South State Corp raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,040 shares of the home improvement retailer’s stock after buying an additional 200 shares during the period. South State Corp’s holdings in Lowe’s Companies were worth $1,319,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Washington Trust Bank raised its stake in Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock valued at $102,000 after buying an additional 266 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in Lowe’s Companies during the first quarter valued at $109,000. First Bank & Trust raised its stake in Lowe’s Companies by 11.5% in the first quarter. First Bank & Trust now owns 1,421 shares of the home improvement retailer’s stock valued at $117,000 after buying an additional 147 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Lowe’s Companies during the first quarter valued at $119,000. Finally, CWM LLC raised its stake in Lowe’s Companies by 26.3% in the first quarter. CWM LLC now owns 1,700 shares of the home improvement retailer’s stock valued at $140,000 after buying an additional 354 shares during the last quarter. 74.70% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) traded down 1.42% during mid-day trading on Tuesday, hitting $77.21. 4,401,736 shares of the company were exchanged. The firm has a 50 day moving average of $77.00 and a 200 day moving average of $79.20. The company has a market capitalization of $65.18 billion, a price-to-earnings ratio of 24.21 and a beta of 1.08. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25. Lowe’s Companies also saw unusually large options trading on Monday. Traders bought 6,466 put options on the company. This is an increase of 538% compared to the average volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. The company had revenue of $16.86 billion during the quarter, compared to analyst estimates of $16.99 billion. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. Lowe’s Companies’s revenue was up 10.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.87 earnings per share. Equities research analysts forecast that Lowe’s Companies, Inc. will post $4.62 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 9th. Shareholders of record on Wednesday, July 26th will be paid a $0.41 dividend. The ex-dividend date of this dividend is Monday, July 24th. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.35. This represents a $1.64 annualized dividend and a yield of 2.12%. Lowe’s Companies’s payout ratio is 51.57%.
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LOW has been the topic of several analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $89.00 target price on shares of Lowe’s Companies in a report on Thursday, July 20th. Jefferies Group LLC upped their target price on shares of Lowe’s Companies from $80.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 12th. Stifel Nicolaus lowered their target price on shares of Lowe’s Companies from $89.00 to $87.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Zacks Investment Research lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Goldman Sachs Group, Inc. (The) decreased their price objective on shares of Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fifteen have given a buy rating to the stock. Lowe’s Companies presently has an average rating of “Hold” and a consensus price target of $85.39.
In other Lowe’s Companies news, insider Richard D. Maltsbarger sold 11,672 shares of the business’s stock in a transaction that occurred on Tuesday, May 30th. The stock was 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 of the company’s stock, valued at $3,024,823.20. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is currently owned by insiders.
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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