January 25th will be issued a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 23rd. This represents a $1.40 annualized dividend and a dividend yield of 1.98%. Lowe’s Cos.’s payout ratio is currently 51.28%.
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A number of equities analysts have commented on the stock. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $94.00 price target on shares of Lowe’s Cos. in a research note on Monday, August 29th. Vetr raised shares of Lowe’s Cos. from a “buy” rating to a “strong-buy” rating and set a $92.50 price target for the company in a research note on Friday, August 12th. Jefferies Group reissued a “hold” rating on shares of Lowe’s Cos. in a research note on Monday, September 12th. JPMorgan Chase & Co. cut shares of Lowe’s Cos. from an “overweight” rating to a “neutral” rating and cut their price target for the stock from $87.00 to $72.00 in a research note on Wednesday, October 26th. Finally, Zacks Investment Research cut shares of Lowe’s Cos. from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. Thirteen analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $81.93.
In related news, insider Marshall A. Croom sold 6,300 shares of Lowe’s Cos. stock in a transaction dated Monday, November 28th. The stock was sold at an average price of $71.52, for a total value of $450,576.00. Following the completion of the sale, the insider now directly owns 40,602 shares in the company, valued at $2,903,855.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is owned by corporate insiders.
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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