Maverick Capital Ltd. bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 26,290 shares of the home improvement retailer’s stock, valued at approximately $2,038,000.
Several other institutional investors and hedge funds have also recently modified their holdings of LOW. Vantage Financial Partners Ltd. Inc. acquired a new position in Lowe’s Companies during the 2nd quarter valued at about $233,000. SRS Capital Advisors Inc. boosted its stake in Lowe’s Companies by 0.4% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after purchasing an additional 5 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in Lowe’s Companies during the 1st quarter valued at about $103,000. State of Alaska Department of Revenue boosted its stake in Lowe’s Companies by 8.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after purchasing an additional 110 shares during the last quarter. Finally, Balentine LLC acquired a new position in Lowe’s Companies during the 1st quarter valued at about $120,000. Institutional investors own 73.29% of the company’s stock.
A number of brokerages have recently weighed in on LOW. Moffett Nathanson began coverage on Lowe’s Companies in a research note on Monday. They issued a “buy” rating on the stock. Deutsche Bank restated a “buy” rating and issued a $90.00 target price (up previously from $85.00) on shares of Lowe’s Companies in a research note on Friday, October 6th. Stifel Nicolaus boosted their target price on Lowe’s Companies from $87.00 to $93.00 and gave the stock a “buy” rating in a research note on Tuesday, November 21st. Gordon Haskett assumed coverage on Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 target price on the stock. Finally, UBS lifted their price target on shares of Lowe’s Companies from $89.00 to $93.00 and gave the stock a “buy” rating in a report on Wednesday, November 22nd. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $87.40.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.02 by $0.03. Lowe’s Companies had a net margin of 5.16% and a return on equity of 66.27%. The company had revenue of $16.77 billion during the quarter, compared to analyst estimates of $16.59 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s quarterly revenue was up 6.6% compared to the same quarter last year. equities research analysts forecast that Lowe’s Companies, Inc. will post 4.51 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be given a $0.41 dividend. The ex-dividend date is Tuesday, January 23rd. This represents a $1.64 annualized dividend and a yield of 1.99%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.33%.
In other Lowe’s Companies news, insider Paul D. Ramsay sold 2,098 shares of the company’s stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total transaction of $163,685.96. Following the completion of the sale, the insider now directly owns 8,400 shares in the company, valued at $655,368. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Matthew V. Hollifield sold 7,853 shares of the company’s stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $78.30, for a total transaction of $614,889.90. Following the transaction, the senior vice president now directly owns 30,750 shares of the company’s stock, valued at $2,407,725. The disclosure for this sale can be found here. Insiders sold 13,303 shares of company stock valued at $1,047,406 over the last quarter. 0.11% of the stock is owned by company insiders.
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About Lowe’s Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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