Jacobi Capital Management LLC decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% during the 3rd quarter, Holdings Channel.com reports. The fund owned 5,877 shares of the home improvement retailer’s stock after selling 143 shares during the period. Jacobi Capital Management LLC’s holdings in Lowe’s Companies were worth $975,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. State Street Corp increased its stake in Lowe’s Companies by 2.7% during the first quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock worth $3,047,351,000 after purchasing an additional 922,369 shares during the period. FMR LLC increased its stake in Lowe’s Companies by 3.2% during the 2nd quarter. FMR LLC now owns 22,847,450 shares of the home improvement retailer’s stock worth $3,087,147,000 after buying an additional 706,111 shares during the period. Nuveen Asset Management LLC boosted its position in Lowe’s Companies by 2.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 8,351,287 shares of the home improvement retailer’s stock valued at $1,128,426,000 after buying an additional 181,285 shares during the period. Bank of New York Mellon Corp grew its stake in shares of Lowe’s Companies by 2.4% in the second quarter. Bank of New York Mellon Corp now owns 7,967,519 shares of the home improvement retailer’s stock worth $1,076,571,000 after acquiring an additional 184,794 shares in the last quarter. Finally, Swiss National Bank increased its position in shares of Lowe’s Companies by 1.7% during the second quarter. Swiss National Bank now owns 3,031,503 shares of the home improvement retailer’s stock worth $409,617,000 after acquiring an additional 50,800 shares during the period. Institutional investors own 74.63% of the company’s stock.
In related news, EVP Ross W. Mccanless sold 62,838 shares of the business’s stock in a transaction that occurred on Wednesday, August 26th. The stock was sold at an average price of $168.33, for a total transaction of $10,577,520.54. Following the sale, the executive vice president now owns 72,967 shares of the company’s stock, valued at $12,282,535.11. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.07% of the stock is owned by company insiders.
Shares of Lowe’s Companies stock opened at $160.23 on Tuesday. The company has a debt-to-equity ratio of 4.64, a current ratio of 1.30 and a quick ratio of 0.65. Lowe’s Companies, Inc. has a 1-year low of $60.00 and a 1-year high of $180.67. The business’s fifty day moving average price is $166.98 and its two-hundred day moving average price is $142.19. The company has a market capitalization of $121.09 billion, a P/E ratio of 21.31, a PEG ratio of 1.24 and a beta of 1.48.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.95 by $0.80. The business had revenue of $27.30 billion for the quarter, compared to analysts’ expectations of $24.24 billion. Lowe’s Companies had a net margin of 7.12% and a return on equity of 228.17%. The company’s revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the business earned $2.15 earnings per share. On average, research analysts expect that Lowe’s Companies, Inc. will post 8.51 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Wednesday, October 21st will be issued a $0.60 dividend. The ex-dividend date is Tuesday, October 20th. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a dividend yield of 1.50%. Lowe’s Companies’s dividend payout ratio (DPR) is 41.96%.
Several brokerages have weighed in on LOW. The Goldman Sachs Group upped their price target on Lowe’s Companies from $149.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Wells Fargo & Company lifted their price target on shares of Lowe’s Companies from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. BNP Paribas assumed coverage on shares of Lowe’s Companies in a research report on Monday, October 5th. They issued a “neutral” rating and a $159.00 price objective on the stock. Oppenheimer cut shares of Lowe’s Companies from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $185.00 to $180.00 in a research report on Friday, September 18th. Finally, Loop Capital upped their target price on shares of Lowe’s Companies from $180.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. They noted that the move was a valuation call. Four equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $169.16.
About Lowe’s Companies
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, dÃ©cor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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