Ledyard National Bank decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 7.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,673 shares of the home improvement retailer’s stock after selling 4,460 shares during the quarter. Ledyard National Bank’s holdings in Lowe’s Companies were worth $6,095,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of LOW. CI Investments Inc. bought a new position in Lowe’s Companies during the third quarter valued at about $59,775,000. Somerset Trust Co grew its position in Lowe’s Companies by 2.6% during the fourth quarter. Somerset Trust Co now owns 31,709 shares of the home improvement retailer’s stock valued at $2,929,000 after buying an additional 814 shares during the period. F3Logic LLC bought a new position in Lowe’s Companies during the fourth quarter valued at about $2,135,000. Greatmark Investment Partners Inc. grew its position in Lowe’s Companies by 24.8% during the fourth quarter. Greatmark Investment Partners Inc. now owns 63,221 shares of the home improvement retailer’s stock valued at $5,839,000 after buying an additional 12,550 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund bought a new position in Lowe’s Companies during the fourth quarter valued at about $1,467,000. Hedge funds and other institutional investors own 75.65% of the company’s stock.
Several equities analysts recently weighed in on LOW shares. Wells Fargo & Co increased their price target on shares of Lowe’s Companies from $110.00 to $120.00 in a research report on Thursday, February 28th. ValuEngine raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Morgan Stanley set a $115.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Tuesday, March 19th. Citigroup upped their price objective on shares of Lowe’s Companies from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, April 1st. Finally, Barclays downgraded shares of Lowe’s Companies from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $120.00 to $105.00 in a report on Wednesday, January 9th. Eight investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $114.17.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, February 27th. The home improvement retailer reported $0.80 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.80. Lowe’s Companies had a net margin of 3.24% and a return on equity of 80.91%. The firm had revenue of $15.65 billion for the quarter, compared to the consensus estimate of $15.75 billion. During the same period in the prior year, the firm posted $0.74 earnings per share. The company’s revenue for the quarter was up 1.0% on a year-over-year basis. On average, analysts anticipate that Lowe’s Companies, Inc. will post 6.06 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be paid a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio is currently 37.35%.
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About Lowe’s Companies
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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