HL Financial Services LLC Acquires 855 Shares of Lowe’s Companies, Inc. (LOW)
HL Financial Services LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 44,172 shares of the home improvement retailer’s stock after buying an additional 855 shares during the period. HL Financial Services LLC’s holdings in Lowe’s Companies were worth $3,631,000 at the end of the most recent quarter.
Other hedge funds also recently added to or reduced their stakes in the company. Glenview Capital Management LLC bought a new stake in Lowe’s Companies during the fourth quarter worth $289,894,000. Valicenti Advisory Services Inc. increased its stake in shares of Lowe’s Companies by 5.1% in the first quarter. Valicenti Advisory Services Inc. now owns 53,675 shares of the home improvement retailer’s stock valued at $4,413,000 after buying an additional 2,625 shares in the last quarter. Norman Fields Gottscho Capital Management LLC acquired a new stake in shares of Lowe’s Companies during the first quarter valued at $765,000. CMH Wealth Management LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter valued at $1,419,000. Finally, Heritage Trust Co acquired a new stake in shares of Lowe’s Companies during the first quarter valued at $789,000. Hedge funds and other institutional investors own 74.73% of the company’s stock.
Shares of Lowe’s Companies, Inc. (NYSE LOW) traded up 0.59% on Friday, reaching $78.37. The company had a trading volume of 2,492,144 shares. The firm has a market capitalization of $66.16 billion, a price-to-earnings ratio of 24.58 and a beta of 1.08. Lowe’s Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25. The stock’s 50 day moving average is $77.18 and its 200 day moving average is $79.23.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The business had revenue of $16.86 billion for the quarter, compared to analyst estimates of $16.99 billion. During the same quarter last year, the company earned $0.87 earnings per share. Lowe’s Companies’s quarterly revenue was up 10.7% compared to the same quarter last year. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post $4.62 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 9th. Shareholders of record on Wednesday, July 26th will be given a $0.41 dividend. The ex-dividend date is Monday, July 24th. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.09%. Lowe’s Companies’s dividend payout ratio is currently 51.57%.
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Several brokerages recently weighed in on LOW. Oppenheimer Holdings, Inc. set a $100.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Wolfe Research reaffirmed an “outperform” rating and issued a $94.00 target price (down previously from $95.00) on shares of Lowe’s Companies in a report on Sunday, May 28th. Sanford C. Bernstein reaffirmed an “underperform” rating and issued a $69.00 target price on shares of Lowe’s Companies in a report on Wednesday, July 12th. BidaskClub raised Lowe’s Companies from a “strong sell” rating to a “sell” rating in a report on Wednesday. Finally, Vetr cut Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 target price for the company. in a report on Monday, May 8th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $85.39.
In other Lowe’s Companies news, insider Richard D. Maltsbarger sold 11,672 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the sale, the insider now directly owns 37,716 shares of the company’s stock, valued at approximately $3,024,823.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 0.11% of the company’s stock.
Lowe’s Companies 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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