ICM Asset Management Inc. WA increased its position in shares of Lowe’s Cos. (NYSE:LOW) by 150.0% during the second quarter, Holdings Channel reports. The firm owned 76,800 shares of the home improvement retailer’s stock after buying an additional 46,080 shares during the period. Lowe’s Cos. comprises 8.9% of ICM Asset Management Inc. WA’s holdings, making the stock its largest position. ICM Asset Management Inc. WA’s holdings in Lowe’s Cos. were worth $6,080,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. CWM LLC raised its position in Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock worth $100,000 after buying an additional 4 shares during the period. Livingston Group Asset Management CO operating as Southport Capital Management acquired a new position in Lowe’s Cos. during the second quarter worth $103,000. Washington Trust Bank raised its position in Lowe’s Cos. by 13.6% in the second quarter. Washington Trust Bank now owns 1,596 shares of the home improvement retailer’s stock worth $126,000 after buying an additional 191 shares during the period. Jolley Asset Management LLC raised its position in Lowe’s Cos. by 65.0% in the second quarter. Jolley Asset Management LLC now owns 1,650 shares of the home improvement retailer’s stock worth $131,000 after buying an additional 650 shares during the period. Finally, Cribstone Capital Management LLC acquired a new position in Lowe’s Cos. during the second quarter worth $156,000. 75.45% of the stock is owned by institutional investors and hedge funds.
Shares of Lowe’s Cos. (NYSE:LOW) traded down 1.44% during midday trading on Monday, reaching $69.98. The company had a trading volume of 4,954,738 shares. The company’s 50 day moving average price is $72.79 and its 200 day moving average price is $77.10. Lowe’s Cos. has a 52-week low of $62.62 and a 52-week high of $83.65. The stock has a market capitalization of $61.21 billion, a PE ratio of 22.68 and a beta of 1.14.
Lowe’s Cos. (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.41 by $0.04. The company earned $18.26 billion during the quarter, compared to analyst estimates of $18.42 billion. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. Lowe’s Cos.’s revenue for the quarter was up 5.3% on a year-over-year basis. During the same period in the prior year, the business earned $1.20 EPS. Equities research analysts expect that Lowe’s Cos. will post $4.02 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be given a $0.35 dividend. This represents a $1.40 dividend on an annualized basis and a yield of 2.00%. The ex-dividend date of this dividend is Monday, October 17th. Lowe’s Cos.’s dividend payout ratio is currently 45.16%.
A number of research analysts recently weighed in on the stock. JPMorgan Chase & Co. reissued a “buy” rating and issued a $89.00 target price on shares of Lowe’s Cos. in a report on Tuesday, August 16th. Vetr lowered shares of Lowe’s Cos. from a “strong-buy” rating to a “buy” rating and set a $86.38 target price for the company. in a report on Monday, June 20th. Cleveland Research lowered shares of Lowe’s Cos. from a “buy” rating to a “neutral” rating in a report on Thursday, October 6th. BMO Capital Markets raised their price target on Lowe’s Cos. from $76.43 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, August 22nd. Finally, Zacks Investment Research downgraded Lowe’s Cos. from a “buy” rating to a “hold” rating in a research report on Friday, August 19th. Eight equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $85.93.
Lowe’s Cos. Company Profile
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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