Chevy Chase Trust Holdings LLC lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 0.5% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 400,696 shares of the home improvement retailer’s stock after selling 2,113 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.06% of Lowe’s Companies worth $75,254,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of LOW. Investors Research Corp bought a new position in shares of Lowe’s Companies during the 2nd quarter worth approximately $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $27,000. Northwest Investment Counselors LLC increased its stake in shares of Lowe’s Companies by 56.0% during the 3rd quarter. Northwest Investment Counselors LLC now owns 142 shares of the home improvement retailer’s stock worth $27,000 after purchasing an additional 51 shares during the last quarter. Tsfg LLC increased its stake in shares of Lowe’s Companies by 67.9% during the 3rd quarter. Tsfg LLC now owns 220 shares of the home improvement retailer’s stock worth $41,000 after purchasing an additional 89 shares during the last quarter. Finally, Carolina Wealth Advisors LLC increased its stake in shares of Lowe’s Companies by 114.3% during the 2nd quarter. Carolina Wealth Advisors LLC now owns 240 shares of the home improvement retailer’s stock worth $42,000 after purchasing an additional 128 shares during the last quarter. Institutional investors own 72.62% of the company’s stock.
Insiders Place Their Bets
In other Lowe’s Companies news, EVP Ross W. Mccanless sold 57,629 shares of Lowe’s Companies stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $211.35, for a total value of $12,179,889.15. Following the completion of the transaction, the executive vice president now directly owns 26,923 shares of the company’s stock, valued at approximately $5,690,176.05. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.24% of the company’s stock.
Lowe’s Companies Trading Down 0.7 %
Lowe’s Companies (NYSE:LOW – Get Rating) last released its quarterly earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.16. The business had revenue of $23.48 billion for the quarter, compared to the consensus estimate of $23.16 billion. Lowe’s Companies had a net margin of 6.97% and a negative return on equity of 103.72%. The company’s quarterly revenue was up 2.4% on a year-over-year basis. During the same period last year, the firm earned $2.73 earnings per share. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 13.73 earnings per share for the current year.
Lowe’s Companies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Shareholders of record on Wednesday, January 25th will be paid a $1.05 dividend. The ex-dividend date of this dividend is Tuesday, January 24th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.05%. Lowe’s Companies’s payout ratio is currently 41.14%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Citigroup reduced their price objective on shares of Lowe’s Companies from $217.00 to $215.00 in a research note on Monday, October 31st. Wedbush upped their target price on Lowe’s Companies from $190.00 to $200.00 and gave the stock a “neutral” rating in a research note on Thursday, December 8th. Morgan Stanley decreased their target price on Lowe’s Companies from $270.00 to $235.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 17th. Telsey Advisory Group reduced their price objective on Lowe’s Companies to $250.00 in a research report on Monday, December 12th. Finally, Jefferies Financial Group increased their price objective on Lowe’s Companies from $255.00 to $259.00 and gave the company a “buy” rating in a research report on Monday, October 3rd. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $229.12.
About Lowe’s Companies
Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.
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