Belpointe Asset Management LLC Buys New Position in Lowe's Companies, Inc. (LOW)

Belpointe Asset Management LLC bought a new position in shares of Lowe's Companies, Inc. (NYSE:LOW) during the third quarter, Holdings Channel reports. The firm bought 7,060 shares of the home improvement retailer’s stock, valued at approximately $564,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Summit Global Investments bought a new stake in shares of Lowe's Companies during the 2nd quarter worth $1,421,000. Ffcm LLC raised its stake in shares of Lowe's Companies by 6.4% during the 2nd quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock worth $2,395,000 after purchasing an additional 1,853 shares during the period. Burney Co. raised its stake in shares of Lowe's Companies by 3.9% during the 2nd quarter. Burney Co. now owns 145,724 shares of the home improvement retailer’s stock worth $11,162,000 after purchasing an additional 5,453 shares during the period. PGGM Investments increased its holdings in Lowe's Companies by 45.8% in the 3rd quarter. PGGM Investments now owns 986,226 shares of the home improvement retailer’s stock worth $78,839,000 after acquiring an additional 309,870 shares during the last quarter. Finally, FIL Ltd increased its holdings in Lowe's Companies by 8.6% in the 2nd quarter. FIL Ltd now owns 1,972,527 shares of the home improvement retailer’s stock worth $152,931,000 after acquiring an additional 155,662 shares during the last quarter. Institutional investors own 73.12% of the company’s stock.

In other Lowe's Companies news, insider Nelson B. Peace sold 3,352 shares of Lowe's Companies stock in a transaction dated Monday, November 27th. The stock was sold at an average price of $80.20, for a total transaction of $268,830.40. Following the completion of the transaction, the insider now owns 4,650 shares of the company’s stock, valued at approximately $372,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is owned by insiders.

Lowe's Companies, Inc. (LOW) opened at $100.86 on Friday. The company has a current ratio of 1.02, a quick ratio of 0.12 and a debt-to-equity ratio of 2.71. The firm has a market capitalization of $83,690.00, a PE ratio of 24.25, a price-to-earnings-growth ratio of 1.44 and a beta of 1.14. Lowe's Companies, Inc. has a twelve month low of $70.76 and a twelve month high of $102.28.

Lowe's Companies (NYSE:LOW) last posted its earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.03. The business had revenue of $16.77 billion during the quarter, compared to analyst estimates of $16.59 billion. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 EPS. equities research analysts expect that Lowe's Companies, Inc. will post 4.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be issued a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe's Companies’s payout ratio is presently 39.42%.

Several equities research analysts recently weighed in on LOW shares. Zacks Investment Research raised Lowe's Companies from a “sell” rating to a “hold” rating in a report on Thursday, September 21st. Royal Bank of Canada reissued a “buy” rating and issued a $81.00 price objective on shares of Lowe's Companies in a report on Monday, September 25th. Jefferies Group reissued a “hold” rating and issued a $75.00 price objective on shares of Lowe's Companies in a report on Thursday, September 28th. Piper Jaffray Companies reissued a “hold” rating and issued a $80.00 price objective on shares of Lowe's Companies in a report on Friday, September 29th. Finally, Gordon Haskett started coverage on Lowe's Companies in a report on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price objective for the company. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating and eighteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $88.62.

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Lowe's Companies Company 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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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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