Lowe’s Companies, Inc. (NYSE:LOW) Stake Lifted by Vantage Investment Partners LLC
Vantage Investment Partners LLC grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.2% during the first quarter, HoldingsChannel.com reports. The firm owned 98,371 shares of the home improvement retailer’s stock after acquiring an additional 150 shares during the quarter. Lowe’s Companies comprises about 1.0% of Vantage Investment Partners LLC’s holdings, making the stock its 23rd largest position. Vantage Investment Partners LLC’s holdings in Lowe’s Companies were worth $10,769,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the company. Clarfeld Financial Advisors LLC purchased a new position in Lowe’s Companies during the fourth quarter worth about $26,000. Advisors Preferred LLC purchased a new stake in shares of Lowe’s Companies in the 1st quarter valued at approximately $26,000. Icon Wealth Partners LLC purchased a new stake in shares of Lowe’s Companies in the 1st quarter valued at approximately $26,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Lowe’s Companies in the 1st quarter valued at approximately $33,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of Lowe’s Companies by 117.4% in the 1st quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 337 shares of the home improvement retailer’s stock valued at $36,000 after acquiring an additional 182 shares during the period. 76.85% of the stock is currently owned by institutional investors.
A number of equities research analysts have recently issued reports on LOW shares. Wells Fargo & Co boosted their price target on shares of Lowe’s Companies from $110.00 to $120.00 in a research note on Thursday, February 28th. Zacks Investment Research downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday, February 12th. Evercore ISI initiated coverage on shares of Lowe’s Companies in a report on Wednesday, March 20th. They set an “outperform” rating and a $120.00 price target for the company. Morgan Stanley boosted their price target on shares of Lowe’s Companies from $110.00 to $115.00 and gave the stock an “overweight” rating in a report on Thursday, February 28th. Finally, ValuEngine upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Nine equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $113.48.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 EPS for the quarter, missing the consensus estimate of $1.33 by ($0.11). Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The business had revenue of $17.74 billion during the quarter, compared to analysts’ expectations of $17.65 billion. During the same quarter last year, the company earned $1.19 EPS. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 5.59 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a $0.55 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, July 23rd. This represents a $2.20 annualized dividend and a yield of 2.28%. Lowe’s Companies’s dividend payout ratio is 37.35%.
In other Lowe’s Companies news, insider Marvin R. Ellison purchased 10,000 shares of Lowe’s Companies stock in a transaction that occurred on Friday, May 24th. The stock was purchased at an average price of $95.05 per share, for a total transaction of $950,500.00. Following the transaction, the insider now directly owns 80,090 shares in the company, valued at $7,612,554.50. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.07% of the stock is owned by corporate insiders.
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. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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