Nuveen Asset Management LLC increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,351,287 shares of the home improvement retailer’s stock after buying an additional 181,285 shares during the period. Nuveen Asset Management LLC owned about 1.11% of Lowe’s Companies worth $1,128,426,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Fred Alger Management LLC boosted its stake in shares of Lowe’s Companies by 967.2% during the 1st quarter. Fred Alger Management LLC now owns 1,891,030 shares of the home improvement retailer’s stock valued at $162,723,000 after buying an additional 1,713,842 shares during the last quarter. Man Group plc grew its stake in shares of Lowe’s Companies by 4,527.7% during the second quarter. Man Group plc now owns 1,685,416 shares of the home improvement retailer’s stock worth $227,734,000 after purchasing an additional 1,648,996 shares during the period. Franklin Resources Inc. grew its stake in Lowe’s Companies by 57.1% in the first quarter. Franklin Resources Inc. now owns 4,092,618 shares of the home improvement retailer’s stock valued at $352,169,000 after acquiring an additional 1,486,994 shares during the period. AQR Capital Management LLC grew its stake in Lowe’s Companies by 272.8% in the second quarter. AQR Capital Management LLC now owns 1,953,990 shares of the home improvement retailer’s stock valued at $262,148,000 after acquiring an additional 1,429,911 shares during the period. Finally, Viking Global Investors LP boosted its position in shares of Lowe’s Companies by 23.6% during the first quarter. Viking Global Investors LP now owns 5,470,144 shares of the home improvement retailer’s stock worth $470,706,000 after buying an additional 1,045,758 shares during the period. 74.63% of the stock is owned by hedge funds and other institutional investors.
LOW has been the topic of a number of recent research reports. Loop Capital increased their target price on Lowe’s Companies from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Bank of America raised their target price on Lowe’s Companies from $176.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, August 20th. Wells Fargo & Company boosted their target price on Lowe’s Companies from $165.00 to $180.00 and gave the stock an “overweight” rating in a research note on Tuesday, August 11th. Longbow Research boosted their target price on shares of Lowe’s Companies from $130.00 to $150.00 and gave the company a “buy” rating in a report on Friday, May 22nd. Finally, SunTrust Banks upped their target price on shares of Lowe’s Companies from $115.00 to $135.00 and gave the stock a “buy” rating in a research report on Thursday, May 21st. Three investment analysts have rated the stock with a hold rating, thirty have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $165.75.
NYSE:LOW traded up $3.66 during trading hours on Tuesday, reaching $168.85. The company’s stock had a trading volume of 235,191 shares, compared to its average volume of 5,345,021. The stock has a 50 day moving average price of $156.93 and a two-hundred day moving average price of $124.01. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.65 and a current ratio of 1.30. Lowe’s Companies, Inc. has a 12 month low of $60.00 and a 12 month high of $171.32. The company has a market capitalization of $124.84 billion, a P/E ratio of 22.56, a price-to-earnings-growth ratio of 1.19 and a beta of 1.50.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share for the quarter, topping the consensus estimate of $2.95 by $0.80. Lowe’s Companies had a net margin of 7.12% and a return on equity of 228.17%. The firm had revenue of $27.30 billion during the quarter, compared to the consensus estimate of $24.24 billion. During the same quarter in the prior year, the firm earned $2.15 EPS. The company’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, analysts predict that Lowe’s Companies, Inc. will post 8.39 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Wednesday, October 21st will be issued a $0.60 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, October 20th. This represents a $2.40 annualized dividend and a dividend yield of 1.42%. Lowe’s Companies’s payout ratio is presently 38.46%.
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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