Intact Investment Management Inc. boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 180.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,600 shares of the home improvement retailer’s stock after acquiring an additional 12,600 shares during the period. Intact Investment Management Inc.’s holdings in Lowe’s Companies were worth $3,801,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in LOW. Camden National Bank lifted its position in Lowe’s Companies by 17.1% during the 4th quarter. Camden National Bank now owns 2,291 shares of the home improvement retailer’s stock worth $368,000 after acquiring an additional 335 shares during the last quarter. Ironwood Wealth Management LLC. lifted its position in Lowe’s Companies by 20.7% during the 1st quarter. Ironwood Wealth Management LLC. now owns 8,126 shares of the home improvement retailer’s stock worth $1,545,000 after acquiring an additional 1,395 shares during the last quarter. Banco Santander S.A. acquired a new position in Lowe’s Companies during the 1st quarter worth $270,000. Royce & Associates LP lifted its position in Lowe’s Companies by 13.7% during the 1st quarter. Royce & Associates LP now owns 29,000 shares of the home improvement retailer’s stock worth $5,515,000 after acquiring an additional 3,500 shares during the last quarter. Finally, Strategic Blueprint LLC acquired a new position in Lowe’s Companies during the 1st quarter worth $233,000. 72.80% of the stock is owned by hedge funds and other institutional investors.
Several research firms have recently issued reports on LOW. Wedbush downgraded shares of Lowe’s Companies from an “outperform” rating to a “neutral” rating and dropped their price objective for the stock from $225.00 to $210.00 in a report on Monday, July 26th. Morgan Stanley upped their target price on shares of Lowe’s Companies from $230.00 to $240.00 and gave the company an “overweight” rating in a research note on Tuesday, August 31st. Credit Suisse Group upped their target price on shares of Lowe’s Companies from $208.00 to $220.00 and gave the company an “outperform” rating in a research note on Thursday, August 19th. DA Davidson reissued a “buy” rating on shares of Lowe’s Companies in a research note on Thursday, August 19th. Finally, Zacks Investment Research cut shares of Lowe’s Companies from a “hold” rating to a “sell” rating and set a $205.00 target price on the stock. in a research note on Wednesday, July 28th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $216.26.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 17th. The home improvement retailer reported $4.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.01 by $0.24. Lowe’s Companies had a net margin of 7.41% and a return on equity of 541.39%. The business had revenue of $27.57 billion for the quarter, compared to analyst estimates of $26.76 billion. During the same period in the prior year, the business posted $3.75 earnings per share. Lowe’s Companies’s revenue was up 1.0% compared to the same quarter last year. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.26 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 3rd. Investors of record on Wednesday, October 20th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, October 19th. This represents a $3.20 annualized dividend and a yield of 1.54%. Lowe’s Companies’s dividend payout ratio is currently 36.12%.
Lowe’s Companies Profile
Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.
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