Sigma Investment Counselors Inc. grew its stake in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 2.1% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 41,392 shares of the home improvement retailer’s stock after buying an additional 869 shares during the quarter. Sigma Investment Counselors Inc.’s holdings in Lowe’s Companies were worth $7,230,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in LOW. Joseph P. Lucia & Associates LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at $27,000. Macroview Investment Management LLC lifted its stake in Lowe’s Companies by 49.1% in the first quarter. Macroview Investment Management LLC now owns 158 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 52 shares during the last quarter. Delos Wealth Advisors LLC boosted its holdings in shares of Lowe’s Companies by 388.2% in the fourth quarter. Delos Wealth Advisors LLC now owns 166 shares of the home improvement retailer’s stock valued at $43,000 after acquiring an additional 132 shares during the period. O Dell Group LLC purchased a new position in Lowe’s Companies during the 1st quarter worth $34,000. Finally, Compagnie Lombard Odier SCmA lifted its position in Lowe’s Companies by 100.0% during the 1st quarter. Compagnie Lombard Odier SCmA now owns 180 shares of the home improvement retailer’s stock worth $36,000 after acquiring an additional 90 shares during the period. Institutional investors and hedge funds own 74.04% of the company’s stock.
Analyst Ratings Changes
LOW has been the subject of a number of analyst reports. Robert W. Baird increased their target price on Lowe’s Companies from $225.00 to $235.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 17th. Jefferies Financial Group lifted their price target on shares of Lowe’s Companies from $238.00 to $255.00 and gave the company a “buy” rating in a research report on Thursday, August 18th. Morgan Stanley decreased their target price on Lowe’s Companies from $280.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, July 20th. The Goldman Sachs Group lifted their price target on Lowe’s Companies from $224.00 to $252.00 and gave the stock a “buy” rating in a research note on Thursday, August 18th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Lowe’s Companies from $230.00 to $210.00 and set a “neutral” rating on the stock in a research report on Tuesday, August 9th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $244.05.
Lowe’s Companies Price Performance
Lowe’s Companies (NYSE:LOW – Get Rating) last posted its earnings results on Wednesday, August 17th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.63 by $0.04. The firm had revenue of $27.48 billion for the quarter, compared to analysts’ expectations of $28.16 billion. Lowe’s Companies had a negative return on equity of 155.26% and a net margin of 8.83%. The firm’s revenue was down .3% compared to the same quarter last year. During the same period last year, the firm earned $4.25 EPS. Sell-side analysts expect that Lowe’s Companies, Inc. will post 13.51 EPS for the current year.
Lowe’s Companies Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be given a $1.05 dividend. The ex-dividend date is Tuesday, October 18th. This represents a $4.20 dividend on an annualized basis and a yield of 2.25%. Lowe’s Companies’s dividend payout ratio (DPR) is 33.10%.
Insider Transactions at Lowe’s Companies
In other Lowe’s Companies news, EVP Seemantini Godbole sold 11,761 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $214.37, for a total value of $2,521,205.57. Following the completion of the sale, the executive vice president now directly owns 26,575 shares of the company’s stock, valued at approximately $5,696,882.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.24% of the company’s stock.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, lighting, and electrical.
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