Stock Yards Bank & Trust Co. lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 20.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,474 shares of the home improvement retailer’s stock after selling 2,693 shares during the quarter. Stock Yards Bank & Trust Co.’s holdings in Lowe’s Companies were worth $837,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of LOW. SRS Capital Advisors Inc. raised its stake in Lowe’s Companies by 0.4% during the first quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after acquiring an additional 5 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Lowe’s Companies in the first quarter valued at approximately $103,000. Atlantic Trust LLC acquired a new position in shares of Lowe’s Companies in the second quarter valued at approximately $105,000. State of Alaska Department of Revenue increased its stake in shares of Lowe’s Companies by 8.3% in the second quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after buying an additional 110 shares during the period. Finally, Balentine LLC acquired a new position in shares of Lowe’s Companies in the first quarter valued at approximately $120,000. 73.29% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently issued reports on LOW. Moffett Nathanson began coverage on Lowe’s Companies in a research note on Monday. They issued a “buy” rating for the company. Atlantic Securities downgraded Lowe’s Companies from an “overweight” rating to a “neutral” rating and set a $92.00 price objective for the company. in a research note on Tuesday, November 28th. Raymond James Financial raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and set a $87.00 price objective for the company in a research note on Monday, November 27th. UBS raised Lowe’s Companies from a “market perform” rating to an “outperform” rating in a research note on Monday, November 27th. Finally, Credit Suisse Group set a $88.00 price objective on Lowe’s Companies and gave the company a “hold” rating in a research note on Friday, November 24th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and sixteen have given a buy rating to the company. The company has an average rating of “Hold” and an average target price of $87.40.
Shares of Lowe’s Companies, Inc. (LOW) traded down $1.73 during mid-day trading on Wednesday, reaching $86.31. The company had a trading volume of 9,665,900 shares, compared to its average volume of 5,924,166. Lowe’s Companies, Inc. has a 1-year low of $70.49 and a 1-year high of $88.55. The company has a market capitalization of $73,161.24, a PE ratio of 19.52, a PEG ratio of 1.41 and a beta of 1.15. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.12.
Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. Lowe’s Companies had a return on equity of 66.27% and a net margin of 5.16%. The business had revenue of $16.77 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same period in the prior year, the business posted $0.88 earnings per share. The firm’s revenue was up 6.6% on a year-over-year basis. sell-side analysts predict that Lowe’s Companies, Inc. will post 4.51 earnings per share 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 issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 1.90%. The ex-dividend date is Tuesday, January 23rd. Lowe’s Companies’s payout ratio is presently 39.33%.
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Lowe’s Companies Profile
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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