Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Lynch & Associates IN
Lynch & Associates IN decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 34,510 shares of the home improvement retailer’s stock after selling 650 shares during the quarter. Lynch & Associates IN’s holdings in Lowe’s Companies were worth $3,482,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of LOW. Clarfeld Financial Advisors LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth $26,000. Advisors Preferred LLC acquired a new stake in shares of Lowe’s Companies in the first quarter valued at $26,000. Icon Wealth Partners LLC acquired a new stake in shares of Lowe’s Companies in the first quarter valued at $26,000. Weaver Consulting Group acquired a new stake in shares of Lowe’s Companies in the first quarter valued at $28,000. Finally, Prime Capital Investment Advisors LLC acquired a new stake in shares of Lowe’s Companies in the first quarter valued at $33,000. 76.75% of the stock is owned by institutional investors.
LOW has been the subject of a number of research reports. Citigroup dropped their price objective on GrafTech International from $21.00 to $17.00 and set a “buy” rating for the company in a research note on Monday, April 1st. Morgan Stanley set a $123.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, May 23rd. ValuEngine raised United States Steel from a “strong sell” rating to a “sell” rating in a research note on Wednesday. UBS Group cut AGL Energy to a “sell” rating in a research note on Thursday, May 23rd. Finally, Robert W. Baird reaffirmed an “outperform” rating and issued a $127.00 price objective (down from $133.00) on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $112.88.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.11). Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The company had revenue of $17.74 billion for the quarter, compared to analyst estimates of $17.65 billion. During the same period in the previous year, the firm earned $1.19 earnings per share. The company’s revenue for the quarter was up 2.2% compared to the same quarter last year. Research analysts forecast that Lowe’s Companies, Inc. will post 5.59 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.12%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Tuesday, July 23rd. Lowe’s Companies’s payout ratio is 42.80%.
In other Lowe’s Companies news, insider Marvin R. Ellison purchased 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was bought at an average cost of $95.05 per share, with a total value of $950,500.00. Following the acquisition, the insider now directly owns 80,090 shares of the company’s stock, valued at $7,612,554.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Frieson purchased 2,030 shares of the firm’s stock in a transaction on Wednesday, June 19th. The shares were acquired at an average cost of $98.69 per share, with a total value of $200,340.70. Following the completion of the acquisition, the executive vice president now directly owns 10,980 shares in the company, valued at $1,083,616.20. The disclosure for this purchase can be found here. Insiders have acquired a total of 12,280 shares of company stock valued at $1,174,566 over the last ninety days. 0.07% of the stock is owned by company insiders.
Lowe’s Companies Company Profile
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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