Traders Sell Lowe’s Companies, Inc. (LOW) on Strength (LOW)
Traders sold shares of Lowe’s Companies, Inc. (NYSE:LOW) on strength during trading on Monday. $61.40 million flowed into the stock on the tick-up and $161.86 million flowed out of the stock on the tick-down, for a money net flow of $100.46 million out of the stock. Of all stocks tracked, Lowe’s Companies had the 0th highest net out-flow for the day. Lowe’s Companies traded up $0.85 for the day and closed at $80.79
A number of brokerages have issued reports on LOW. BMO Capital Markets reiterated a “buy” rating and set a $89.00 price target on shares of Lowe’s Companies in a research report on Thursday, July 20th. Zacks Investment Research raised Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Monday, September 11th. J P Morgan Chase & Co reissued a “neutral” rating and set a $83.00 price target (down from $89.00) on shares of Lowe’s Companies in a report on Thursday, August 24th. Longbow Research reissued a “buy” rating and set a $95.00 price target on shares of Lowe’s Companies in a report on Monday, August 14th. Finally, Morgan Stanley cut their price objective on shares of Lowe’s Companies from $88.00 to $81.00 and set an “overweight” rating on the stock in a research note on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $85.12.
The firm has a 50 day moving average price of $76.70 and a 200-day moving average price of $79.40. The stock has a market capitalization of $67.75 billion, a P/E ratio of 23.10 and a beta of 1.07. Lowe’s Companies also was the recipient of unusually large options trading on Monday. Stock traders purchased 6,466 put options on the company. This represents an increase of approximately 538% compared to the typical volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results 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 4.51% and a return on equity of 62.02%. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.58 billion. During the same period in the prior year, the business earned $1.37 EPS. The business’s revenue for the quarter was up 6.8% compared to the same quarter last year. On average, analysts anticipate that Lowe’s Companies, Inc. will post $4.50 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.64 annualized dividend and a dividend yield of 2.02%. Lowe’s Companies’s dividend payout ratio is currently 46.20%.
In related news, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the transaction, the senior vice president now owns 30,750 shares in the company, valued at $2,407,725. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the stock in a transaction on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total transaction of $163,685.96. Following the transaction, the insider now owns 8,400 shares of the company’s stock, valued at approximately $655,368. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.
A number of hedge funds have recently modified their holdings of LOW. Waldron LP bought a new position in shares of Lowe’s Companies in the 1st quarter valued at about $364,000. Grimes & Company Inc. acquired a new stake in shares of Lowe’s Companies in the first quarter valued at about $331,000. LSV Asset Management increased its position in shares of Lowe’s Companies by 29.4% in the first quarter. LSV Asset Management now owns 68,600 shares of the home improvement retailer’s stock valued at $5,639,000 after acquiring an additional 15,600 shares during the last quarter. Nwam LLC acquired a new stake in shares of Lowe’s Companies in the first quarter valued at about $227,000. Finally, Chicago Equity Partners LLC increased its position in shares of Lowe’s Companies by 42.1% in the first quarter. Chicago Equity Partners LLC now owns 4,560 shares of the home improvement retailer’s stock valued at $375,000 after acquiring an additional 1,350 shares during the last quarter. Hedge funds and other institutional investors own 74.22% of the company’s stock.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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