Westpac Banking Corp grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,786 shares of the home improvement retailer’s stock after acquiring an additional 1,338 shares during the period. Westpac Banking Corp’s holdings in Lowe’s Companies were worth $7,324,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Dupont Capital Management Corp raised its holdings in shares of Lowe’s Companies by 39.4% in the second quarter. Dupont Capital Management Corp now owns 8,601 shares of the home improvement retailer’s stock worth $822,000 after acquiring an additional 2,429 shares during the last quarter. State of New Jersey Common Pension Fund D raised its holdings in shares of Lowe’s Companies by 700.0% in the second quarter. State of New Jersey Common Pension Fund D now owns 40,000 shares of the home improvement retailer’s stock worth $3,823,000 after acquiring an additional 35,000 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in shares of Lowe’s Companies by 10.4% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 201,020 shares of the home improvement retailer’s stock worth $19,211,000 after acquiring an additional 18,941 shares during the last quarter. Allen Investment Management LLC raised its holdings in shares of Lowe’s Companies by 4.3% in the second quarter. Allen Investment Management LLC now owns 1,051,886 shares of the home improvement retailer’s stock worth $100,529,000 after acquiring an additional 43,105 shares during the last quarter. Finally, Tdam USA Inc. raised its holdings in shares of Lowe’s Companies by 6.9% in the second quarter. Tdam USA Inc. now owns 7,850 shares of the home improvement retailer’s stock worth $750,000 after acquiring an additional 504 shares during the last quarter. Institutional investors own 74.34% of the company’s stock.
In related news, Director Brian C. Rogers bought 10,000 shares of the firm’s stock in a transaction dated Friday, November 23rd. The stock was bought at an average price of $88.02 per share, with a total value of $880,200.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at $880,200. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.30% of the stock is currently owned by insiders.
LOW stock traded down $1.52 during trading on Friday, reaching $87.64. 8,070,200 shares of the stock traded hands, compared to its average volume of 5,757,082. Lowe’s Companies, Inc. has a 52-week low of $81.16 and a 52-week high of $117.70. The company has a current ratio of 1.00, a quick ratio of 0.18 and a debt-to-equity ratio of 2.68. The company has a market cap of $72.53 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 1.25 and a beta of 1.55.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, November 20th. The home improvement retailer reported $1.04 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.98 by $0.06. Lowe’s Companies had a return on equity of 72.47% and a net margin of 5.19%. The firm had revenue of $17.42 billion during the quarter, compared to the consensus estimate of $17.36 billion. During the same quarter in the previous year, the business earned $1.05 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. Equities analysts forecast that Lowe’s Companies, Inc. will post 5.11 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 6th. Shareholders of record on Wednesday, January 23rd will be given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 2.19%. The ex-dividend date of this dividend is Tuesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.74%.
LOW has been the subject of a number of analyst reports. SunTrust Banks raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target for the company in a report on Friday, September 28th. Morgan Stanley upped their target price on Lowe’s Companies from $115.00 to $125.00 and gave the company an “overweight” rating in a research note on Thursday, October 11th. Deutsche Bank set a $101.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, November 21st. Credit Suisse Group set a $111.00 target price on Lowe’s Companies and gave the company a “hold” rating in a research note on Tuesday, November 20th. Finally, Loop Capital set a $125.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, November 21st. Ten analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $111.92.
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Lowe’s Companies Profile
Lowe’s Cos., Inc engages in the retail sale of home improvement products. It offers products for maintenance, repair, remodeling, home decorating, and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows, and doors.
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