Northern Oak Wealth Management Inc. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 19.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,564 shares of the home improvement retailer’s stock after selling 375 shares during the period. Northern Oak Wealth Management Inc.’s holdings in Lowe’s Companies were worth $158,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Advisors Preferred LLC purchased a new stake in Lowe’s Companies in the 1st quarter worth approximately $26,000. Icon Wealth Partners LLC purchased a new stake in shares of Lowe’s Companies during the 1st quarter valued at $26,000. Weaver Consulting Group purchased a new stake in shares of Lowe’s Companies during the 1st quarter valued at $28,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Lowe’s Companies during the 1st quarter valued at $33,000. Finally, Thor Advisors LLC purchased a new stake in shares of Lowe’s Companies during the 1st quarter valued at $35,000. Hedge funds and other institutional investors own 76.67% of the company’s stock.
In other Lowe’s Companies news, insider Marvin R. Ellison purchased 10,000 shares of the firm’s stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average cost of $95.05 per share, with a total value of $950,500.00. Following the transaction, the insider now owns 80,090 shares in the company, valued at $7,612,554.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Frieson purchased 2,030 shares of the firm’s stock in a transaction that occurred on Wednesday, June 19th. The shares were acquired at an average cost of $98.69 per share, with a total value of $200,340.70. Following the completion of the transaction, the executive vice president now owns 10,980 shares in the company, valued at approximately $1,083,616.20. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 12,280 shares of company stock valued at $1,174,566. 0.07% of the stock is owned by corporate insiders.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.11). Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The business had revenue of $17.74 billion for the quarter, compared to analysts’ expectations of $17.65 billion. During the same period last year, the company posted $1.19 earnings per share. The firm’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 5.59 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.23%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Tuesday, July 23rd. Lowe’s Companies’s dividend payout ratio is 42.80%.
LOW has been the subject of several research reports. Zacks Investment Research raised shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a research note on Thursday, May 16th. Wedbush lowered their price objective on shares of Lowe’s Companies from $110.00 to $105.00 and set a “neutral” rating for the company in a research note on Thursday, May 23rd. Morgan Stanley set a $123.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, May 23rd. Goldman Sachs Group initiated coverage on shares of Lowe’s Companies in a research note on Thursday, July 11th. They set a “buy” rating and a $119.00 price objective for the company. Finally, Gabelli reissued a “buy” rating on shares of Lowe’s Companies in a research note on Thursday, May 23rd. Ten equities research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus price target of $112.88.
Lowe’s Companies Company Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW).
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.