Bard Financial Services Inc. purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 13,055 shares of the home improvement retailer’s stock, valued at approximately $2,095,000.
Other hedge funds also recently added to or reduced their stakes in the company. Tortoise Investment Management LLC boosted its stake in shares of Lowe’s Companies by 208.0% in the 4th quarter. Tortoise Investment Management LLC now owns 154 shares of the home improvement retailer’s stock valued at $25,000 after purchasing an additional 104 shares in the last quarter. RWM Asset Management LLC bought a new position in Lowe’s Companies in the 4th quarter worth $26,000. DB Wealth Management Group LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth about $31,000. Chiron Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the 3rd quarter worth about $33,000. Finally, Perennial Advisors LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth about $32,000. 76.11% of the stock is owned by institutional investors and hedge funds.
In related news, Director David H. Batchelder acquired 6,250 shares of Lowe’s Companies stock in a transaction dated Friday, February 26th. The shares were purchased at an average price of $159.48 per share, for a total transaction of $996,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.07% of the company’s stock.
Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, February 23rd. The home improvement retailer reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.21 by $0.12. The company had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.54 billion. Lowe’s Companies had a net margin of 6.29% and a return on equity of 211.33%. During the same quarter last year, the business earned $0.94 EPS. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 8.7 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 5th. Stockholders of record on Wednesday, April 21st will be given a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Tuesday, April 20th. Lowe’s Companies’s payout ratio is currently 41.96%.
A number of research firms have recently weighed in on LOW. Zelman & Associates raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, February 12th. Gordon Haskett raised shares of Lowe’s Companies from an “accumulate” rating to a “buy” rating and set a $202.00 price objective on the stock in a research report on Wednesday, March 3rd. Citigroup began coverage on shares of Lowe’s Companies in a research report on Monday, March 15th. They set a “buy” rating and a $195.00 price objective on the stock. Wells Fargo & Company increased their price objective on shares of Lowe’s Companies from $200.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 29th. They noted that the move was a valuation call. Finally, Telsey Advisory Group increased their price objective on shares of Lowe’s Companies from $190.00 to $215.00 and gave the company an “outperform” rating in a research report on Thursday, December 10th. Four research analysts have rated the stock with a hold rating and twenty-nine have given a buy rating to the company’s stock. Lowe’s Companies has a consensus rating of “Buy” and a consensus price target of $179.12.
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 appliances, dÃ©cor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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