Lowe’s Companies, Inc. (LOW) Position Increased by Lazard Asset Management LLC
Lazard Asset Management LLC boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 14.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 2,640,815 shares of the home improvement retailer’s stock after purchasing an additional 324,727 shares during the quarter. Lazard Asset Management LLC owned about 0.31% of Lowe’s Companies worth $204,742,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also modified their holdings of LOW. Assetmark Inc. raised its stake in Lowe’s Companies by 2.8% during the 1st quarter. Assetmark Inc. now owns 9,072 shares of the home improvement retailer’s stock valued at $746,000 after purchasing an additional 251 shares during the period. Carret Asset Management LLC raised its stake in Lowe’s Companies by 0.7% during the 1st quarter. Carret Asset Management LLC now owns 11,027 shares of the home improvement retailer’s stock valued at $907,000 after purchasing an additional 75 shares during the period. Rational Advisors LLC bought a new stake in Lowe’s Companies during the 1st quarter valued at approximately $814,000. Family Legacy Inc. bought a new stake in Lowe’s Companies during the 1st quarter valued at approximately $1,699,000. Finally, Keybank National Association OH raised its stake in Lowe’s Companies by 9.5% during the 1st quarter. Keybank National Association OH now owns 471,938 shares of the home improvement retailer’s stock valued at $38,779,000 after purchasing an additional 40,924 shares during the period. 74.35% of the stock is currently owned by institutional investors.
In other Lowe’s Companies news, insider Paul D. Ramsay sold 2,098 shares of Lowe’s Companies 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 completion of the sale, the insider now directly owns 8,400 shares of the company’s stock, valued at approximately $655,368. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Matthew V. Hollifield sold 7,853 shares of Lowe’s Companies stock in a transaction on Friday, September 22nd. The shares were sold at an average price of $78.30, for a total value of $614,889.90. Following the sale, the senior vice president now directly owns 30,750 shares of the company’s stock, valued at $2,407,725. The disclosure for this sale can be found here. Insiders own 0.11% of the company’s stock.
Several equities analysts have weighed in on the company. Sanford C. Bernstein restated an “underperform” rating and set a $69.00 price target on shares of Lowe’s Companies in a report on Wednesday, July 12th. BidaskClub upgraded Lowe’s Companies from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies restated a “hold” rating and set a $80.00 price target on shares of Lowe’s Companies in a report on Friday, September 29th. Robert W. Baird set a $87.00 price target on Lowe’s Companies and gave the company a “buy” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Friday, August 11th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $85.84.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) opened at $77.63 on Wednesday. The company has a current ratio of 1.03, a quick ratio of 0.19 and a debt-to-equity ratio of 2.85. The firm has a market capitalization of $64,792.17, a price-to-earnings ratio of 17.84, a price-to-earnings-growth ratio of 1.26 and a beta of 1.13. Lowe’s Companies, Inc. has a 1 year low of $64.87 and a 1 year high of $86.25.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.05). The firm had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period last year, the firm earned $1.37 earnings per share. equities research analysts predict that Lowe’s Companies, Inc. will post 4.5 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders 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 2.11%. The ex-dividend date is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 46.20%.
Lowe’s Companies 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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