Calton & Associates Inc. Invests $516,000 in Lowe's Companies, Inc. (LOW) Stock
Calton & Associates Inc. purchased a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW) in the 4th quarter, HoldingsChannel.com reports. The firm purchased 4,826 shares of the home improvement retailer’s stock, valued at approximately $516,000.
Other hedge funds also recently made changes to their positions in the company. Summit Global Investments purchased a new position in Lowe's Companies during the second quarter valued at approximately $1,421,000. Glenview State Bank Trust DEPT. purchased a new position in Lowe's Companies during the fourth quarter valued at approximately $204,000. Ffcm LLC raised its position in Lowe's Companies by 6.4% during the second quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock valued at $2,395,000 after acquiring an additional 1,853 shares in the last quarter. Burney Co. raised its position in Lowe's Companies by 3.9% during the second quarter. Burney Co. now owns 145,724 shares of the home improvement retailer’s stock valued at $11,162,000 after acquiring an additional 5,453 shares in the last quarter. Finally, PGGM Investments raised its position in Lowe's Companies by 45.8% during the third quarter. PGGM Investments now owns 986,226 shares of the home improvement retailer’s stock valued at $78,839,000 after acquiring an additional 309,870 shares in the last quarter. Institutional investors own 72.54% of the company’s stock.
Several research analysts recently weighed in on the company. Atlantic Securities cut Lowe's Companies from an “overweight” rating to a “neutral” rating and set a $92.00 price target for the company. in a research report on Tuesday, November 28th. Credit Suisse Group set a $116.00 price target on Lowe's Companies and gave the company a “buy” rating in a research report on Tuesday, January 16th. Piper Jaffray Companies reiterated a “hold” rating and set a $82.00 price target on shares of Lowe's Companies in a research report on Friday, November 24th. Stifel Nicolaus restated a “buy” rating and issued a $103.00 price objective on shares of Lowe's Companies in a research report on Friday, December 22nd. Finally, Barclays upgraded Lowe's Companies from an “equal weight” rating to an “overweight” rating in a research report on Friday, January 5th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. Lowe's Companies currently has a consensus rating of “Buy” and a consensus target price of $96.35.
Lowe's Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.03. The firm had revenue of $16.77 billion during the quarter, compared to analysts’ expectations of $16.59 billion. Lowe's Companies had a return on equity of 66.27% and a net margin of 5.16%. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. analysts predict that Lowe's Companies, Inc. will post 4.53 EPS for the current fiscal year.
Lowe's Companies declared that its board has authorized a share buyback program on Friday, January 26th that authorizes the company to buyback $5.00 billion in outstanding shares. This buyback authorization authorizes the home improvement retailer to reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.
In other Lowe's Companies news, insider Nelson B. Peace sold 3,352 shares of the business’s stock in a transaction on Monday, November 27th. The stock was sold at an average price of $80.20, for a total transaction of $268,830.40. Following the transaction, the insider now owns 4,650 shares of the company’s stock, valued at $372,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.11% of the company’s stock.
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About Lowe's Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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