Donaldson Capital Management LLC cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 63.4% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 8,767 shares of the home improvement retailer’s stock after selling 15,174 shares during the period. Donaldson Capital Management LLC’s holdings in Lowe’s Companies were worth $721,000 at the end of the most recent reporting period.
Other large investors have also recently modified their holdings of the company. Ronald Blue & Co. LLC purchased a new stake in shares of Lowe’s Companies during the first quarter worth $240,000. Folger Nolan Fleming Douglas Capital Management Inc. boosted its stake in shares of Lowe’s Companies by 0.4% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 138,725 shares of the home improvement retailer’s stock worth $11,404,000 after buying an additional 540 shares during the last quarter. Quantum Capital Management boosted its stake in shares of Lowe’s Companies by 23.6% in the first quarter. Quantum Capital Management now owns 17,240 shares of the home improvement retailer’s stock worth $1,417,000 after buying an additional 3,297 shares during the last quarter. Meiji Yasuda Life Insurance Co boosted its stake in shares of Lowe’s Companies by 2.2% in the first quarter. Meiji Yasuda Life Insurance Co now owns 9,497 shares of the home improvement retailer’s stock worth $781,000 after buying an additional 200 shares during the last quarter. Finally, Mcrae Capital Management Inc. boosted its stake in shares of Lowe’s Companies by 0.9% in the first quarter. Mcrae Capital Management Inc. now owns 111,426 shares of the home improvement retailer’s stock worth $9,160,000 after buying an additional 950 shares during the last quarter. 74.65% of the stock is owned by institutional investors and hedge funds.
Lowe’s Companies, Inc. (NYSE LOW) traded down 0.65% during mid-day trading on Friday, hitting $73.64. The stock had a trading volume of 5,153,649 shares. Lowe’s Companies, Inc. has a one year low of $64.87 and a one year high of $86.25. The company has a 50 day moving average price of $76.47 and a 200 day moving average price of $79.47. The stock has a market cap of $62.17 billion, a P/E ratio of 23.09 and a beta of 1.08.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing the consensus estimate 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 company had revenue of $16.86 billion for the quarter, compared to the consensus estimate of $16.99 billion. During the same period in the previous year, the business posted $0.87 EPS. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post $4.62 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a dividend yield of 2.23%. Lowe’s Companies’s payout ratio is 51.57%.
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A number of brokerages have recently weighed in on LOW. BTIG Research reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Lowe’s Companies in a research note on Friday. Longbow Research reaffirmed a “buy” rating and issued a $95.00 price objective on shares of Lowe’s Companies in a research note on Monday, August 14th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research note on Friday, August 11th. BidaskClub upgraded Lowe’s Companies from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $87.00 target price on shares of Lowe’s Companies in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have assigned a buy rating to the stock. Lowe’s Companies has an average rating of “Hold” and an average price target of $85.69.
In other Lowe’s Companies 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 transaction, the insider now owns 37,716 shares of the company’s stock, valued at $3,024,823.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.
About Lowe’s Companies
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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