Palladium Partners LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 9.1% during the first quarter, Holdings Channel reports. The firm owned 5,063 shares of the home improvement retailer’s stock after selling 505 shares during the period. Palladium Partners LLC’s holdings in Lowe’s Companies were worth $416,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Pacad Investment Ltd. boosted its stake in Lowe’s Companies by 843.3% in the fourth quarter. Pacad Investment Ltd. now owns 92,473 shares of the home improvement retailer’s stock valued at $6,577,000 after buying an additional 82,670 shares during the period. Smith Shellnut Wilson LLC ADV purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $1,600,000. Lodge Hill Capital LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $48,575,000. Ally Financial Inc. boosted its stake in Lowe’s Companies by 50.0% in the fourth quarter. Ally Financial Inc. now owns 45,000 shares of the home improvement retailer’s stock valued at $3,200,000 after buying an additional 15,000 shares during the period. Finally, Flinton Capital Management LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $494,000. Institutional investors and hedge funds own 75.30% of the company’s stock.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) opened at 77.15 on Monday. Lowe’s Companies, Inc. has a one year low of $64.87 and a one year high of $86.25. The stock has a market capitalization of $65.13 billion, a PE ratio of 24.19 and a beta of 1.08. The stock has a 50 day moving average of $80.38 and a 200-day moving average of $78.55.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The business had revenue of $16.86 billion during the quarter, compared to the consensus estimate of $16.99 billion. During the same quarter in the previous year, the business posted $0.87 earnings per share. The company’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that Lowe’s Companies, Inc. will post $4.62 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 9th. Stockholders of record on Wednesday, July 26th will be given a $0.41 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend is Monday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 44.03%.
Several equities research analysts have recently issued reports on the stock. Oppenheimer Holdings, Inc. set a $100.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, May 24th. Wolfe Research reaffirmed an “outperform” rating and set a $94.00 price objective (down from $95.00) on shares of Lowe’s Companies in a research report on Sunday, May 28th. Vetr cut shares of Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 price objective for the company. in a research report on Monday, May 8th. Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Tuesday, April 18th. Finally, BTIG Research reaffirmed a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Lowe’s Companies in a research report on Friday, May 19th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $85.62.
In other news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the transaction, the insider now directly owns 37,716 shares in the company, valued at approximately $3,024,823.20. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.11% of the company’s stock.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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