Mercer Global Advisors Inc. ADV Buys New Position in Lowe’s Companies, Inc. (LOW)

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Mercer Global Advisors Inc. ADV bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 21,951 shares of the home improvement retailer’s stock, valued at approximately $2,027,000.

A number of other hedge funds also recently modified their holdings of LOW. Oregon Public Employees Retirement Fund boosted its stake in Lowe’s Companies by 8,621.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 17,673,178 shares of the home improvement retailer’s stock valued at $191,000 after acquiring an additional 17,470,536 shares during the period. Lunia Capital LP boosted its stake in Lowe’s Companies by 18,944.2% in the fourth quarter. Lunia Capital LP now owns 15,741,007 shares of the home improvement retailer’s stock valued at $15,741,000 after acquiring an additional 15,658,352 shares during the period. Norges Bank acquired a new position in Lowe’s Companies in the fourth quarter valued at approximately $734,285,000. FMR LLC boosted its stake in Lowe’s Companies by 9.2% in the fourth quarter. FMR LLC now owns 23,893,923 shares of the home improvement retailer’s stock valued at $2,206,843,000 after acquiring an additional 2,014,183 shares during the period. Finally, AQR Capital Management LLC boosted its stake in Lowe’s Companies by 50.0% in the third quarter. AQR Capital Management LLC now owns 2,641,814 shares of the home improvement retailer’s stock valued at $303,333,000 after acquiring an additional 880,253 shares during the period. Institutional investors own 75.65% of the company’s stock.

A number of brokerages have commented on LOW. Citigroup lifted their target price on Lowe’s Companies from $125.00 to $127.00 and gave the company a “buy” rating in a research note on Monday, April 1st. Morgan Stanley lifted their target price on Lowe’s Companies from $110.00 to $115.00 and gave the company an “overweight” rating in a research note on Thursday, February 28th. Wedbush lifted their target price on Lowe’s Companies from $95.00 to $110.00 and gave the company a “neutral” rating in a research note on Thursday, February 28th. ValuEngine upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Thursday, February 28th. Finally, Robert W. Baird lifted their target price on Lowe’s Companies from $120.00 to $126.00 and gave the company an “outperform” rating in a research note on Wednesday, February 27th. Eight equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Lowe’s Companies has an average rating of “Buy” and an average price target of $114.17.

LOW opened at $116.26 on Monday. The company has a market cap of $91.63 billion, a PE ratio of 22.62, a price-to-earnings-growth ratio of 1.34 and a beta of 1.27. The company has a current ratio of 0.98, a quick ratio of 0.11 and a debt-to-equity ratio of 3.95. Lowe’s Companies, Inc. has a twelve month low of $81.16 and a twelve month high of $117.70.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, February 27th. The home improvement retailer reported $0.80 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.80. The company had revenue of $15.65 billion for the quarter, compared to analysts’ expectations of $15.75 billion. Lowe’s Companies had a return on equity of 80.91% and a net margin of 3.24%. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 earnings per share. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 6.06 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th will be issued a dividend of $0.48 per share. The ex-dividend date is Tuesday, April 23rd. This represents a $1.92 annualized dividend and a yield of 1.65%. Lowe’s Companies’s payout ratio is 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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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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