Wealthfront Inc. Sells 3,148 Shares of Lowe’s Companies, Inc. (LOW)
Wealthfront Inc. lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 18.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,061 shares of the home improvement retailer’s stock after selling 3,148 shares during the quarter. Wealthfront Inc.’s holdings in Lowe’s Companies were worth $1,090,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of LOW. SRS Capital Advisors Inc. boosted its position in Lowe’s Companies by 0.4% during the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after purchasing an additional 5 shares in the last quarter. Harbour Capital Advisors LLC bought a new stake in Lowe’s Companies during the first quarter valued at about $103,000. Hanson McClain Inc. boosted its position in Lowe’s Companies by 3.5% during the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after purchasing an additional 45 shares in the last quarter. State of Alaska Department of Revenue boosted its position in Lowe’s Companies by 8.3% during the second quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after purchasing an additional 110 shares in the last quarter. Finally, Balentine LLC bought a new stake in Lowe’s Companies during the first quarter valued at about $120,000. 74.35% of the stock is currently owned by institutional investors.
In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The stock was 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the firm’s stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the completion of the sale, the insider now directly owns 8,400 shares in the company, valued at $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 equities research analysts recently weighed in on the company. Bank of America Corporation assumed coverage on Lowe’s Companies in a research report on Tuesday, September 5th. They set a “buy” rating and a $95.00 price objective on the stock. 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 research note on Friday, August 11th. BMO Capital Markets reiterated a “buy” rating and issued a $89.00 price target on shares of Lowe’s Companies in a research note on Thursday, July 20th. Jefferies Group LLC reiterated a “hold” rating and issued a $89.00 price target on shares of Lowe’s Companies in a research note on Friday, July 21st. Finally, Royal Bank Of Canada decreased their price target on Lowe’s Companies from $85.00 to $81.00 and set an “outperform” rating for the company in a research note on Thursday, August 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the stock. Lowe’s Companies currently has an average rating of “Hold” and an average price target of $85.84.
Lowe’s Companies, Inc. (NYSE LOW) opened at $77.49 on Friday. 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 $65,352.96, a P/E ratio of 17.99, a P/E/G ratio of 1.27 and a beta of 1.13. Lowe’s Companies, Inc. has a 12-month low of $65.12 and a 12-month high of $86.25.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate of $1.62 by ($0.05). The company had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The firm’s revenue was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.37 earnings per share. equities analysts predict that Lowe’s Companies, Inc. will post 4.5 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.12%. Lowe’s Companies’s dividend payout ratio is currently 46.20%.
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About Lowe’s Companies
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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