Livingston Group Asset Management CO operating as Southport Capital Management purchased a new stake in shares of Lowe’s Cos. (NYSE:LOW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,305 shares of the home improvement retailer’s stock, valued at approximately $103,000.
Several other hedge funds have also recently bought and sold shares of LOW. CWM LLC boosted its position in shares of Lowe’s Cos. by 0.3% in the second quarter. CWM LLC now owns 1,264 shares of the home improvement retailer’s stock valued at $100,000 after buying an additional 4 shares in the last quarter. Washington Trust Bank boosted its position in shares of 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 valued at $126,000 after buying an additional 191 shares in the last quarter. Jolley Asset Management LLC boosted its position in shares of 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 valued at $131,000 after buying an additional 650 shares in the last quarter. Cribstone Capital Management LLC acquired a new position in shares of Lowe’s Cos. during the second quarter valued at approximately $156,000. Finally, Rosenbaum Jay D. acquired a new position in shares of Lowe’s Cos. during the second quarter valued at approximately $202,000. 75.48% of the stock is owned by institutional investors and hedge funds.
Shares of Lowe’s Cos. (NYSE:LOW) traded up 0.71% during trading on Tuesday, reaching $72.70. 6,389,128 shares of the company’s stock were exchanged. Lowe’s Cos. has a 52 week low of $62.62 and a 52 week high of $83.65. The company’s 50-day moving average price is $74.25 and its 200 day moving average price is $77.36. The firm has a market capitalization of $63.59 billion, a PE ratio of 23.57 and a beta of 1.14.
Lowe’s Cos. (NYSE:LOW) last released its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $1.37 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.41 by $0.04. Lowe’s Cos. had a return on equity of 43.38% and a net margin of 4.58%. The firm earned $18.26 billion during the quarter, compared to analyst estimates of $18.42 billion. During the same period last year, the business earned $1.20 EPS. The firm’s revenue was up 5.3% on a year-over-year basis. Analysts predict that Lowe’s Cos. will post $4.02 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be issued a $0.35 dividend. The ex-dividend date is Monday, October 17th. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.93%. Lowe’s Cos.’s dividend payout ratio (DPR) is presently 45.16%.
Several equities analysts have commented on LOW shares. Morgan Stanley reissued an “overweight” rating on shares of Lowe’s Cos. in a research report on Wednesday, June 29th. Vetr raised shares of Lowe’s Cos. from a “buy” rating to a “strong-buy” rating and set a $86.38 price target for the company in a research report on Monday, June 27th. Jefferies Group reissued a “hold” rating on shares of Lowe’s Cos. in a research report on Monday, September 12th. Deutsche Bank AG reissued a “buy” rating and issued a $86.00 price target on shares of Lowe’s Cos. in a research report on Thursday, June 16th. Finally, Peel Hunt restated a “buy” rating and issued a $90.00 price objective (up from $85.00) on shares of Lowe’s Cos. in a report on Friday, September 23rd. Seven investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. Lowe’s Cos. has a consensus rating of “Buy” and an average price target of $85.93.
About Lowe’s Cos.
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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