Wilsey Asset Management Inc. acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 5,406 shares of the home improvement retailer’s stock, valued at approximately $1,028,000. Lowe’s Companies makes up 0.3% of Wilsey Asset Management Inc.’s investment portfolio, making the stock its 19th biggest position.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in Lowe’s Companies by 10.7% during the fourth quarter. FMR LLC now owns 30,352,415 shares of the home improvement retailer’s stock valued at $4,871,866,000 after purchasing an additional 2,940,777 shares in the last quarter. Norges Bank acquired a new stake in Lowe’s Companies during the fourth quarter valued at approximately $1,285,445,000. Lazard Asset Management LLC boosted its holdings in Lowe’s Companies by 17.8% during the fourth quarter. Lazard Asset Management LLC now owns 6,502,725 shares of the home improvement retailer’s stock valued at $1,043,751,000 after purchasing an additional 982,465 shares in the last quarter. Morgan Stanley boosted its holdings in Lowe’s Companies by 15.6% during the fourth quarter. Morgan Stanley now owns 5,819,866 shares of the home improvement retailer’s stock valued at $934,149,000 after purchasing an additional 783,731 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its holdings in Lowe’s Companies by 1.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,860,084 shares of the home improvement retailer’s stock valued at $459,076,000 after purchasing an additional 37,586 shares in the last quarter. 76.11% of the stock is currently owned by institutional investors.
In related news, Director David H. Batchelder purchased 6,250 shares of the stock in a transaction on Friday, February 26th. The shares were purchased at an average cost of $159.48 per share, with a total value of $996,750.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is owned by corporate insiders.
Shares of LOW stock traded down $1.60 on Tuesday, reaching $197.60. The stock had a trading volume of 67,276 shares, compared to its average volume of 4,030,384. The company has a quick ratio of 0.57, a current ratio of 1.38 and a debt-to-equity ratio of 5.20. The firm’s 50-day moving average is $192.90 and its two-hundred day moving average is $171.72. The firm has a market capitalization of $141.71 billion, a price-to-earnings ratio of 28.01, a P/E/G ratio of 1.18 and a beta of 1.37. Lowe’s Companies, Inc. has a 12 month low of $102.83 and a 12 month high of $208.98.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, February 23rd. The home improvement retailer reported $1.33 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.12. The firm had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.54 billion. Lowe’s Companies had a net margin of 6.29% and a return on equity of 211.33%. During the same period in the prior year, the firm earned $0.94 EPS. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 8.7 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 5th. Shareholders of record on Wednesday, April 21st will be issued a $0.60 dividend. The ex-dividend date is Tuesday, April 20th. This represents a $2.40 annualized dividend and a yield of 1.21%. Lowe’s Companies’s dividend payout ratio is currently 41.96%.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, dÃ©cor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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