Lowe Brockenbrough & Co. Inc. lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 73,728 shares of the home improvement retailer’s stock after selling 577 shares during the period. Lowe’s Companies accounts for 1.2% of Lowe Brockenbrough & Co. Inc.’s investment portfolio, making the stock its 23rd biggest holding. Lowe Brockenbrough & Co. Inc.’s holdings in Lowe’s Companies were worth $8,465,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of LOW. Victory Capital Management Inc. increased its stake in shares of Lowe’s Companies by 8.9% during the 2nd quarter. Victory Capital Management Inc. now owns 46,227 shares of the home improvement retailer’s stock worth $4,418,000 after purchasing an additional 3,770 shares during the last quarter. Virginia Retirement Systems ET AL purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $717,000. Gideon Capital Advisors Inc. purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $419,000. CIBC World Markets Inc. increased its stake in shares of Lowe’s Companies by 2.7% during the 2nd quarter. CIBC World Markets Inc. now owns 56,674 shares of the home improvement retailer’s stock worth $5,416,000 after purchasing an additional 1,500 shares during the last quarter. Finally, Bailard Inc. purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $350,000. Institutional investors own 73.87% of the company’s stock.
Lowe’s Companies stock opened at $93.36 on Friday. Lowe’s Companies, Inc. has a 1-year low of $81.16 and a 1-year high of $117.70. The company has a market capitalization of $74.96 billion, a P/E ratio of 18.52, a price-to-earnings-growth ratio of 1.29 and a beta of 1.55. The company has a quick ratio of 0.18, a current ratio of 1.00 and a debt-to-equity ratio of 2.68.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 6th. Investors of record on Wednesday, January 23rd will be paid a $0.48 dividend. The ex-dividend date is Tuesday, January 22nd. This represents a $1.92 dividend on an annualized basis and a yield of 2.06%. Lowe’s Companies’s dividend payout ratio is 43.74%.
In other Lowe’s Companies news, CFO Marshall A. Croom sold 15,735 shares of the firm’s stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total value of $1,803,388.35. Following the completion of the transaction, the chief financial officer now directly owns 63,099 shares of the company’s stock, valued at approximately $7,231,776.39. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Brian C. Rogers purchased 10,000 shares of the business’s stock in a transaction on Friday, November 23rd. The stock was purchased at an average cost of $88.02 per share, with a total value of $880,200.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at $880,200. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by insiders.
LOW has been the subject of several research analyst reports. Jefferies Financial Group initiated coverage on shares of Lowe’s Companies in a research note on Tuesday, August 21st. They set a “buy” rating and a $118.00 price target for the company. SunTrust Banks upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a research note on Friday, September 28th. Morgan Stanley raised their price target on shares of Lowe’s Companies from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 11th. Robert W. Baird restated an “outperform” rating and set a $130.00 price target (up previously from $120.00) on shares of Lowe’s Companies in a research note on Monday, September 17th. Finally, Wells Fargo & Co restated a “buy” rating on shares of Lowe’s Companies in a research note on Thursday, September 13th. Ten investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. Lowe’s Companies presently has a consensus rating of “Buy” and an average target price of $111.92.
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Lowe’s Companies Profile
Lowe’s Cos., Inc engages in the retail sale of home improvement products. It 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.
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