Lowe’s Companies, Inc. (LOW) Position Boosted by Nationwide Fund Advisors
Nationwide Fund Advisors lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 656,532 shares of the home improvement retailer’s stock after acquiring an additional 11,484 shares during the quarter. Nationwide Fund Advisors owned approximately 0.08% of Lowe’s Companies worth $52,483,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Vantage Financial Partners Ltd. Inc. purchased a new stake in Lowe’s Companies in the second quarter worth $233,000. SRS Capital Advisors Inc. grew its stake in 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 purchasing an additional 5 shares during the period. Harbour Capital Advisors LLC purchased a new stake in Lowe’s Companies in the first quarter worth $103,000. Atlantic Trust LLC purchased a new stake in Lowe’s Companies in the second quarter worth $105,000. Finally, IHT Wealth Management LLC grew its stake in Lowe’s Companies by 8.7% in the second quarter. IHT Wealth Management LLC now owns 1,368 shares of the home improvement retailer’s stock worth $154,000 after purchasing an additional 110 shares during the period. Institutional investors own 73.29% of the company’s stock.
LOW has been the topic of a number of recent research reports. Zacks Investment Research cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Longbow Research reissued a “buy” rating and issued a $95.00 target price on shares of Lowe’s Companies in a research note on Monday, August 14th. BTIG Research reissued a “buy” rating and issued a $95.00 target price on shares of Lowe’s Companies in a research note on Friday, August 18th. Credit Suisse Group reissued an “outperform” rating and issued a $94.00 target price on shares of Lowe’s Companies in a research note on Monday, August 21st. They noted that the move was a valuation call. Finally, Oppenheimer set a $100.00 target price on Lowe’s Companies and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $87.40.
Lowe’s Companies, Inc. (LOW) traded up $3.81 during midday trading on Tuesday, hitting $88.04. The stock had a trading volume of 13,046,100 shares, compared to its average volume of 5,908,106. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.12. Lowe’s Companies, Inc. has a 1 year low of $70.49 and a 1 year high of $88.48. The company has a market capitalization of $69,995.13, a P/E ratio of 18.68, a P/E/G ratio of 1.35 and a beta of 1.15.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, topping the consensus estimate of $1.02 by $0.03. Lowe’s Companies had a return on equity of 66.27% and a net margin of 5.16%. The firm had revenue of $16.77 billion for the quarter, compared to the consensus estimate of $16.59 billion. During the same quarter last year, the company earned $0.88 earnings per share. The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. analysts forecast that Lowe’s Companies, Inc. will post 4.51 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 1.86%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.33%.
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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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