R. G. Niederhoffer Capital Management Inc. boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 33.3% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,400 shares of the home improvement retailer’s stock after acquiring an additional 1,600 shares during the quarter. Lowe’s Companies accounts for approximately 3.5% of R. G. Niederhoffer Capital Management Inc.’s portfolio, making the stock its 14th largest holding. R. G. Niederhoffer Capital Management Inc.’s holdings in Lowe’s Companies were worth $612,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOW. Ironsides Asset Advisors LLC increased its position in shares of Lowe’s Companies by 698.3% during the second quarter. Ironsides Asset Advisors LLC now owns 8,327,089 shares of the home improvement retailer’s stock valued at $98,637,000 after acquiring an additional 7,284,000 shares in the last quarter. Boston Partners boosted its stake in shares of Lowe’s Companies by 382.4% during the 2nd quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock worth $457,230,000 after acquiring an additional 3,792,479 shares during the last quarter. PointState Capital LP purchased a new position in shares of Lowe’s Companies during the 1st quarter worth $167,429,000. Hound Partners LLC purchased a new position in shares of Lowe’s Companies during the 1st quarter worth $110,952,000. Finally, Cornerstone Wealth Management LLC boosted its stake in shares of Lowe’s Companies by 9,531.7% during the 2nd quarter. Cornerstone Wealth Management LLC now owns 851,443 shares of the home improvement retailer’s stock worth $8,975,000 after acquiring an additional 842,603 shares during the last quarter. 75.48% of the stock is currently owned by institutional investors and hedge funds.
In other news, SVP Matthew V. Hollifield sold 12,362 shares of the business’s stock in a transaction dated Friday, June 8th. The shares were sold at an average price of $99.56, for a total value of $1,230,760.72. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.30% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 23rd. The home improvement retailer reported $1.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.22 by ($0.03). The company had revenue of $17.36 billion during the quarter, compared to the consensus estimate of $17.44 billion. Lowe’s Companies had a net margin of 5.55% and a return on equity of 66.36%. The business’s revenue was up 3.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.03 earnings per share. analysts forecast that Lowe’s Companies, Inc. will post 5.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 8th. Stockholders of record on Wednesday, July 25th were issued a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, July 24th. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.41. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.98%. Lowe’s Companies’s payout ratio is 43.74%.
Several research analysts have recently weighed in on the stock. Zacks Investment Research cut shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday. KeyCorp reiterated an “overweight” rating and set a $115.00 price target (up previously from $105.00) on shares of Lowe’s Companies in a research note on Tuesday, July 24th. Loop Capital set a $115.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, July 18th. Argus lifted their target price on shares of Lowe’s Companies from $100.00 to $110.00 and gave the company a “buy” rating in a research note on Friday, May 25th. Finally, ValuEngine upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Thursday, May 24th. Nine research analysts have rated the stock with a hold rating and twenty-four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $103.00.
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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