Huntington National Bank cut its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW – Get Rating) by 3.4% during the 3rd quarter, Holdings Channel reports. The firm owned 136,037 shares of the home improvement retailer's stock after selling 4,820 shares during the period. Huntington National Bank's holdings in Lowe's Companies were worth $25,549,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. Investors Research Corp bought a new position in shares of Lowe's Companies in the 2nd quarter valued at $26,000. Goodman Advisory Group LLC bought a new position in Lowe's Companies during the 2nd quarter worth $27,000. Northwest Investment Counselors LLC raised its position in shares of Lowe's Companies by 56.0% during the third quarter. Northwest Investment Counselors LLC now owns 142 shares of the home improvement retailer's stock worth $27,000 after acquiring an additional 51 shares during the last quarter. Tsfg LLC raised its holdings in Lowe's Companies by 67.9% during the 3rd quarter. Tsfg LLC now owns 220 shares of the home improvement retailer's stock worth $41,000 after purchasing an additional 89 shares during the last quarter. Finally, SJS Investment Consulting Inc. acquired a new position in Lowe's Companies in the third quarter valued at $43,000. 72.62% of the stock is owned by institutional investors and hedge funds.
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Lowe's Companies Stock Performance
Shares of Lowe's Companies stock traded up $0.62 during mid-day trading on Monday, hitting $203.11. 335,439 shares of the stock were exchanged, compared to its average volume of 2,805,439. Lowe's Companies, Inc. has a 12 month low of $170.12 and a 12 month high of $240.71. The company has a 50-day simple moving average of $205.69 and a 200 day simple moving average of $199.28. The company has a market capitalization of $126.07 billion, a P/E ratio of 19.83, a P/E/G ratio of 1.12 and a beta of 1.16.
Lowe's Companies (NYSE:LOW – Get Rating) last issued its quarterly earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 EPS for the quarter, beating analysts' consensus estimates of $3.11 by $0.16. Lowe's Companies had a negative return on equity of 103.72% and a net
margin of 6.97%. The company had revenue of $23.48 billion during the quarter, compared to the consensus estimate of $23.16 billion. During the same period last year, the business posted $2.73 earnings per share. Lowe's Companies's revenue was up 2.4% on a year-over-year basis. Analysts predict that Lowe's Companies, Inc. will post 13.73 EPS for the current year.
Lowe's Companies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be issued a $1.05 dividend. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Tuesday, January 24th. Lowe's Companies's dividend payout ratio (DPR) is currently 41.14%.
Analyst Upgrades and Downgrades
LOW has been the subject of several research analyst reports. The Goldman Sachs Group lifted their price objective on shares of Lowe's Companies from $241.00 to $246.00 and gave the company a "buy" rating in a research note on Wednesday, December 7th. Oppenheimer reiterated an "outperform" rating and set a $300.00 price objective on shares of Lowe's Companies in a report on Thursday, November 17th. Wedbush boosted their target price on Lowe's Companies from $190.00 to $200.00 and gave the company a "neutral" rating in a research report on Thursday, December 8th. BNP Paribas downgraded Lowe's Companies from a "neutral" rating to an "underperform" rating and set a $159.00 price target on the stock. in a research note on Wednesday, October 19th. Finally, Cowen started coverage on Lowe's Companies in a research note on Wednesday, October 19th. They issued a "market perform" rating and a $210.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Lowe's Companies has an average rating of "Moderate Buy" and a consensus price target of $229.12.
Insider Activity at Lowe's Companies
In other Lowe's Companies news, EVP Ross W. Mccanless sold 57,629 shares of Lowe's Companies stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $211.35, for a total value of $12,179,889.15. Following the sale, the executive vice president now owns 26,923 shares of the company's stock, valued at $5,690,176.05. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.24% of the stock is owned by company insiders.
Lowe's Companies Company Profile
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Lowe's Cos., Inc engages in the retail sale of home improvement products. The firm 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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