WealthPLAN Partners LLC Acquires 10,127 Shares of Lowe’s Companies, Inc. (LOW)

WealthPLAN Partners LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 20.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 60,217 shares of the home improvement retailer’s stock after purchasing an additional 10,127 shares during the period. Lowe’s Companies makes up about 1.2% of WealthPLAN Partners LLC’s portfolio, making the stock its 13th largest holding. WealthPLAN Partners LLC’s holdings in Lowe’s Companies were worth $5,284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of LOW. Mackenzie Financial Corp bought a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $178,251,000. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Lowe’s Companies by 267.8% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,279,741 shares of the home improvement retailer’s stock worth $211,879,000 after acquiring an additional 1,659,841 shares during the period. Hound Partners LLC bought a new stake in shares of Lowe’s Companies during the 1st quarter worth approximately $110,952,000. Magellan Asset Management Ltd increased its position in Lowe’s Companies by 4.5% during the 4th quarter. Magellan Asset Management Ltd now owns 24,499,155 shares of the home improvement retailer’s stock worth $2,276,951,000 after purchasing an additional 1,059,347 shares in the last quarter. Finally, Amundi Pioneer Asset Management Inc. increased its position in Lowe’s Companies by 38.9% during the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 3,486,909 shares of the home improvement retailer’s stock worth $324,074,000 after purchasing an additional 977,309 shares in the last quarter. 72.93% of the stock is owned by hedge funds and other institutional investors.

A number of research firms recently issued reports on LOW. Credit Suisse Group set a $111.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Monday, May 14th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $100.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, March 6th. Morgan Stanley set a $115.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Thursday, May 24th. Royal Bank of Canada upped their price objective on shares of Lowe’s Companies to $104.00 and gave the stock an “outperform” rating in a research report on Thursday, May 24th. Finally, Wedbush set a $92.00 price objective on shares of Lowe’s Companies and gave the stock a “hold” rating in a research report on Thursday, May 24th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have issued a buy rating to the company. Lowe’s Companies presently has an average rating of “Buy” and an average price target of $100.79.

In other news, SVP Matthew V. Hollifield sold 12,362 shares of the stock in a transaction on Friday, June 8th. The shares were sold at an average price of $99.56, for a total transaction of $1,230,760.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.30% of the company’s stock.

Shares of LOW traded up $0.11 during trading hours on Thursday, hitting $99.57. 23,942 shares of the stock were exchanged, compared to its average volume of 6,760,002. Lowe’s Companies, Inc. has a fifty-two week low of $70.76 and a fifty-two week high of $108.98. The company has a quick ratio of 0.18, a current ratio of 1.02 and a debt-to-equity ratio of 2.60. The stock has a market cap of $82.02 billion, a PE ratio of 22.67, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, May 23rd. The home improvement retailer reported $1.19 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.22 by ($0.03). Lowe’s Companies had a return on equity of 66.36% and a net margin of 5.55%. The firm had revenue of $17.36 billion for the quarter, compared to analyst estimates of $17.44 billion. During the same quarter last year, the company earned $1.03 earnings per share. The company’s quarterly revenue was up 3.0% compared to the same quarter last year. sell-side analysts anticipate that Lowe’s Companies, Inc. will post 5.44 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 8th. Stockholders of record on Wednesday, July 25th will be given a dividend of $0.48 per share. The ex-dividend date is Tuesday, July 24th. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.41. This represents a $1.92 annualized dividend and a dividend yield of 1.93%. Lowe’s Companies’s dividend payout ratio is 37.36%.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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

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