Croft Leominster Inc. Sells 49,741 Shares of Lowe’s Companies, Inc. (LOW)
Croft Leominster Inc. lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 47.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 56,017 shares of the home improvement retailer’s stock after selling 49,741 shares during the period. Croft Leominster Inc.’s holdings in Lowe’s Companies were worth $4,605,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of LOW. Quantitative Systematic Strategies LLC acquired a new position in Lowe’s Companies during the first quarter worth approximately $2,114,000. Alta Capital Management LLC increased its position in Lowe’s Companies by 7.1% in the first quarter. Alta Capital Management LLC now owns 189,589 shares of the home improvement retailer’s stock worth $15,586,000 after buying an additional 12,568 shares during the last quarter. Professional Advisory Services Inc. acquired a new position in Lowe’s Companies during the first quarter worth approximately $226,000. Ledyard National Bank increased its position in Lowe’s Companies by 457.5% in the first quarter. Ledyard National Bank now owns 5,179 shares of the home improvement retailer’s stock worth $426,000 after buying an additional 4,250 shares during the last quarter. Finally, Bollard Group LLC increased its position in Lowe’s Companies by 0.5% in the first quarter. Bollard Group LLC now owns 20,334 shares of the home improvement retailer’s stock worth $1,672,000 after buying an additional 97 shares during the last quarter. Institutional investors own 72.91% of the company’s stock.
Lowe’s Companies, Inc. (NYSE LOW) traded up 0.50% during mid-day trading on Monday, hitting $73.72. The stock had a trading volume of 2,358,786 shares. The stock has a market cap of $61.70 billion, a price-to-earnings ratio of 20.93 and a beta of 1.08. The company has a 50-day moving average of $75.99 and a 200-day moving average of $79.50. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing analysts’ consensus estimates of $1.62 by $0.05. The company had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The business’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.37 EPS. On average, analysts anticipate that Lowe’s Companies, Inc. will post $4.50 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.24%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio is currently 46.20%.
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A number of research firms have recently commented on LOW. Oppenheimer Holdings, Inc. set a $100.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a report on Wednesday, May 24th. Wolfe Research reiterated an “outperform” rating and issued a $94.00 price objective (down previously from $95.00) on shares of Lowe’s Companies in a report on Sunday, May 28th. Sanford C. Bernstein reiterated an “underperform” rating and issued a $69.00 price objective on shares of Lowe’s Companies in a report on Wednesday, July 12th. BidaskClub upgraded Lowe’s Companies from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Robert W. Baird set a $87.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a report on Thursday. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and thirteen have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $84.57.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the completion of the sale, the insider now owns 37,716 shares of the company’s stock, valued at $3,024,823.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.
Lowe’s Companies Company Profile
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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