Gryphon Financial Partners LLC Boosts Stake in Lowe’s Companies, Inc. (LOW)
Gryphon Financial Partners LLC increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1,439.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,079 shares of the home improvement retailer’s stock after acquiring an additional 5,684 shares during the quarter. Gryphon Financial Partners LLC’s holdings in Lowe’s Companies were worth $698,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Almanack Investment Partners LLC. bought a new position in Lowe’s Companies during the second quarter worth about $103,000. CSat Investment Advisory L.P. bought a new position in Lowe’s Companies during the second quarter worth about $108,000. Capital Advisors Ltd. LLC bought a new position in Lowe’s Companies during the third quarter worth about $116,000. NuWave Investment Management LLC bought a new position in Lowe’s Companies during the second quarter worth about $126,000. Finally, FNY Investment Advisers LLC bought a new position in Lowe’s Companies during the second quarter worth about $127,000. 74.59% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Lisa W. Wardell purchased 273 shares of Lowe’s Companies stock in a transaction dated Friday, August 24th. The shares were bought at an average cost of $107.72 per share, for a total transaction of $29,407.56. Following the purchase, the director now owns 273 shares in the company, valued at approximately $29,407.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Marshall A. Croom sold 15,735 shares of the firm’s stock in a transaction that occurred on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total transaction of $1,803,388.35. Following the completion of the sale, the chief financial officer now owns 63,099 shares in the company, valued at $7,231,776.39. The disclosure for this sale can be found here. Company insiders own 0.30% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.05. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The company had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. During the same period last year, the company posted $1.57 EPS. The firm’s quarterly revenue was up 7.1% compared to the same quarter last year. On average, analysts expect that Lowe’s Companies, Inc. will post 5.17 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Stockholders of record on Wednesday, January 23rd will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.98%. Lowe’s Companies’s payout ratio is currently 43.74%.
LOW has been the topic of a number of recent research reports. Loop Capital set a $115.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, July 18th. KeyCorp reaffirmed an “overweight” rating and set a $115.00 price target (up from $105.00) on shares of Lowe’s Companies in a research report on Tuesday, July 24th. Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Tuesday, July 24th. Jefferies Financial Group assumed coverage on shares of Lowe’s Companies in a report on Tuesday, August 21st. They issued a “buy” rating and a $118.00 target price on the stock. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Lowe’s Companies in a report on Wednesday, August 22nd. Nine equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Lowe’s Companies presently has an average rating of “Buy” and a consensus target price of $112.41.
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Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.
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