Lowe’s Companies, Inc. (LOW) Stake Lowered by Regentatlantic Capital LLC
Regentatlantic Capital LLC lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 81,109 shares of the home improvement retailer’s stock after selling 1,143 shares during the period. Regentatlantic Capital LLC’s holdings in Lowe’s Companies were worth $6,288,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of LOW. SRS Capital Advisors Inc. raised its position in shares of Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares during the period. Washington Trust Bank raised its position 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 worth $102,000 after buying an additional 266 shares during the period. Harbour Capital Advisors LLC purchased a new position in shares of Lowe’s Companies during the first quarter worth about $103,000. State of Alaska Department of Revenue purchased a new position in shares of Lowe’s Companies during the first quarter worth about $109,000. Finally, 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 worth $110,000 after buying an additional 45 shares during the period. Institutional investors and hedge funds own 74.65% of the company’s stock.
Lowe’s Companies, Inc. (LOW) traded down 6.09% during trading on Wednesday, hitting $71.20. 17,680,978 shares of the stock were exchanged. The firm has a market cap of $60.11 billion, a PE ratio of 22.33 and a beta of 1.08. The stock’s 50-day moving average price is $76.37 and its 200-day moving average price is $79.58. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25. Lowe’s Companies also was the target of some unusual options trading on Monday. Stock investors purchased 6,466 put options on the stock. This represents an increase of 538% compared to the typical volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by $0.05. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The business had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.58 billion. During the same quarter in the prior year, the firm posted $1.37 earnings per share. Lowe’s Companies’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, equities analysts expect that Lowe’s Companies, Inc. will post $4.62 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be given a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.64 annualized dividend and a dividend yield of 2.16%. Lowe’s Companies’s dividend payout ratio is presently 51.57%.
A number of research analysts have recently issued reports on the stock. Oppenheimer Holdings, Inc. set a $100.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a research note on Wednesday, May 24th. Wolfe Research reiterated an “outperform” rating and set a $94.00 price target (down from $95.00) on shares of Lowe’s Companies in a research note on Sunday, May 28th. Sanford C. Bernstein reiterated an “underperform” rating and set a $69.00 price target on shares of Lowe’s Companies in a research note on Wednesday, July 12th. BidaskClub upgraded shares of Lowe’s Companies from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price target on the stock in a research note on Friday, August 11th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $85.69.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was sold at an average price of $80.20, for a total value of $936,094.40. Following the completion of the transaction, the insider now directly owns 37,716 shares in the company, valued at approximately $3,024,823.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.11% of the stock is currently owned by insiders.
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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