Sigma Planning Corp Acquires 1,594 Shares of Lowe’s Companies, Inc. (LOW)
Sigma Planning Corp increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 19.2% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 9,884 shares of the home improvement retailer’s stock after acquiring an additional 1,594 shares during the period. Sigma Planning Corp’s holdings in Lowe’s Companies were worth $766,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the company. SRS Capital Advisors Inc. increased its stake in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after acquiring an additional 5 shares during the period. Harbour Capital Advisors LLC acquired a new position in Lowe’s Companies in the first quarter worth about $103,000. Hanson McClain Inc. lifted its stake in Lowe’s Companies by 3.5% during the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock worth $110,000 after purchasing an additional 45 shares during the period. State of Alaska Department of Revenue lifted its stake in Lowe’s Companies by 8.3% during the second quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock worth $111,000 after purchasing an additional 110 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. bought a new position in Lowe’s Companies during the first quarter worth about $119,000. Institutional investors and hedge funds own 74.22% of the company’s stock.
LOW has been the topic of a number of recent research reports. Gordon Haskett initiated coverage on Lowe’s Companies in a report on Tuesday. They set an “accumulate” rating and a $88.00 price objective on the stock. Piper Jaffray Companies reiterated a “hold” rating and issued a $80.00 price objective on shares of Lowe’s Companies in a research note on Friday, September 29th. Jefferies Group LLC reissued a “hold” rating and issued a $75.00 target price on shares of Lowe’s Companies in a report on Thursday, September 28th. Royal Bank Of Canada reissued a “buy” rating and issued a $81.00 target price on shares of Lowe’s Companies in a report on Monday, September 25th. Finally, Zacks Investment Research raised Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have issued a buy rating to the stock. Lowe’s Companies currently has a consensus rating of “Hold” and an average target price of $85.12.
Shares of Lowe’s Companies, Inc. (NYSE LOW) opened at 81.35 on Wednesday. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25. The stock’s 50 day moving average is $76.70 and its 200 day moving average is $79.40. The firm has a market cap of $67.75 billion, a PE ratio of 23.10 and a beta of 1.07. Lowe’s Companies also was the target of unusually large options trading activity on Monday. Traders bought 6,466 put options on the stock. This represents an increase of 538% compared to the typical daily volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The business had revenue of $19.50 billion for the quarter, compared to the consensus estimate of $19.58 billion. During the same period in the previous year, the firm earned $1.37 earnings per share. The company’s revenue was up 6.8% compared to the same quarter last year. Analysts forecast that Lowe’s Companies, Inc. will post $4.50 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be paid a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Tuesday, October 24th. Lowe’s Companies’s payout ratio is currently 46.20%.
In related news, insider Paul D. Ramsay sold 2,098 shares of the business’s stock in a transaction on Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the sale, the insider now owns 8,400 shares of the company’s stock, valued at $655,368. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Matthew V. Hollifield sold 7,853 shares of the business’s stock in a transaction on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the sale, the senior vice president now directly owns 30,750 shares in the company, valued at approximately $2,407,725. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by company insiders.
Lowe’s Companies Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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