SlateStone Wealth LLC acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm acquired 777 shares of the home improvement retailer’s stock, valued at approximately $201,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Wealth Advisory Solutions LLC lifted its holdings in Lowe’s Companies by 2.2% during the 3rd quarter. Wealth Advisory Solutions LLC now owns 2,032 shares of the home improvement retailer’s stock valued at $412,000 after purchasing an additional 43 shares during the last quarter. Trust Investment Advisors grew its holdings in Lowe’s Companies by 0.9% during the fourth quarter. Trust Investment Advisors now owns 4,702 shares of the home improvement retailer’s stock valued at $1,215,000 after purchasing an additional 43 shares during the period. Cardan Capital Partners LLC grew its holdings in Lowe’s Companies by 3.7% during the third quarter. Cardan Capital Partners LLC now owns 1,273 shares of the home improvement retailer’s stock valued at $258,000 after purchasing an additional 45 shares during the period. Avion Wealth lifted its stake in Lowe’s Companies by 6.6% in the third quarter. Avion Wealth now owns 723 shares of the home improvement retailer’s stock valued at $147,000 after buying an additional 45 shares in the last quarter. Finally, Valeo Financial Advisors LLC lifted its stake in Lowe’s Companies by 1.1% in the third quarter. Valeo Financial Advisors LLC now owns 4,081 shares of the home improvement retailer’s stock valued at $828,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 73.20% of the company’s stock.
LOW has been the topic of several research reports. Telsey Advisory Group upped their price objective on shares of Lowe’s Companies from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, February 24th. Wedbush cut their price objective on shares of Lowe’s Companies from $260.00 to $240.00 in a research report on Thursday, February 24th. Gordon Haskett cut their price objective on shares of Lowe’s Companies from $285.00 to $255.00 in a research report on Monday, March 28th. OTR Global raised shares of Lowe’s Companies from a “mixed” rating to a “positive” rating in a report on Tuesday, February 15th. Finally, Evercore ISI assumed coverage on shares of Lowe’s Companies in a report on Tuesday, February 15th. They issued an “outperform” rating for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $258.65.
NYSE LOW traded up $4.02 during trading hours on Friday, reaching $206.66. The company’s stock had a trading volume of 5,065,517 shares, compared to its average volume of 4,943,968. The firm has a market capitalization of $136.72 billion, a price-to-earnings ratio of 17.26, a P/E/G ratio of 1.23 and a beta of 1.32. Lowe’s Companies, Inc. has a 1-year low of $182.08 and a 1-year high of $263.31. The company’s 50-day moving average is $222.17 and its two-hundred day moving average is $231.94.
Lowe’s Companies (NYSE:LOW – Get Rating) last released its quarterly earnings results on Wednesday, February 23rd. The home improvement retailer reported $1.78 earnings per share for the quarter, topping analysts’ consensus estimates of $1.72 by $0.06. Lowe’s Companies had a negative return on equity of 551.52% and a net margin of 8.77%. The company had revenue of $21.34 billion during the quarter, compared to analysts’ expectations of $20.91 billion. During the same quarter in the prior year, the firm posted $1.33 EPS. Lowe’s Companies’s quarterly revenue was up 5.1% compared to the same quarter last year. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 13.4 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 4th. Investors of record on Wednesday, April 20th will be given a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, April 19th. This represents a $3.20 annualized dividend and a yield of 1.55%. Lowe’s Companies’s payout ratio is 26.73%.
Lowe’s Companies announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, December 15th that authorizes the company to repurchase $13.00 billion in outstanding shares. This repurchase authorization authorizes the home improvement retailer to repurchase up to 7.6% of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Lowe’s Companies Profile (Get Rating)
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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