Lowe’s Companies, Inc. (LOW) Stake Increased by Janney Montgomery Scott LLC
Janney Montgomery Scott LLC raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 8.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 120,166 shares of the home improvement retailer’s stock after acquiring an additional 9,129 shares during the period. Janney Montgomery Scott LLC’s holdings in Lowe’s Companies were worth $13,798,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in LOW. Fisher Asset Management LLC lifted its stake in shares of Lowe’s Companies by 5.3% in the second quarter. Fisher Asset Management LLC now owns 34,263 shares of the home improvement retailer’s stock valued at $3,275,000 after purchasing an additional 1,733 shares during the period. Xact Kapitalforvaltning AB lifted its stake in shares of Lowe’s Companies by 4.2% in the second quarter. Xact Kapitalforvaltning AB now owns 155,707 shares of the home improvement retailer’s stock valued at $14,881,000 after purchasing an additional 6,284 shares during the period. First Citizens Bank & Trust Co. acquired a new stake in shares of Lowe’s Companies in the second quarter valued at about $373,000. Bremer Trust National Association acquired a new stake in shares of Lowe’s Companies in the second quarter valued at about $228,000. Finally, Addenda Capital Inc. lifted its stake in shares of Lowe’s Companies by 91.5% in the second quarter. Addenda Capital Inc. now owns 69,995 shares of the home improvement retailer’s stock valued at $6,402,000 after purchasing an additional 33,437 shares during the period. Institutional investors own 74.59% of the company’s stock.
Several analysts recently commented on LOW shares. Morgan Stanley reduced their price objective on shares of Lowe’s Companies from $125.00 to $110.00 and set an “overweight” rating for the company in a research note on Tuesday, October 23rd. Citigroup upgraded shares of Lowe’s Companies from a “neutral” rating to a “buy” rating and set a $112.00 price objective for the company in a research note on Tuesday, October 23rd. Royal Bank of Canada raised their price objective on shares of Lowe’s Companies to $118.00 and gave the company an “outperform” rating in a research note on Thursday, August 23rd. Loop Capital set a $115.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, July 18th. Finally, Wedbush set a $115.00 target price on shares of Lowe’s Companies and gave the company a “neutral” rating in a report on Monday, October 15th. Nine investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $112.41.
Shares of NYSE LOW opened at $96.82 on Friday. The stock has a market cap of $81.31 billion, a PE ratio of 19.92, a PEG ratio of 1.35 and a beta of 1.52. Lowe’s Companies, Inc. has a 12 month low of $77.14 and a 12 month high of $117.70. The company has a quick ratio of 0.25, a current ratio of 1.06 and a debt-to-equity ratio of 2.58.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. The business had revenue of $20.89 billion during the quarter, compared to the consensus estimate of $20.79 billion. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The company’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.57 earnings per share. On average, research analysts predict that Lowe’s Companies, Inc. will post 5.18 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Stockholders of record on Wednesday, January 23rd will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.98%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.74%.
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Lowe’s Companies 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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