D.A. Davidson & CO. grew its position in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 2.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,421 shares of the home improvement retailer’s stock after purchasing an additional 2,786 shares during the quarter. D.A. Davidson & CO.’s holdings in Lowe’s Companies were worth $23,564,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
→ The Next Big Crisis Is Here (From Porter & Company)
Other hedge funds have also modified their holdings of the company. Allworth Financial LP boosted its position in shares of Lowe’s Companies by 13.0% in the third quarter. Allworth Financial LP now owns 11,173 shares of the home improvement retailer’s stock worth $2,098,000 after purchasing an additional 1,283 shares during the period. Financial Strategies Group Inc. boosted its position in shares of Lowe’s Companies by 26.2% in the third quarter. Financial Strategies Group Inc. now owns 5,916 shares of the home improvement retailer’s stock worth $1,111,000 after purchasing an additional 1,229 shares during the period. New Millennium Group LLC bought a new position in shares of Lowe’s Companies during the second quarter worth $47,000. Capital Analysts LLC boosted its position in shares of Lowe’s Companies by 1.8% during the second quarter. Capital Analysts LLC now owns 23,455 shares of the home improvement retailer’s stock worth $4,097,000 after acquiring an additional 425 shares during the last quarter. Finally, Wealthspire Advisors LLC boosted its position in shares of Lowe’s Companies by 21.5% during the second quarter. Wealthspire Advisors LLC now owns 2,964 shares of the home improvement retailer’s stock worth $518,000 after acquiring an additional 524 shares during the last quarter. 72.62% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities analysts recently weighed in on the stock. Morgan Stanley dropped their target price on shares of Lowe’s Companies from $270.00 to $235.00 and set an “overweight” rating for the company in a research report on Tuesday, January 17th. Loop Capital dropped their target price on shares of Lowe’s Companies from $210.00 to $200.00 in a research report on Friday, December 9th. Jefferies Financial Group upped their target price on shares of Lowe’s Companies from $255.00 to $259.00 and gave the stock a “buy” rating in a research report on Monday, October 3rd. Exane BNP Paribas lowered shares of Lowe’s Companies from a “neutral” rating to an “underperform” rating and set a $159.00 target price for the company. in a research report on Wednesday, October 19th. Finally, Telsey Advisory Group dropped their target price on shares of Lowe’s Companies to $250.00 in a research report on Monday, December 12th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $229.12.
Insider Buying and Selling
In related news, EVP Ross W. Mccanless sold 57,629 shares of the firm’s stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $211.35, for a total value of $12,179,889.15. Following the transaction, the executive vice president now owns 26,923 shares of the company’s stock, valued at approximately $5,690,176.05. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by insiders.
Lowe’s Companies Price Performance
Shares of LOW traded down $0.38 during midday trading on Friday, hitting $201.43. The stock had a trading volume of 1,227,199 shares, compared to its average volume of 2,849,294. Lowe’s Companies, Inc. has a 1 year low of $170.12 and a 1 year high of $240.71. The firm has a market cap of $125.03 billion, a PE ratio of 19.69, a price-to-earnings-growth ratio of 1.14 and a beta of 1.16. The stock’s 50 day moving average is $205.84 and its 200 day moving average is $199.00.
Lowe’s Companies (NYSE:LOW – Get Rating) last announced its earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.16. Lowe’s Companies had a net margin of 6.97% and a negative return on equity of 103.72%. The business had revenue of $23.48 billion for the quarter, compared to the consensus estimate of $23.16 billion. During the same quarter in the prior year, the firm posted $2.73 earnings per share. The business’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 13.73 earnings per share for the current fiscal year.
Lowe’s Companies Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Tuesday, January 24th. Lowe’s Companies’s dividend payout ratio is presently 41.14%.
Lowe’s Companies Company Profile
Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, 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.
Further Reading
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected].
Before you consider Lowe’s Companies, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and Lowe’s Companies wasn’t on the list.
While Lowe’s Companies currently has a “Moderate Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
20 Stocks to Sell Now
MarketBeat has just released its list of 20 stocks that Wall Street analysts hate. These companies may appear to have good fundamentals, but top analysts smell something seriously rotten. Are any of these companies lurking around your portfolio? Find out by entering your email address below.
