Progressive Investment Management Corp grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 27,018 shares of the home improvement retailer’s stock after buying an additional 82 shares during the period. Progressive Investment Management Corp’s holdings in Lowe’s Companies were worth $2,095,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. SRS Capital Advisors Inc. raised its position 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 worth $101,000 after purchasing an additional 5 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Lowe’s Companies in the first quarter worth about $103,000. Hanson McClain Inc. raised its position in Lowe’s Companies by 3.5% in 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 in the last quarter. State of Alaska Department of Revenue raised its position in Lowe’s Companies by 8.3% in 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 in the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lowe’s Companies in the first quarter worth about $119,000. 74.22% of the stock is owned by institutional investors and hedge funds.
In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the transaction, the senior vice president now owns 30,750 shares in the company, valued at $2,407,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total transaction of $163,685.96. Following the transaction, the insider now owns 8,400 shares of the company’s stock, valued at approximately $655,368. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by corporate insiders.
Several brokerages have weighed in on LOW. Bank of America Corporation began coverage on shares of Lowe’s Companies in a research note on Tuesday, September 5th. They set a “buy” rating and a $95.00 price objective on the stock. Zacks Investment Research cut shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a research note on Monday, August 28th. Stifel Nicolaus reaffirmed a “buy” rating and set a $87.00 price objective on shares of Lowe’s Companies in a research note on Friday, July 21st. 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 note on Wednesday, August 23rd. Finally, Deutsche Bank AG decreased their price objective on shares of Lowe’s Companies from $92.00 to $85.00 and set a “buy” rating on the stock in a research note on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have given a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $85.32.
Lowe’s Companies, Inc. (NYSE LOW) opened at 81.21 on Thursday. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25. The stock has a 50 day moving average of $77.91 and a 200-day moving average of $79.39. The company has a market cap of $67.63 billion, a P/E ratio of 23.06 and a beta of 1.07.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.05). The firm had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.37 EPS. Equities research analysts expect that Lowe’s Companies, Inc. will post $4.50 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, October 24th. This represents a $1.64 annualized dividend and a yield of 2.02%. Lowe’s Companies’s payout ratio is currently 46.20%.
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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