Prime Capital Investment Advisors LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 93.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,497 shares of the home improvement retailer’s stock after purchasing an additional 723 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Lowe’s Companies were worth $165,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Lowe’s Companies by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 66,234,867 shares of the home improvement retailer’s stock valued at $6,683,762,000 after acquiring an additional 240,910 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Lowe’s Companies by 6,680.1% during the second quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock worth $636,989,000 after purchasing an additional 6,219,346 shares during the period. Morgan Stanley boosted its position in Lowe’s Companies by 1.0% during the second quarter. Morgan Stanley now owns 4,970,572 shares of the home improvement retailer’s stock worth $501,580,000 after purchasing an additional 50,649 shares during the period. Charles Schwab Investment Advisory Inc. boosted its position in Lowe’s Companies by 0.9% during the second quarter. Charles Schwab Investment Advisory Inc. now owns 2,774,755 shares of the home improvement retailer’s stock worth $280,001,000 after purchasing an additional 24,952 shares during the period. Finally, Eaton Vance Management boosted its position in Lowe’s Companies by 49.9% during the second quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock worth $238,844,000 after purchasing an additional 788,392 shares during the period. 76.42% of the stock is owned by hedge funds and other institutional investors.
In other news, EVP Jennifer L. Weber sold 12,589 shares of Lowe’s Companies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $112.62, for a total value of $1,417,773.18. Following the transaction, the executive vice president now directly owns 17,440 shares in the company, valued at approximately $1,964,092.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew V. Hollifield sold 12,136 shares of Lowe’s Companies stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $112.34, for a total value of $1,363,358.24. Following the completion of the transaction, the chief accounting officer now owns 28,017 shares in the company, valued at $3,147,429.78. The disclosure for this sale can be found here. Company insiders own 0.07% of the company’s stock.
NYSE LOW traded down $1.56 during trading hours on Wednesday, hitting $112.76. The company had a trading volume of 2,368,976 shares, compared to its average volume of 4,539,872. Lowe’s Companies, Inc. has a 52 week low of $84.75 and a 52 week high of $118.23. The firm has a 50 day simple moving average of $110.88 and a 200 day simple moving average of $105.71. The company has a debt-to-equity ratio of 7.80, a quick ratio of 0.19 and a current ratio of 1.06. The firm has a market capitalization of $87.99 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 1.50 and a beta of 1.29.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.15. Lowe’s Companies had a return on equity of 111.09% and a net margin of 3.52%. The firm had revenue of $20.99 billion during the quarter, compared to the consensus estimate of $20.96 billion. During the same quarter last year, the company posted $2.07 EPS. The company’s revenue for the quarter was up .5% on a year-over-year basis. On average, research analysts forecast that Lowe’s Companies, Inc. will post 5.67 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a dividend of $0.55 per share. The ex-dividend date is Tuesday, January 21st. This represents a $2.20 annualized dividend and a yield of 1.95%. Lowe’s Companies’s payout ratio is currently 42.80%.
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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