Biondo Investment Advisors LLC raised its holdings in Lowe's Companies, Inc. (NYSE:LOW) by 2.3% during the fourth quarter, HoldingsChannel reports. The firm owned 48,971 shares of the home improvement retailer’s stock after acquiring an additional 1,115 shares during the quarter. Lowe's Companies accounts for 1.1% of Biondo Investment Advisors LLC’s holdings, making the stock its 26th largest position. Biondo Investment Advisors LLC’s holdings in Lowe's Companies were worth $4,551,000 at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of LOW. Robeco Institutional Asset Management B.V. lifted its stake in shares of Lowe's Companies by 5.3% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 72,641 shares of the home improvement retailer’s stock valued at $5,633,000 after acquiring an additional 3,652 shares during the last quarter. Willingdon Wealth Management lifted its stake in shares of Lowe's Companies by 10.6% in the 2nd quarter. Willingdon Wealth Management now owns 18,553 shares of the home improvement retailer’s stock valued at $1,438,000 after acquiring an additional 1,777 shares during the last quarter. Airain ltd lifted its stake in shares of Lowe's Companies by 5,218.7% in the 2nd quarter. Airain ltd now owns 321,939 shares of the home improvement retailer’s stock valued at $24,960,000 after acquiring an additional 315,886 shares during the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its stake in shares of Lowe's Companies by 16.3% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 204,402 shares of the home improvement retailer’s stock valued at $15,847,000 after acquiring an additional 28,582 shares during the last quarter. Finally, BDO Wealth Advisors LLC bought a new position in shares of Lowe's Companies in the 2nd quarter valued at $765,000. 72.41% of the stock is currently owned by hedge funds and other institutional investors.
In other 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 value of $268,830.40. Following the completion of the transaction, the insider now directly owns 4,650 shares of the company’s stock, valued at approximately $372,930. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.
Lowe's Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.03. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The firm had revenue of $16.77 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period last year, the company posted $0.88 EPS. The business’s quarterly revenue was up 6.6% on a year-over-year basis. research analysts predict that Lowe's Companies, Inc. will post 4.53 earnings per share for the current year.
Lowe's Companies declared that its board has authorized a stock buyback program on Friday, January 26th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the home improvement retailer to purchase shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.
A number of brokerages have recently commented on LOW. Atlantic Securities cut Lowe's Companies from an “overweight” rating to a “neutral” rating and set a $92.00 price target for the company. in a research note on Tuesday, November 28th. Credit Suisse Group set a $116.00 price target on Lowe's Companies and gave the company a “buy” rating in a research note on Tuesday, January 16th. Piper Jaffray Companies reiterated a “hold” rating and issued a $82.00 price target on shares of Lowe's Companies in a research note on Friday, November 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $103.00 price target on shares of Lowe's Companies in a research note on Friday, December 22nd. Finally, Zelman & Associates cut Lowe's Companies from a “buy” rating to a “hold” rating in a research note on Friday, January 5th. 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. The company presently has a consensus rating of “Buy” and an average price target of $96.35.
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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