Obermeyer Wood Investment Counsel Lllp lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 212,977 shares of the home improvement retailer’s stock after selling 13,775 shares during the period. Lowe’s Companies accounts for about 1.6% of Obermeyer Wood Investment Counsel Lllp’s investment portfolio, making the stock its 24th largest position. Obermeyer Wood Investment Counsel Lllp’s holdings in Lowe’s Companies were worth $17,509,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the stock. Washington Trust Bank raised its position in Lowe’s Companies by 27.4% in the first quarter. Washington Trust Bank now owns 1,238 shares of the home improvement retailer’s stock valued at $102,000 after buying an additional 266 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in Lowe’s Companies during the first quarter valued at about $109,000. First Bank & Trust raised its position in Lowe’s Companies by 11.5% in the first quarter. First Bank & Trust now owns 1,421 shares of the home improvement retailer’s stock valued at $117,000 after buying an additional 147 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. acquired a new position in Lowe’s Companies during the first quarter valued at about $119,000. Finally, CWM LLC raised its position in Lowe’s Companies by 26.3% in the first quarter. CWM LLC now owns 1,700 shares of the home improvement retailer’s stock valued at $140,000 after buying an additional 354 shares during the last quarter. Hedge funds and other institutional investors own 74.54% of the company’s stock.
Lowe’s Companies, Inc. (LOW) opened at 76.43 on Tuesday. Lowe’s Companies, Inc. has a one year low of $64.87 and a one year high of $86.25. The company has a 50-day moving average of $80.38 and a 200 day moving average of $78.55. The company has a market cap of $64.52 billion, a P/E ratio of 23.97 and a beta of 1.08.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The firm had revenue of $16.86 billion for the quarter, compared to analyst estimates of $16.99 billion. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.87 EPS. Analysts anticipate that Lowe’s Companies, Inc. will post $4.62 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 9th. Investors of record on Wednesday, July 26th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.15%. The ex-dividend date is Monday, July 24th. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.35. Lowe’s Companies’s dividend payout ratio (DPR) is currently 44.03%.
Several equities analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a report on Monday. Sanford C. Bernstein restated an “underperform” rating and issued a $69.00 price objective on shares of Lowe’s Companies in a report on Wednesday, July 12th. Wolfe Research restated an “outperform” rating and issued a $94.00 price objective (down from $95.00) on shares of Lowe’s Companies in a report on Sunday, May 28th. Goldman Sachs Group, Inc. (The) decreased their price objective on shares of Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating for the company in a report on Thursday, May 25th. Finally, Royal Bank Of Canada restated a “buy” rating and issued a $90.00 price objective on shares of Lowe’s Companies in a report on Monday, April 3rd. Three analysts have rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the stock. Lowe’s Companies presently has a consensus rating of “Hold” and an average target price of $85.39.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the sale, the insider now owns 37,716 shares in the company, valued at $3,024,823.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 0.11% of the stock is currently owned by company insiders.
About Lowe’s Companies
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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