MUFG Americas Holdings Corp Acquires 4,199 Shares of Lowe’s (LOW)
MUFG Americas Holdings Corp boosted its holdings in shares of Lowe’s (NYSE:LOW) by 4.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 109,401 shares of the home improvement retailer’s stock after purchasing an additional 4,199 shares during the quarter. MUFG Americas Holdings Corp’s holdings in Lowe’s were worth $9,600,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Glenview State Bank Trust DEPT. bought a new position in Lowe’s during the fourth quarter valued at $204,000. Clark Capital Management Group Inc. increased its position in Lowe’s by 10.1% during the fourth quarter. Clark Capital Management Group Inc. now owns 11,156 shares of the home improvement retailer’s stock valued at $1,037,000 after acquiring an additional 1,019 shares during the last quarter. TRUE Private Wealth Advisors bought a new position in Lowe’s during the fourth quarter valued at $465,000. Capital Investment Advisory Services LLC increased its position in Lowe’s by 14.5% during the fourth quarter. Capital Investment Advisory Services LLC now owns 36,026 shares of the home improvement retailer’s stock valued at $3,348,000 after acquiring an additional 4,563 shares during the last quarter. Finally, Meadow Creek Investment Management LLC increased its position in Lowe’s by 49.7% during the fourth quarter. Meadow Creek Investment Management LLC now owns 23,584 shares of the home improvement retailer’s stock valued at $2,192,000 after acquiring an additional 7,832 shares during the last quarter. Institutional investors and hedge funds own 73.15% of the company’s stock.
A number of research analysts have weighed in on LOW shares. Consumer Edge upgraded shares of Lowe’s from a “neutral” rating to an “outperform” rating in a research report on Tuesday, January 16th. Credit Suisse Group set a $116.00 price objective on shares of Lowe’s and gave the company a “buy” rating in a research report on Tuesday, January 16th. BTIG Research boosted their price objective on shares of Lowe’s to $115.00 and gave the company a “buy” rating in a research report on Friday, January 19th. Sanford C. Bernstein upgraded shares of Lowe’s from an “underperform” rating to an “outperform” rating in a research report on Monday, January 22nd. Finally, Morgan Stanley set a $115.00 price objective on shares of Lowe’s and gave the company a “buy” rating in a research report on Monday, January 22nd. Two analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $99.00.
Lowe’s (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.13). Lowe’s had a return on equity of 65.17% and a net margin of 5.02%. The business had revenue of $15.49 billion during the quarter, compared to analysts’ expectations of $15.34 billion. During the same period last year, the company earned $0.86 earnings per share. The firm’s revenue was down 1.8% compared to the same quarter last year. analysts predict that Lowe’s will post 5.46 earnings per share for the current fiscal year.
Lowe’s announced that its board has authorized a share buyback program on Friday, January 26th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the home improvement retailer to repurchase shares of its stock through open market purchases. Shares repurchase programs are typically an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 9th. Investors of record on Wednesday, April 25th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend was Tuesday, April 24th. Lowe’s’s dividend payout ratio (DPR) is presently 37.36%.
Lowe’s Company Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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