Bernardo Wealth Planning LLC raised its holdings in Lowe's Companies, Inc. (NYSE:LOW) by 55.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,252 shares of the home improvement retailer’s stock after acquiring an additional 1,525 shares during the period. Bernardo Wealth Planning LLC’s holdings in Lowe's Companies were worth $705,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. bought a new position in shares of Lowe's Companies during the 2nd quarter worth approximately $26,000. PrairieView Partners LLC acquired a new stake in shares of Lowe's Companies during the second quarter worth $26,000. Financial Management Professionals Inc. acquired a new stake in shares of Lowe's Companies during the second quarter worth $32,000. Carolina Wealth Advisors LLC acquired a new stake in shares of Lowe's Companies during the third quarter worth $33,000. Finally, Price Wealth LLC acquired a new stake in shares of Lowe's Companies during the second quarter worth $35,000. 74.63% of the stock is currently owned by hedge funds and other institutional investors.
In other Lowe's Companies news, EVP Ross W. Mccanless sold 62,838 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $168.33, for a total value of $10,577,520.54. Following the completion of the sale, the executive vice president now directly owns 72,967 shares of the company’s stock, valued at $12,282,535.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.07% of the company’s stock.
NYSE LOW opened at $170.61 on Monday. Lowe's Companies, Inc. has a 52-week low of $60.00 and a 52-week high of $180.67. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.65 and a current ratio of 1.30. The company has a market capitalization of $130.09 billion, a P/E ratio of 22.89, a P/E/G ratio of 1.24 and a beta of 1.48. The company has a fifty day moving average of $165.70 and a 200-day moving average of $138.46.
Lowe's Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.95 by $0.80. Lowe's Companies had a net margin of 7.12% and a return on equity of 228.17%. The company had revenue of $27.30 billion during the quarter, compared to the consensus estimate of $24.24 billion. During the same period in the previous year, the firm posted $2.15 EPS. The firm’s revenue was up 30.1% compared to the same quarter last year. As a group, analysts forecast that Lowe's Companies, Inc. will post 8.51 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Wednesday, October 21st will be paid a $0.60 dividend. The ex-dividend date is Tuesday, October 20th. This is an increase from Lowe's Companies’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a yield of 1.41%. Lowe's Companies’s payout ratio is currently 41.96%.
Several research firms recently issued reports on LOW. DA Davidson upped their target price on Lowe's Companies from $180.00 to $185.00 in a report on Thursday, August 20th. Loop Capital boosted their price target on Lowe's Companies from $180.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, September 23rd. They noted that the move was a valuation call. Wedbush upped their target price on Lowe's Companies from $125.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Oppenheimer downgraded Lowe's Companies from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $185.00 to $180.00 in a research report on Friday, September 18th. Finally, BNP Paribas began coverage on Lowe's Companies in a research report on Monday, October 5th. They issued a “neutral” rating and a $159.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $170.13.
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.
Further Reading: Return on Investment (ROI) Defined, Explained
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