Gabelli Funds LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 131,100 shares of the home improvement retailer’s stock after purchasing an additional 4,000 shares during the quarter. Gabelli Funds LLC’s holdings in Lowe’s Companies were worth $14,416,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Citizens Financial Group Inc RI grew its stake in shares of Lowe’s Companies by 1.6% during the third quarter. Citizens Financial Group Inc RI now owns 11,942 shares of the home improvement retailer’s stock valued at $1,313,000 after acquiring an additional 193 shares in the last quarter. Bank Hapoalim BM acquired a new position in Lowe’s Companies in the 3rd quarter worth approximately $214,000. IFM Investors Pty Ltd boosted its stake in Lowe’s Companies by 51.2% in the 3rd quarter. IFM Investors Pty Ltd now owns 85,992 shares of the home improvement retailer’s stock worth $9,456,000 after purchasing an additional 29,123 shares during the period. Verity Asset Management Inc. acquired a new position in Lowe’s Companies in the 3rd quarter worth approximately $303,000. Finally, Legacy Financial Strategies LLC boosted its stake in Lowe’s Companies by 7.0% in the 3rd quarter. Legacy Financial Strategies LLC now owns 7,417 shares of the home improvement retailer’s stock worth $828,000 after purchasing an additional 484 shares during the period. 76.35% of the stock is currently owned by institutional investors.
LOW opened at $113.94 on Thursday. The company’s 50 day moving average is $110.68 and its 200-day moving average is $105.71. Lowe’s Companies, Inc. has a 1-year low of $84.75 and a 1-year high of $118.23. The company has a current ratio of 1.06, a quick ratio of 0.19 and a debt-to-equity ratio of 7.80. The company has a market cap of $86.92 billion, a P/E ratio of 22.17, a PEG ratio of 1.48 and a beta of 1.29.
Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, topping the consensus estimate of $2.00 by $0.15. The business had revenue of $20.99 billion for the quarter, compared to the consensus estimate of $20.96 billion. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The firm’s revenue was up .5% compared to the same quarter last year. During the same period last year, the company earned $2.07 EPS. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 5.67 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.93%. The ex-dividend date of this dividend was Tuesday, October 22nd. Lowe’s Companies’s payout ratio is currently 42.80%.
LOW has been the subject of a number of recent analyst reports. Wolfe Research lowered shares of Lowe’s Companies from an “outperform” rating to a “market perform” rating and set a $118.00 price objective for the company. in a research note on Tuesday, October 8th. Jefferies Financial Group set a $125.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Monday, August 26th. ValuEngine lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Morgan Stanley lifted their target price on shares of Lowe’s Companies from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Finally, Loop Capital lifted their target price on shares of Lowe’s Companies to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Seven equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. Lowe’s Companies presently has an average rating of “Buy” and a consensus target price of $122.83.
In other Lowe’s Companies news, CAO Matthew V. Hollifield sold 12,136 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $112.34, for a total transaction of $1,363,358.24. Following the completion of the sale, the chief accounting officer now owns 28,017 shares of the company’s stock, valued at $3,147,429.78. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Jennifer L. Weber sold 12,589 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $112.62, for a total value of $1,417,773.18. Following the sale, the executive vice president now directly owns 17,440 shares of the company’s stock, valued at approximately $1,964,092.80. The disclosure for this sale can be found here. 0.07% of the stock is owned by company insiders.
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 lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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