Lowe’s Companies, Inc. (LOW) Position Cut by Bank of The Ozarks
Bank of The Ozarks decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,469 shares of the home improvement retailer’s stock after selling 250 shares during the period. Bank of The Ozarks’ holdings in Lowe’s Companies were worth $943,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in LOW. Washington Trust Bank raised its stake in shares of Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock valued at $102,000 after buying an additional 266 shares during the last quarter. State of Alaska Department of Revenue purchased a new position in shares of Lowe’s Companies during the first quarter valued at about $109,000. Hanson McClain Inc. raised its position in shares of Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after buying an additional 45 shares during the last quarter. First Bank & Trust raised its position in shares of Lowe’s Companies by 11.5% in the first quarter. First Bank & Trust now owns 1,421 shares of the home improvement retailer’s stock valued at $117,000 after buying an additional 147 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Lowe’s Companies during the first quarter worth $119,000. Institutional investors own 74.65% of the company’s stock.
Lowe’s Companies, Inc. (NYSE LOW) traded down 0.65% during midday trading on Friday, hitting $73.64. The stock had a trading volume of 5,153,649 shares. Lowe’s Companies, Inc. has a 52-week low of $64.87 and a 52-week high of $86.25. The firm has a 50-day moving average of $76.47 and a 200 day moving average of $79.47. The firm has a market capitalization of $62.17 billion, a P/E ratio of 23.09 and a beta of 1.08.
Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.06 by $0.03. The business had revenue of $16.86 billion for the quarter, compared to analyst estimates of $16.99 billion. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The company’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.87 earnings per share. On average, equities analysts forecast that Lowe’s Companies, Inc. will post $4.62 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 2.23%. Lowe’s Companies’s dividend payout ratio is presently 51.57%.
A number of research firms have recently weighed in on LOW. BTIG Research restated a “buy” rating and issued a $95.00 target price on shares of Lowe’s Companies in a report on Friday. Longbow Research reaffirmed a “buy” rating and set a $95.00 price target on shares of Lowe’s Companies in a research report on Monday, August 14th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a research report on Friday, August 11th. BidaskClub raised Lowe’s Companies from a “strong sell” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $87.00 target price on shares of Lowe’s Companies in a research report on Friday, July 21st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Lowe’s Companies presently has an average rating of “Hold” and a consensus price target of $85.69.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the business’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the completion of the transaction, the insider now directly owns 37,716 shares in the company, valued at $3,024,823.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.11% of the company’s stock.
About Lowe’s Companies
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.
Receive News & Stock Ratings for Lowe's Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies Inc. and related stocks with our FREE daily email newsletter.