Riggs Asset Managment Co. Inc. acquired a new stake in Lowe's Companies, Inc. (NYSE:LOW – Get Rating) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 16,327 shares of the home improvement retailer's stock, valued at approximately $3,066,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Allworth Financial LP grew its holdings in Lowe's Companies by 13.0% in the 3rd quarter. Allworth Financial LP now owns 11,173 shares of the home improvement retailer's stock valued at $2,098,000 after buying an additional 1,283 shares in the last quarter. Financial Strategies Group Inc. grew its holdings in Lowe's Companies by 26.2% in the 3rd quarter. Financial Strategies Group Inc. now owns 5,916 shares of the home improvement retailer's stock valued at $1,111,000 after buying an additional 1,229 shares in the last quarter. New Millennium Group LLC acquired a new position in Lowe's Companies in the 2nd quarter valued at $47,000. Capital Analysts LLC grew its holdings in Lowe's Companies by 1.8% in the 2nd quarter. Capital Analysts LLC now owns 23,455 shares of the home improvement retailer's stock valued at $4,097,000 after buying an additional 425 shares in the last quarter. Finally, Wealthspire Advisors LLC grew its holdings in Lowe's Companies by 21.5% in the 2nd quarter. Wealthspire Advisors LLC now owns 2,964 shares of the home improvement retailer's stock valued at $518,000 after buying an additional 524 shares in the last quarter. 72.62% of the stock is owned by institutional investors and hedge funds.
Get Lowe's Companies alerts:Lowe's Companies Price Performance
NYSE LOW opened at $215.97 on Monday. The business has a 50 day simple moving average of $205.76 and a 200 day simple moving average of $200.30. Lowe's Companies, Inc. has a one year low of $170.12 and a one year high of $238.37. The stock has a market capitalization of $134.05 billion, a P/E ratio of 21.15, a P/E/G ratio of 1.17 and a beta of 1.13.
Lowe's Companies (NYSE:LOW – Get Rating) last released its earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 EPS for the quarter, topping the consensus estimate of $3.11 by $0.16. Lowe's Companies had a negative return on equity of 103.72% and a net margin of 6.97%. The business had revenue of $23.48 billion during the quarter, compared to analysts' expectations of $23.16 billion. During the same quarter last year, the firm posted $2.73 earnings per share. The firm's revenue was up 2.4% on a year-over-year basis. Equities analysts expect that Lowe's Companies, Inc. will post 13.73 earnings per share for the current year.Lowe's Companies Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Shareholders of record on Wednesday, January 25th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, January 24th. This represents a $4.20 dividend on an annualized basis and a yield of 1.94%. Lowe's Companies's dividend payout ratio (DPR) is presently 41.14%.
Insider Buying and Selling at Lowe's Companies
In other Lowe's Companies news, EVP Ross W. Mccanless sold 57,629 shares of the firm's stock in a transaction that occurred on Tuesday, December 13th. The stock was sold at an average price of $211.35, for a total value of $12,179,889.15. Following the completion of the sale, the executive vice president now owns 26,923 shares of the company's stock, valued at $5,690,176.05. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.24% of the company's stock.
Analysts Set New Price Targets
Several analysts have recently issued reports on LOW shares. Robert W. Baird increased their target price on Lowe's Companies from $230.00 to $250.00 in a report on Thursday, November 17th. MKM Partners reduced their target price on Lowe's Companies from $220.00 to $205.00 in a report on Wednesday, November 9th. UBS Group reduced their target price on Lowe's Companies from $260.00 to $250.00 and set a "buy" rating on the stock in a report on Friday, January 6th. Oppenheimer reissued an "outperform" rating and set a $300.00 target price on shares of Lowe's Companies in a report on Thursday, November 17th. Finally, Telsey Advisory Group reduced their target price on Lowe's Companies to $250.00 in a report on Monday, December 12th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $229.12.
Lowe's Companies Company Profile
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Lowe's Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.
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