Daiwa Securities Group Inc. lowered its holdings in Lowe's Companies, Inc. (NYSE:LOW) by 38.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 26,379 shares of the home improvement retailer’s stock after selling 16,674 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Lowe's Companies were worth $2,452,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of LOW. Atlantic Trust LLC bought a new stake in shares of Lowe's Companies in the 2nd quarter valued at about $105,000. Stonehearth Capital Management LLC bought a new stake in shares of Lowe's Companies in the 4th quarter valued at about $112,000. Cerebellum GP LLC bought a new stake in shares of Lowe's Companies in the 4th quarter valued at about $129,000. Motco grew its position in shares of Lowe's Companies by 33.4% in the 2nd quarter. Motco now owns 1,725 shares of the home improvement retailer’s stock worth $134,000 after buying an additional 432 shares during the last quarter. Finally, Horan Capital Advisors LLC. purchased a new position in shares of Lowe's Companies in the 3rd quarter worth approximately $134,000. Institutional investors and hedge funds own 72.41% of the company’s stock.
A number of research analysts have recently issued reports on LOW shares. Royal Bank of Canada reaffirmed a “buy” rating and issued a $84.00 price objective on shares of Lowe's Companies in a research report on Tuesday, November 7th. Zacks Investment Research raised shares of Lowe's Companies from a “hold” rating to a “buy” rating and set a $90.00 price objective on the stock in a research report on Wednesday, November 1st. Robert W. Baird set a $87.00 price objective on shares of Lowe's Companies and gave the stock a “buy” rating in a research report on Tuesday, October 31st. UBS Group lifted their price objective on shares of Lowe's Companies from $89.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, November 22nd. Finally, Stifel Nicolaus lifted their price objective on shares of Lowe's Companies from $87.00 to $93.00 and gave the stock a “buy” rating in a research report on Tuesday, November 21st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and twenty-three have assigned a buy rating to the company. Lowe's Companies presently has an average rating of “Buy” and a consensus price target of $96.35.
Lowe's Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, beating the consensus estimate of $1.02 by $0.03. The business had revenue of $16.77 billion for the quarter, compared to the consensus estimate of $16.59 billion. Lowe's Companies had a net margin of 5.16% and a return on equity of 66.27%. The business’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. sell-side analysts predict that Lowe's Companies, Inc. will post 4.53 earnings per share for the current fiscal year.
Lowe's Companies announced that its board has approved a stock repurchase plan on Friday, January 26th that allows the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, insider Nelson B. Peace sold 3,352 shares of the company’s stock in a transaction on Monday, November 27th. The shares were sold at an average price of $80.20, for a total value of $268,830.40. Following the sale, the insider now directly 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 hyperlink. 0.11% of the stock is owned by corporate insiders.
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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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