Strategic Blueprint LLC grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 7.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 1,883 shares of the home improvement retailer’s stock after acquiring an additional 133 shares during the quarter. Strategic Blueprint LLC’s holdings in Lowe’s Companies were worth $312,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Two Sigma Advisers LP lifted its position in Lowe’s Companies by 157.7% during the 2nd quarter. Two Sigma Advisers LP now owns 2,983,502 shares of the home improvement retailer’s stock worth $403,131,000 after acquiring an additional 1,825,900 shares in the last quarter. Man Group plc lifted its position in Lowe’s Companies by 4,527.7% during the 2nd quarter. Man Group plc now owns 1,685,416 shares of the home improvement retailer’s stock worth $227,734,000 after acquiring an additional 1,648,996 shares in the last quarter. AQR Capital Management LLC lifted its position in Lowe’s Companies by 272.8% during the 2nd quarter. AQR Capital Management LLC now owns 1,953,990 shares of the home improvement retailer’s stock worth $262,148,000 after acquiring an additional 1,429,911 shares in the last quarter. Standard Life Aberdeen plc lifted its position in shares of Lowe’s Companies by 186.2% during the third quarter. Standard Life Aberdeen plc now owns 1,525,532 shares of the home improvement retailer’s stock worth $253,025,000 after purchasing an additional 992,575 shares in the last quarter. Finally, State Street Corp boosted its stake in shares of Lowe’s Companies by 2.7% in the first quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock valued at $3,047,351,000 after purchasing an additional 922,369 shares during the period. 74.63% of the stock is currently owned by institutional investors and hedge funds.
In other Lowe’s Companies news, EVP Ross W. Mccanless sold 62,838 shares of the firm’s stock in a transaction that occurred 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 sale, the executive vice president now owns 72,967 shares in the company, valued at $12,282,535.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.07% of the stock is currently owned by corporate insiders.
A number of equities analysts have commented on LOW shares. Guggenheim boosted their price objective on shares of Lowe’s Companies from $135.00 to $175.00 in a report on Thursday, August 20th. Wedbush increased their price target on Lowe’s Companies from $125.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, August 20th. The Goldman Sachs Group lifted their price objective on Lowe’s Companies from $149.00 to $176.00 and gave the stock a “buy” rating in a report on Thursday, August 20th. Jefferies Financial Group upped their target price on Lowe’s Companies from $193.00 to $205.00 in a research report on Wednesday, August 26th. Finally, Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “strong-buy” rating and set a $187.00 price target for the company in a research report on Monday, August 24th. Four equities research analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the company’s stock. Lowe’s Companies has an average rating of “Buy” and a consensus price target of $169.16.
Shares of LOW opened at $160.75 on Friday. Lowe’s Companies, Inc. has a 12 month low of $60.00 and a 12 month high of $180.67. The company has a debt-to-equity ratio of 4.64, a current ratio of 1.30 and a quick ratio of 0.65. The stock has a fifty day moving average price of $167.11 and a 200 day moving average price of $140.92. The company has a market cap of $121.48 billion, a P/E ratio of 21.38, a PEG ratio of 1.24 and a beta of 1.48.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.80. The company had revenue of $27.30 billion during the quarter, compared to the consensus estimate 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 for the quarter was up 30.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.15 earnings per share. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 8.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Wednesday, October 21st will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.49%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, October 20th. Lowe’s Companies’s payout ratio is presently 41.96%.
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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