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 (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.
COPYRIGHT VIOLATION WARNING: This report was originally reported by Markets Daily and is the sole property of of Markets Daily. If you are viewing this report on another publication, it was illegally copied and reposted in violation of United States & international trademark & copyright laws. The legal version of this report can be viewed at https://www.themarketsdaily.com/2018/01/14/belpointe-asset-management-llc-buys-new-position-in-lowes-companies-inc-low.html.
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.
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe's Companies, Inc. (NYSE:LOW).
Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.