Fayez Sarofim & Co continued to hold its stake in Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, Holdings Channel reports. The firm owned 5,806 shares of the home improvement retailer’s stock at the end of the first quarter. Fayez Sarofim & Co’s holdings in Lowe’s Companies were worth $477,000 at the end of the most recent quarter.
Several other hedge funds have also recently bought and sold shares of LOW. SRS Capital Advisors Inc. raised its stake in Lowe’s Companies by 0.4% in the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after buying an additional 5 shares in the last quarter. Winfield Associates Inc. raised its stake in Lowe’s Companies by 0.6% in the first quarter. Winfield Associates Inc. now owns 2,392 shares of the home improvement retailer’s stock valued at $196,000 after buying an additional 15 shares in the last quarter. Modera Wealth Management LLC raised its stake in Lowe’s Companies by 0.3% in the first quarter. Modera Wealth Management LLC now owns 4,927 shares of the home improvement retailer’s stock valued at $405,000 after buying an additional 15 shares in the last quarter. First Personal Financial Services raised its stake in Lowe’s Companies by 0.3% in the first quarter. First Personal Financial Services now owns 8,067 shares of the home improvement retailer’s stock valued at $663,000 after buying an additional 21 shares in the last quarter. Finally, Hanson McClain Inc. raised its stake in Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after buying an additional 45 shares in the last quarter. Institutional investors and hedge funds own 74.70% of the company’s stock.
Shares of Lowe’s Companies, Inc. (LOW) traded up 0.40% during trading on Wednesday, reaching $77.52. 820,923 shares of the company traded hands. Lowe’s Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25. The company has a market capitalization of $65.44 billion, a P/E ratio of 24.31 and a beta of 1.08. The company’s 50-day moving average price is $77.00 and its 200-day moving average price is $79.20. Lowe’s Companies also saw unusually large options trading activity on Monday. Stock traders bought 6,466 put options on the company. This represents an increase of approximately 538% compared to the average volume of 1,014 put options.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by $0.03. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The firm had revenue of $16.86 billion for the quarter, compared to the consensus estimate of $16.99 billion. During the same quarter in the previous year, the business posted $0.87 EPS. Lowe’s Companies’s revenue was up 10.7% on a year-over-year basis. Equities research analysts forecast that Lowe’s Companies, Inc. will post $4.62 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 9th. Shareholders of record on Wednesday, July 26th will be paid a dividend of $0.41 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, July 24th. This represents a $1.64 dividend on an annualized basis and a yield of 2.12%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 51.57%.
Several brokerages recently commented on LOW. Goldman Sachs Group, Inc. (The) dropped their price objective on shares of Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Zacks Investment Research downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday. Vetr downgraded shares of Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 price objective for the company. in a research note on Monday, May 8th. Oppenheimer Holdings, Inc. set a $100.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, May 24th. Finally, Stifel Nicolaus dropped their price objective on shares of Lowe’s Companies from $89.00 to $87.00 and set a “buy” rating for the company in a research note on Thursday, May 25th. Three investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and fifteen have assigned a buy rating to the stock. Lowe’s Companies presently has an average rating of “Hold” and an average price target of $85.39.
In other news, insider Richard D. Maltsbarger sold 11,672 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the sale, the insider now owns 37,716 shares in the company, valued at $3,024,823.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.11% of the stock is currently owned by company insiders.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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