LMR Partners LLP purchased a new position in shares of Lowe’s Cos. (NYSE:LOW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 27,532 shares of the home improvement retailer’s stock, valued at approximately $2,179,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes 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 last quarter. Livingston Group Asset Management CO operating as Southport Capital Management purchased a new position in shares of Lowe’s Cos. during the second quarter valued at about $103,000. Washington Trust Bank raised 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 raised 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. Finally, Cribstone Capital Management LLC purchased a new position in shares of Lowe’s Cos. during the second quarter valued at about $156,000. 75.48% of the stock is owned by institutional investors and hedge funds.
Shares of Lowe’s Cos. (NYSE:LOW) traded down 0.22% during midday trading on Thursday, hitting $72.09. The stock had a trading volume of 6,658,636 shares. The stock has a market cap of $63.05 billion, a PE ratio of 23.37 and a beta of 1.13. The firm has a 50 day moving average price of $73.99 and a 200-day moving average price of $77.32. Lowe’s Cos. has a 52-week low of $62.62 and a 52-week high of $83.65.
Lowe’s Cos. (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing the consensus estimate of $1.41 by $0.04. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The business earned $18.26 billion during the quarter, compared to analysts’ expectations of $18.42 billion. During the same period in the previous year, the company posted $1.20 earnings per share. Lowe’s Cos.’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts predict that Lowe’s Cos. will post $4.02 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be issued a $0.35 dividend. This represents a $1.40 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend is Monday, October 17th. Lowe’s Cos.’s payout ratio is 45.16%.
LOW has been the subject of several research reports. Morgan Stanley reissued an “overweight” rating on shares of Lowe’s Cos. in a research report on Wednesday, June 29th. Vetr raised Lowe’s Cos. from a “buy” rating to a “strong-buy” rating and set a $86.38 target price 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 target price on shares of Lowe’s Cos. in a research report on Thursday, June 16th. Finally, Peel Hunt reissued a “buy” rating and issued a $90.00 target price (up previously from $85.00) on shares of Lowe’s Cos. in a research report on Friday, September 23rd. Eight equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Lowe’s Cos. presently has an average rating of “Buy” and an average price target 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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