Homrich & Berg lessened its stake in Loweâ€™s Companies, Inc. (NYSE:LOW) by 29.7% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,467 shares of the home improvement retailerâ€™s stock after selling 1,468 shares during the quarter. Homrich & Bergâ€™s holdings in Loweâ€™s Companies were worth $331,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in LOW. ClariVest Asset Management LLC purchased a new position in shares of Loweâ€™s Companies during the first quarter worth approximately $118,000. Rainier Group Investment Advisory LLC purchased a new position in shares of Loweâ€™s Companies during the first quarter worth approximately $121,000. NuWave Investment Management LLC purchased a new position in shares of Loweâ€™s Companies during the second quarter worth approximately $126,000. FNY Investment Advisers LLC purchased a new position in shares of Loweâ€™s Companies during the second quarter worth approximately $127,000. Finally, Jacobi Capital Management LLC grew its position in shares of Loweâ€™s Companies by 88.8% during the first quarter. Jacobi Capital Management LLC now owns 1,524 shares of the home improvement retailerâ€™s stock worth $129,000 after acquiring an additional 717 shares during the last quarter. 74.13% of the stock is owned by institutional investors and hedge funds.
In other news, Director Lisa W. Wardell purchased 273 shares of the stock in a transaction dated Friday, August 24th. The stock was acquired at an average cost of $107.72 per share, for a total transaction of $29,407.56. Following the acquisition, the director now owns 273 shares of the companyâ€™s stock, valued at $29,407.56. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.30% of the stock is currently owned by insiders.Loweâ€™s Companies stock traded up $1.14 during midday trading on Friday, hitting $113.89. 5,253,913 shares of the company were exchanged, compared to its average volume of 5,204,450. Loweâ€™s Companies, Inc. has a fifty-two week low of $75.36 and a fifty-two week high of $114.54. The firm has a market capitalization of $92.42 billion, a PE ratio of 25.94, a price-to-earnings-growth ratio of 1.53 and a beta of 1.40. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.25 and a current ratio of 1.06.
Loweâ€™s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share (EPS) for the quarter, beating the Zacksâ€™ consensus estimate of $2.02 by $0.05. Loweâ€™s Companies had a return on equity of 71.96% and a net margin of 5.58%. The company had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same period in the prior year, the company posted $1.57 EPS. Loweâ€™s Companiesâ€™s quarterly revenue was up 7.1% on a year-over-year basis. analysts forecast that Loweâ€™s Companies, Inc. will post 5.2 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Wednesday, October 24th will be issued a $0.48 dividend. The ex-dividend date is Tuesday, October 23rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.69%. Loweâ€™s Companiesâ€™s dividend payout ratio (DPR) is 43.74%.
Several equities research analysts recently weighed in on the company. Jefferies Financial Group assumed coverage on Loweâ€™s Companies in a report on Tuesday, August 21st. They set a â€śbuyâ€ť rating and a $118.00 price target for the company. SunTrust Banks increased their price target on Loweâ€™s Companies to $110.00 and gave the stock a â€śholdâ€ť rating in a report on Thursday, August 23rd. Zacks Investment Research downgraded Loweâ€™s Companies from a â€śholdâ€ť rating to a â€śsellâ€ť rating in a report on Thursday, May 24th. KeyCorp reissued an â€śoverweightâ€ť rating and issued a $115.00 target price (up previously from $105.00) on shares of Loweâ€™s Companies in a report on Tuesday, July 24th. Finally, ValuEngine raised Loweâ€™s Companies from a â€śholdâ€ť rating to a â€śbuyâ€ť rating in a report on Thursday, May 24th. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. The stock currently has an average rating of â€śBuyâ€ť and a consensus target price of $111.41.
Loweâ€™s Companies Profile
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
Featured Story: How to calculate the intrinsic value of a stock
Receive News & Ratings for Lowe’s Companies Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for Lowe’s Companies and related companies with MarketBeat.com’s FREE daily email newsletter.