Cypress Capital Group cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,618 shares of the home improvement retailer’s stock after selling 1,512 shares during the period. Cypress Capital Group’s holdings in Lowe’s Companies were worth $4,797,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Next Capital Management LLC purchased a new stake in Lowe’s Companies in the second quarter worth about $27,000. Pearl River Capital LLC purchased a new stake in Lowe’s Companies in the second quarter worth about $29,000. Knuff & Co LLC purchased a new stake in Lowe’s Companies in the second quarter worth about $29,000. Weaver Consulting Group purchased a new stake in Lowe’s Companies in the first quarter worth about $28,000. Finally, Ossiam purchased a new stake in Lowe’s Companies in the second quarter worth about $31,000. Hedge funds and other institutional investors own 76.23% of the company’s stock.
In other news, EVP Jennifer L. Weber sold 12,589 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $112.62, for a total transaction of $1,417,773.18. Following the transaction, the executive vice president now owns 17,440 shares in the company, valued at $1,964,092.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO Matthew V. Hollifield sold 12,136 shares of the company’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $112.34, for a total transaction of $1,363,358.24. Following the transaction, the chief accounting officer now owns 28,017 shares in the company, valued at approximately $3,147,429.78. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.15. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The firm had revenue of $20.99 billion for the quarter, compared to the consensus estimate of $20.96 billion. During the same quarter in the prior year, the company posted $2.07 earnings per share. The company’s revenue for the quarter was up .5% compared to the same quarter last year. As a group, research analysts expect that Lowe’s Companies, Inc. will post 5.66 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, October 22nd. This represents a $2.20 annualized dividend and a dividend yield of 2.03%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 42.80%.
LOW has been the subject of several analyst reports. Citigroup increased their price target on shares of Lowe’s Companies from $122.00 to $137.00 and gave the company a “buy” rating in a research report on Friday, September 13th. Jefferies Financial Group set a $125.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Monday, August 26th. Morgan Stanley increased their price target on shares of Lowe’s Companies from $123.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday, August 22nd. Goldman Sachs Group initiated coverage on shares of Lowe’s Companies in a research report on Thursday, July 11th. They set a “buy” rating and a $119.00 price target for the company. Finally, Raymond James lowered shares of Lowe’s Companies from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $119.48.
About Lowe’s Companies
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.
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