Tiedemann Advisors LLC raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 9.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 3,761 shares of the home improvement retailer’s stock after purchasing an additional 332 shares during the period. Tiedemann Advisors LLC’s holdings in Lowe’s Companies were worth $379,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tdam USA Inc. lifted its position in shares of Lowe’s Companies by 9.5% in the 1st quarter. Tdam USA Inc. now owns 8,719 shares of the home improvement retailer’s stock worth $954,000 after purchasing an additional 760 shares during the period. Cadence Bank NA increased its stake in shares of Lowe’s Companies by 0.5% in the 1st quarter. Cadence Bank NA now owns 23,458 shares of the home improvement retailer’s stock valued at $2,568,000 after acquiring an additional 112 shares in the last quarter. JNBA Financial Advisors bought a new stake in shares of Lowe’s Companies in the 2nd quarter valued at $40,000. Carnick & Kubik Group LLC increased its stake in shares of Lowe’s Companies by 1.5% in the 2nd quarter. Carnick & Kubik Group LLC now owns 20,915 shares of the home improvement retailer’s stock valued at $2,111,000 after acquiring an additional 310 shares in the last quarter. Finally, Moseley Investment Management Inc. bought a new stake in shares of Lowe’s Companies in the 1st quarter valued at $360,000. Hedge funds and other institutional investors own 76.92% of the company’s stock.
Several analysts have recently weighed in on the stock. Wedbush reiterated a “neutral” rating and issued a $115.00 price objective (up previously from $105.00) on shares of Lowe’s Companies in a research note on Thursday, August 22nd. Wells Fargo & Co reiterated an “outperform” rating and issued a $125.00 price objective (up previously from $110.00) on shares of Lowe’s Companies in a research note on Thursday, August 22nd. Robert W. Baird set a $127.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, August 21st. SunTrust Banks reiterated a “buy” rating and issued a $120.00 price objective on shares of Lowe’s Companies in a research note on Friday, May 24th. Finally, Jefferies Financial Group set a $125.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Monday, August 26th. Nine investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $116.82.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.15. The business had revenue of $20.99 billion during the quarter, compared to analyst estimates of $20.96 billion. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. Lowe’s Companies’s quarterly revenue was up .5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.07 EPS. Analysts forecast that Lowe’s Companies, Inc. will post 5.65 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $2.20 dividend on an annualized basis and a yield of 1.94%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 42.80%.
In other Lowe’s Companies news, EVP Donald Frieson purchased 2,030 shares of the firm’s stock in a transaction on Wednesday, June 19th. The stock was acquired at an average price of $98.69 per share, for a total transaction of $200,340.70. Following the purchase, the executive vice president now owns 10,980 shares of the company’s stock, valued at approximately $1,083,616.20. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.
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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