Private Capital Management Inc. Has $735,000 Stake in Lowe’s Companies, Inc. (LOW)
Private Capital Management Inc. grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 32.4% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,200 shares of the home improvement retailer’s stock after buying an additional 2,250 shares during the quarter. Private Capital Management Inc.’s holdings in Lowe’s Companies were worth $735,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also added to or reduced their stakes in LOW. Vanguard Group Inc. grew its stake in Lowe’s Companies by 4.3% in the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock worth $5,250,843,000 after purchasing an additional 2,650,045 shares in the last quarter. Blue Edge Capital LLC bought a new position in Lowe’s Companies in the first quarter worth approximately $727,000. Sumitomo Mitsui Asset Management Company LTD grew its stake in Lowe’s Companies by 11.8% in the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 105,471 shares of the home improvement retailer’s stock worth $8,177,000 after purchasing an additional 11,119 shares in the last quarter. Summit Global Investments bought a new position in Lowe’s Companies in the second quarter worth approximately $1,421,000. Finally, Ffcm LLC grew its stake in Lowe’s Companies by 6.4% in the second quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock worth $2,395,000 after purchasing an additional 1,853 shares in the last quarter. 73.29% of the stock is currently owned by hedge funds and other institutional investors.
In other news, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the sale, the senior vice president now owns 30,750 shares in the company, valued at approximately $2,407,725. The sale was disclosed in a document filed with the SEC, 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 shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the sale, 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. In the last quarter, insiders have sold 13,303 shares of company stock valued at $1,047,406. Company insiders own 0.11% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, beating 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 business had revenue of $16.77 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter last year, the firm earned $0.88 EPS. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. equities research analysts forecast that Lowe’s Companies, Inc. will post 4.51 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a dividend yield of 1.92%. Lowe’s Companies’s dividend payout ratio is presently 39.33%.
Several research analysts recently issued reports on the company. Longbow Research reissued a “buy” rating and issued a $95.00 price objective on shares of Lowe’s Companies in a research note on Monday, August 14th. Jefferies Group reissued a “hold” rating and issued a $75.00 price objective on shares of Lowe’s Companies in a research note on Thursday, September 28th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective on the stock in a research note on Friday, August 11th. Piper Jaffray Companies reissued a “hold” rating and issued a $80.00 price objective on shares of Lowe’s Companies in a research note on Friday, September 29th. Finally, Gordon Haskett assumed coverage on Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and sixteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and an average price target of $87.40.
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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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