Perigon Wealth Management LLC raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 18.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,274 shares of the home improvement retailer’s stock after buying an additional 974 shares during the period. Perigon Wealth Management LLC’s holdings in Lowe’s Companies were worth $848,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of the company. State Street Corp increased its stake in shares of Lowe’s Companies by 2.7% in the first quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock valued at $3,047,351,000 after buying an additional 922,369 shares during the period. Geode Capital Management LLC grew its holdings in shares of Lowe’s Companies by 0.5% during the first quarter. Geode Capital Management LLC now owns 10,403,533 shares of the home improvement retailer’s stock valued at $893,464,000 after buying an additional 47,959 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Lowe’s Companies by 31.7% during the first quarter. Nuveen Asset Management LLC now owns 8,170,002 shares of the home improvement retailer’s stock valued at $703,029,000 after acquiring an additional 1,966,342 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in Lowe’s Companies by 26.9% in the 1st quarter. Bank of New York Mellon Corp now owns 7,782,725 shares of the home improvement retailer’s stock worth $669,704,000 after acquiring an additional 1,647,977 shares during the last quarter. Finally, Viking Global Investors LP raised its holdings in Lowe’s Companies by 23.6% in the 1st quarter. Viking Global Investors LP now owns 5,470,144 shares of the home improvement retailer’s stock worth $470,706,000 after acquiring an additional 1,045,758 shares during the last quarter. Institutional investors own 74.49% of the company’s stock.
LOW has been the topic of several analyst reports. UBS Group lifted their price target on shares of Lowe’s Companies from $130.00 to $140.00 and gave the stock a “buy” rating in a research note on Thursday, May 21st. Stifel Nicolaus upped their price target on Lowe’s Companies from $149.00 to $156.00 and gave the stock a “buy” rating in a research report on Wednesday, June 17th. Oppenheimer reiterated a “buy” rating on shares of Lowe’s Companies in a research note on Tuesday, June 16th. SunTrust Banks increased their target price on shares of Lowe’s Companies from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Bank of America lifted their price target on shares of Lowe’s Companies from $143.00 to $150.00 and gave the company a “buy” rating in a report on Friday, June 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-eight have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $140.86.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, May 20th. The home improvement retailer reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.45. Lowe’s Companies had a net margin of 6.17% and a return on equity of 220.44%. The business had revenue of $19.68 billion for the quarter, compared to analysts’ expectations of $18.33 billion. During the same quarter last year, the company earned $1.22 EPS. The business’s revenue was up 10.9% on a year-over-year basis. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 6.74 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd will be given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date is Tuesday, July 21st. Lowe’s Companies’s dividend payout ratio (DPR) is 38.46%.
Lowe’s Companies Company 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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