LPL Financial LLC Purchases 54,358 Shares of Lowe’s Companies, Inc. (LOW)

LPL Financial LLC lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 42.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 183,515 shares of the home improvement retailer’s stock after buying an additional 54,358 shares during the quarter. LPL Financial LLC’s holdings in Lowe’s Companies were worth $16,103,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of LOW. Mackenzie Financial Corp purchased a new stake in shares of Lowe’s Companies during the fourth quarter worth about $178,251,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of Lowe’s Companies by 267.8% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,279,741 shares of the home improvement retailer’s stock worth $211,879,000 after buying an additional 1,659,841 shares in the last quarter. Magellan Asset Management Ltd grew its holdings in shares of Lowe’s Companies by 4.5% during the fourth quarter. Magellan Asset Management Ltd now owns 24,499,155 shares of the home improvement retailer’s stock worth $2,276,951,000 after buying an additional 1,059,347 shares in the last quarter. Amundi Pioneer Asset Management Inc. grew its holdings in shares of Lowe’s Companies by 38.9% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 3,486,909 shares of the home improvement retailer’s stock worth $324,074,000 after buying an additional 977,309 shares in the last quarter. Finally, OppenheimerFunds Inc. grew its holdings in shares of Lowe’s Companies by 18.0% during the fourth quarter. OppenheimerFunds Inc. now owns 6,044,731 shares of the home improvement retailer’s stock worth $561,798,000 after buying an additional 920,015 shares in the last quarter. Institutional investors and hedge funds own 72.93% of the company’s stock.

In other news, SVP Matthew V. Hollifield sold 12,362 shares of the business’s stock in a transaction on Friday, June 8th. The shares were sold at an average price of $99.56, for a total transaction of $1,230,760.72. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.30% of the company’s stock.



Shares of NYSE LOW traded down $0.49 during trading on Monday, reaching $98.69. 34,577 shares of the stock were exchanged, compared to its average volume of 6,184,377. Lowe’s Companies, Inc. has a twelve month low of $70.76 and a twelve month high of $108.98. The company has a current ratio of 1.02, a quick ratio of 0.18 and a debt-to-equity ratio of 2.60. The stock has a market cap of $80.95 billion, a P/E ratio of 22.44, a PEG ratio of 1.10 and a beta of 1.35.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 23rd. The home improvement retailer reported $1.19 EPS for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). Lowe’s Companies had a return on equity of 66.36% and a net margin of 5.55%. The firm had revenue of $17.36 billion for the quarter, compared to analyst estimates of $17.44 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The company’s revenue for the quarter was up 3.0% on a year-over-year basis. research analysts expect that Lowe’s Companies, Inc. will post 5.44 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 8th. Stockholders of record on Wednesday, July 25th will be given a dividend of $0.48 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.41. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date is Tuesday, July 24th. Lowe’s Companies’s payout ratio is presently 37.36%.

A number of brokerages have recently commented on LOW. Credit Suisse Group set a $111.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Wednesday, May 23rd. Zacks Investment Research downgraded shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a report on Thursday, May 24th. Wells Fargo & Co restated a “buy” rating and issued a $100.00 target price on shares of Lowe’s Companies in a report on Tuesday, May 22nd. Royal Bank of Canada boosted their target price on shares of Lowe’s Companies to $104.00 and gave the company an “outperform” rating in a report on Thursday, May 24th. Finally, Morgan Stanley set a $115.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Thursday, May 24th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twenty-five have assigned a buy rating to the company. Lowe’s Companies currently has a consensus rating of “Buy” and an average price target of $100.79.

Lowe’s Companies Company Profile

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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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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