Concentric Wealth Management LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 8.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,205 shares of the home improvement retailer’s stock after selling 200 shares during the period. Concentric Wealth Management LLC’s holdings in Lowe’s Companies were worth $498,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Field & Main Bank raised its stake in Lowe’s Companies by 107.3% during the 2nd quarter. Field & Main Bank now owns 114 shares of the home improvement retailer’s stock worth $26,000 after buying an additional 59 shares during the period. Ritter Daniher Financial Advisory LLC DE grew its holdings in Lowe’s Companies by 357.1% during the first quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the home improvement retailer’s stock worth $26,000 after purchasing an additional 100 shares during the period. Sanctuary Wealth Management L.L.C. bought a new position in Lowe’s Companies during the second quarter worth about $40,000. True Wealth Design LLC bought a new position in Lowe’s Companies during the fourth quarter worth about $42,000. Finally, AXS Investments LLC boosted its holdings in shares of Lowe’s Companies by 24.5% during the first quarter. AXS Investments LLC now owns 285 shares of the home improvement retailer’s stock worth $57,000 after acquiring an additional 56 shares during the period. 71.88% of the stock is currently owned by institutional investors.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on LOW shares. UBS Group boosted their price objective on Lowe’s Companies from $250.00 to $265.00 and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Morgan Stanley upped their price target on shares of Lowe’s Companies from $235.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 23rd. The Goldman Sachs Group lowered their price target on shares of Lowe’s Companies from $260.00 to $252.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Evercore ISI reduced their price objective on shares of Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating on the stock in a research note on Friday, September 8th. Finally, Wedbush reaffirmed a “neutral” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 23rd. Thirteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $243.52.
Lowe’s Companies Trading Up 2.2 %
Shares of Lowe’s Companies stock traded up $4.11 on Friday, hitting $194.60. 2,381,673 shares of the company traded hands, compared to its average volume of 2,543,010. The firm’s 50-day simple moving average is $204.93 and its 200 day simple moving average is $213.32. The company has a market cap of $112.31 billion, a P/E ratio of 19.16, a P/E/G ratio of 1.25 and a beta of 1.07. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $237.21.
Lowe’s Companies (NYSE:LOW – Get Free Report) last issued its earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, topping analysts’ consensus estimates of $4.49 by $0.07. The company had revenue of $24.96 billion for the quarter, compared to analysts’ expectations of $24.97 billion. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the company earned $4.67 EPS. Analysts predict that Lowe’s Companies, Inc. will post 13.38 earnings per share for the current year.
Lowe’s Companies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th were paid a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Tuesday, October 24th. Lowe’s Companies’s payout ratio is currently 43.31%.
Insiders Place Their Bets
In other news, EVP Joseph Michael Mcfarland sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the completion of the transaction, the executive vice president now directly owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the completion of the transaction, the executive vice president now directly owns 46,594 shares in the company, valued at $10,368,562.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Janice Dupre sold 5,380 shares of the company’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the transaction, the executive vice president now owns 24,216 shares of the company’s stock, valued at $5,600,676.48. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.
About Lowe’s Companies
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.
Further Reading
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