Westpac Banking Corp increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 216,272 shares of the home improvement retailer’s stock after buying an additional 1,041 shares during the quarter. Westpac Banking Corp’s holdings in Lowe’s Companies were worth $21,824,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of LOW. Geode Capital Management LLC lifted its holdings in Lowe’s Companies by 7.6% during the fourth quarter. Geode Capital Management LLC now owns 10,336,009 shares of the home improvement retailer’s stock valued at $952,946,000 after purchasing an additional 728,740 shares in the last quarter. Boston Partners lifted its holdings in Lowe’s Companies by 20.3% during the first quarter. Boston Partners now owns 4,900,149 shares of the home improvement retailer’s stock valued at $536,420,000 after purchasing an additional 826,414 shares in the last quarter. Artisan Partners Limited Partnership lifted its holdings in Lowe’s Companies by 14.9% during the first quarter. Artisan Partners Limited Partnership now owns 3,735,627 shares of the home improvement retailer’s stock valued at $408,939,000 after purchasing an additional 483,822 shares in the last quarter. Parametric Portfolio Associates LLC lifted its holdings in Lowe’s Companies by 0.6% during the first quarter. Parametric Portfolio Associates LLC now owns 3,349,230 shares of the home improvement retailer’s stock valued at $366,640,000 after purchasing an additional 19,829 shares in the last quarter. Finally, Swiss National Bank lifted its holdings in Lowe’s Companies by 2.1% during the first quarter. Swiss National Bank now owns 2,690,548 shares of the home improvement retailer’s stock valued at $294,534,000 after purchasing an additional 54,100 shares in the last quarter. 76.36% of the stock is currently owned by institutional investors.

LOW traded up $0.82 during trading hours on Tuesday, hitting $96.90. The company’s stock had a trading volume of 329,844 shares, compared to its average volume of 4,624,424. The firm has a 50-day moving average of $102.21. Lowe’s Companies, Inc. has a 12 month low of $84.75 and a 12 month high of $118.23. The firm has a market cap of $77.16 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.28 and a beta of 1.36. The company has a current ratio of 1.09, a quick ratio of 0.24 and a debt-to-equity ratio of 6.37.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing the consensus estimate of $1.33 by ($0.11). Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The business had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $17.65 billion. During the same quarter in the prior year, the firm posted $1.19 EPS. The company’s revenue for the quarter was up 2.2% on a year-over-year basis. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 5.59 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.27%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Tuesday, July 23rd. Lowe’s Companies’s payout ratio is presently 42.80%.

Several brokerages have weighed in on LOW. UBS Group lowered their price target on shares of Lowe’s Companies from $125.00 to $115.00 and set a “buy” rating on the stock in a report on Thursday, May 23rd. Cfra reiterated a “hold” rating and set a $105.00 price objective on shares of Lowe’s Companies in a research report on Friday, June 14th. Barclays lifted their price objective on shares of Lowe’s Companies from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, June 24th. Morgan Stanley set a $123.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, May 23rd. Finally, Zacks Investment Research upgraded shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Ten investment analysts have rated the stock with a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $112.88.

In other news, EVP Donald Frieson acquired 2,030 shares of the company’s stock in a transaction on Wednesday, June 19th. The stock was bought at an average cost of $98.69 per share, with a total value of $200,340.70. Following the completion of the purchase, the executive vice president now directly owns 10,980 shares of the company’s stock, valued at $1,083,616.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Marvin R. Ellison acquired 10,000 shares of the company’s stock in a transaction on Friday, May 24th. The shares were purchased at an average cost of $95.05 per share, with a total value of $950,500.00. Following the completion of the purchase, the insider now directly owns 80,090 shares of the company’s stock, valued at $7,612,554.50. The disclosure for this purchase can be found here. Insiders have acquired 12,280 shares of company stock valued at $1,174,566 over the last ninety days. 0.07% of the stock is owned by insiders.

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 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.

See Also: Market Capitalization and Individual Investors

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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