Burney Co. raised its position in shares of Lowe’s (NYSE:LOW) by 4.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 174,470 shares of the home improvement retailer’s stock after buying an additional 7,449 shares during the period. Lowe’s comprises 0.9% of Burney Co.’s portfolio, making the stock its 21st biggest position. Burney Co.’s holdings in Lowe’s were worth $15,310,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Almanack Investment Partners LLC. acquired a new stake in shares of Lowe’s during the fourth quarter worth approximately $106,000. Stonehearth Capital Management LLC acquired a new stake in shares of Lowe’s during the fourth quarter worth approximately $112,000. Truewealth LLC acquired a new stake in shares of Lowe’s during the fourth quarter worth approximately $128,000. Cerebellum GP LLC acquired a new stake in shares of Lowe’s during the fourth quarter worth approximately $129,000. Finally, Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Lowe’s by 50.0% in the fourth quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,500 shares of the home improvement retailer’s stock valued at $139,000 after purchasing an additional 500 shares in the last quarter. 73.15% of the stock is owned by institutional investors.
A number of analysts recently weighed in on LOW shares. Morgan Stanley set a $115.00 price target on shares of Lowe’s and gave the company a “buy” rating in a report on Monday, January 22nd. BTIG Research raised their price target on shares of Lowe’s to $115.00 and gave the company a “buy” rating in a report on Friday, January 19th. Telsey Advisory Group raised shares of Lowe’s from a “market perform” rating to an “outperform” rating and raised their price target for the company from $83.00 to $124.00 in a report on Thursday, January 25th. Sanford C. Bernstein raised shares of Lowe’s from an “underperform” rating to an “outperform” rating in a report on Monday, January 22nd. Finally, Wells Fargo started coverage on shares of Lowe’s in a report on Monday, April 23rd. They issued an “outperform” rating and a $100.00 price target for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-four have given a buy rating to the stock. Lowe’s has an average rating of “Buy” and an average target price of $99.00.
Lowe’s (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.13). The firm had revenue of $15.49 billion for the quarter, compared to the consensus estimate of $15.34 billion. Lowe’s had a return on equity of 65.17% and a net margin of 5.02%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same period in the prior year, the business earned $0.86 earnings per share. equities analysts anticipate that Lowe’s will post 5.46 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 9th. Stockholders of record on Wednesday, April 25th were given a dividend of $0.41 per share. The ex-dividend date was Tuesday, April 24th. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.92%. Lowe’s’s dividend payout ratio is 37.36%.
Lowe’s declared that its Board of Directors has authorized a share repurchase program on Friday, January 26th that permits the company to buyback $5.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to repurchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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