NewFocus Financial Group LLC trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,392 shares of the home improvement retailer’s stock after selling 803 shares during the period. Lowe’s Companies comprises approximately 3.4% of NewFocus Financial Group LLC’s portfolio, making the stock its 10th biggest holding. NewFocus Financial Group LLC’s holdings in Lowe’s Companies were worth $5,763,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the stock. Capital International Investors acquired a new position in Lowe’s Companies during the third quarter worth $746,818,000. FMR LLC increased its position in Lowe’s Companies by 8.0% during the third quarter. FMR LLC now owns 21,879,740 shares of the home improvement retailer’s stock worth $2,512,233,000 after buying an additional 1,616,536 shares during the last quarter. Winslow Capital Management LLC increased its position in Lowe’s Companies by 28.4% during the third quarter. Winslow Capital Management LLC now owns 4,081,562 shares of the home improvement retailer’s stock worth $468,645,000 after buying an additional 901,607 shares during the last quarter. AQR Capital Management LLC increased its position in Lowe’s Companies by 50.0% during the third quarter. AQR Capital Management LLC now owns 2,641,814 shares of the home improvement retailer’s stock worth $303,333,000 after buying an additional 880,253 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Lowe’s Companies during the third quarter worth $90,375,000. Institutional investors and hedge funds own 74.34% of the company’s stock.
LOW has been the topic of several analyst reports. Citigroup raised shares of Lowe’s Companies from a “neutral” rating to a “buy” rating and set a $112.00 target price on the stock in a research report on Tuesday, October 23rd. Jefferies Financial Group set a $119.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Tuesday, November 20th. Loop Capital set a $130.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, October 24th. Deutsche Bank set a $101.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, November 21st. Finally, SunTrust Banks increased their target price on shares of Lowe’s Companies to $128.00 and gave the stock a “buy” rating in a research report on Thursday, December 13th. Ten analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Lowe’s Companies currently has a consensus rating of “Buy” and a consensus target price of $111.36.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.06. Lowe’s Companies had a return on equity of 72.47% and a net margin of 5.19%. The business had revenue of $17.42 billion for the quarter, compared to the consensus estimate of $17.36 billion. During the same period last year, the business earned $1.05 earnings per share. The firm’s revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 5.11 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 6th. Investors of record on Wednesday, January 23rd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.01%. The ex-dividend date of this dividend is Tuesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.74%.
In other news, Director Brian C. Rogers bought 10,000 shares of the firm’s stock in a transaction that occurred on Friday, November 23rd. The shares were acquired at an average cost of $88.02 per share, with a total value of $880,200.00. Following the completion of the transaction, the director now directly owns 10,000 shares in the company, valued at $880,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.30% of the stock is owned by company insiders.
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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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