M&R Capital Management Inc. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 89,765 shares of the home improvement retailer’s stock after selling 629 shares during the period. Lowe’s Companies accounts for 3.7% of M&R Capital Management Inc.’s holdings, making the stock its 3rd biggest holding. M&R Capital Management Inc.’s holdings in Lowe’s Companies were worth $14,862,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Lowe’s Companies in the 2nd quarter worth approximately $26,000. PrairieView Partners LLC purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $26,000. CBIZ Investment Advisory Services LLC raised its holdings in shares of Lowe’s Companies by 745.0% during the 1st quarter. CBIZ Investment Advisory Services LLC now owns 338 shares of the home improvement retailer’s stock worth $29,000 after acquiring an additional 298 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Lowe’s Companies during the 1st quarter worth approximately $29,000. Finally, Financial Management Professionals Inc. purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $32,000. 74.63% of the stock is currently owned by institutional investors.
Several analysts have recently issued reports on the company. DA Davidson upped their price objective on Lowe’s Companies from $180.00 to $185.00 in a report on Thursday, August 20th. Truist Financial upped their price objective on Lowe’s Companies from $135.00 to $178.00 and gave the stock a “buy” rating in a report on Wednesday, August 12th. Barclays upped their price objective on Lowe’s Companies from $150.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Guggenheim upped their price objective on Lowe’s Companies from $135.00 to $175.00 in a report on Thursday, August 20th. Finally, Telsey Advisory Group upped their price objective on Lowe’s Companies from $175.00 to $185.00 and gave the stock an “outperform” rating in a report on Thursday, August 20th. Three research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $167.31.
Shares of NYSE:LOW traded up $1.31 during trading on Thursday, hitting $167.17. The stock had a trading volume of 2,676,172 shares, compared to its average volume of 5,223,196. Lowe’s Companies, Inc. has a 12-month low of $60.00 and a 12-month high of $171.72. The stock has a market capitalization of $126.34 billion, a price-to-earnings ratio of 22.24, a price-to-earnings-growth ratio of 1.21 and a beta of 1.50. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 4.64. The stock has a 50-day simple moving average of $160.88 and a two-hundred day simple moving average of $128.15.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.95 by $0.80. Lowe’s Companies had a return on equity of 228.17% and a net margin of 7.12%. The firm had revenue of $27.30 billion during the quarter, compared to analysts’ expectations of $24.24 billion. During the same period last year, the business posted $2.15 earnings per share. The company’s revenue for the quarter was up 30.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 8.39 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Wednesday, October 21st will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 1.44%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, October 20th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.46%.
Lowe’s Companies 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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