Financial Architects Inc lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,181 shares of the home improvement retailer’s stock after selling 132 shares during the period. Financial Architects Inc’s holdings in Lowe’s Companies were worth $324,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Lowe’s Companies by 4.3% in the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock worth $5,250,843,000 after buying an additional 2,650,045 shares during the period. BlackRock Inc. raised its position in Lowe’s Companies by 1,757.3% in the first quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock worth $5,045,875,000 after buying an additional 58,073,138 shares during the period. Geode Capital Management LLC raised its position in Lowe’s Companies by 8.2% in the first quarter. Geode Capital Management LLC now owns 8,848,938 shares of the home improvement retailer’s stock worth $726,481,000 after buying an additional 671,581 shares during the period. Barrow Hanley Mewhinney & Strauss LLC raised its position in Lowe’s Companies by 11.5% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,249,599 shares of the home improvement retailer’s stock worth $678,200,000 after buying an additional 852,426 shares during the period. Finally, OppenheimerFunds Inc. raised its position in Lowe’s Companies by 204.0% in the first quarter. OppenheimerFunds Inc. now owns 8,018,171 shares of the home improvement retailer’s stock worth $659,174,000 after buying an additional 5,380,759 shares during the period. Hedge funds and other institutional investors own 74.65% of the company’s stock.
Shares of Lowe’s Companies, Inc. (NYSE:LOW) traded up 0.70% during trading on Monday, hitting $77.80. 1,430,577 shares of the stock traded hands. The firm’s 50-day moving average price is $76.69 and its 200-day moving average price is $79.41. The stock has a market cap of $65.68 billion, a PE ratio of 24.40 and a beta of 1.08. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The firm had revenue of $16.86 billion during the quarter, compared to the consensus estimate of $16.99 billion. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. Lowe’s Companies’s revenue was up 10.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.87 EPS. Analysts anticipate that Lowe’s Companies, Inc. will post $4.62 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Wednesday, July 26th were issued a $0.41 dividend. This represents a $1.64 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend was Monday, July 24th. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.35. Lowe’s Companies’s dividend payout ratio (DPR) is 51.57%.
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LOW has been the subject of a number of recent analyst reports. BMO Capital Markets restated a “buy” rating and set a $89.00 price target on shares of Lowe’s Companies in a research report on Thursday, July 20th. Jefferies Group LLC boosted their price target on shares of Lowe’s Companies from $80.00 to $94.00 and gave the company a “hold” rating in a research report on Friday, May 12th. Stifel Nicolaus reduced their price target on shares of Lowe’s Companies from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. Zacks Investment Research lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Finally, Goldman Sachs Group, Inc. (The) reduced their price target on shares of Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $85.24.
In other news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the completion of the sale, the insider now owns 37,716 shares in the company, valued at approximately $3,024,823.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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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