Brown Brothers Harriman & Co. grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 11.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,212 shares of the home improvement retailer’s stock after purchasing an additional 3,101 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Lowe’s Companies were worth $5,906,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp lifted its stake in shares of Lowe’s Companies by 1.0% in the 4th quarter. State Street Corp now owns 30,861,324 shares of the home improvement retailer’s stock valued at $7,977,035,000 after purchasing an additional 296,707 shares during the period. Norges Bank acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at about $1,751,232,000. Invesco Ltd. raised its stake in Lowe’s Companies by 4.3% during the 4th quarter. Invesco Ltd. now owns 5,143,399 shares of the home improvement retailer’s stock worth $1,329,463,000 after buying an additional 211,460 shares during the period. Egerton Capital UK LLP raised its stake in Lowe’s Companies by 56.2% during the 1st quarter. Egerton Capital UK LLP now owns 3,610,961 shares of the home improvement retailer’s stock worth $730,100,000 after buying an additional 1,299,622 shares during the period. Finally, Salem Investment Counselors Inc. raised its stake in Lowe’s Companies by 1,121.7% during the 4th quarter. Salem Investment Counselors Inc. now owns 3,302,622 shares of the home improvement retailer’s stock worth $853,662,000 after buying an additional 3,032,297 shares during the period. 74.04% of the stock is owned by institutional investors and hedge funds.
In other news, EVP Seemantini Godbole sold 11,761 shares of the company’s stock in a transaction dated Friday, August 19th. The shares were sold at an average price of $214.37, for a total transaction of $2,521,205.57. Following the sale, the executive vice president now directly owns 26,575 shares in the company, valued at approximately $5,696,882.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.24% of the company’s stock.
Lowe’s Companies Stock Up 1.5 %
Lowe’s Companies (NYSE:LOW – Get Rating) last announced its quarterly earnings results on Wednesday, August 17th. The home improvement retailer reported $4.67 EPS for the quarter, topping the consensus estimate of $4.59 by $0.08. The business had revenue of $27.48 billion for the quarter, compared to analysts’ expectations of $28.16 billion. Lowe’s Companies had a net margin of 8.83% and a negative return on equity of 155.26%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.25 EPS. On average, analysts anticipate that Lowe’s Companies, Inc. will post 13.51 EPS for the current fiscal year.
Lowe’s Companies Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be given a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a dividend yield of 2.05%. The ex-dividend date is Tuesday, October 18th. Lowe’s Companies’s dividend payout ratio is 33.10%.
Analysts Set New Price Targets
A number of research firms recently weighed in on LOW. TheStreet raised Lowe’s Companies from a “c+” rating to a “b” rating in a research note on Monday, August 29th. Citigroup boosted their price objective on Lowe’s Companies to $217.00 in a report on Monday, August 22nd. Evercore ISI boosted their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Jefferies Financial Group upped their target price on Lowe’s Companies from $238.00 to $255.00 and gave the company a “buy” rating in a report on Thursday, August 18th. Finally, MKM Partners upped their price objective on Lowe’s Companies from $190.00 to $220.00 and gave the company a “neutral” rating in a research note on Thursday, August 18th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $244.05.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, lighting, and electrical.
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