Wambolt & Associates LLC boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 15.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,428 shares of the home improvement retailer’s stock after purchasing an additional 609 shares during the quarter. Wambolt & Associates LLC’s holdings in Lowe’s Companies were worth $447,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently modified their holdings of the stock. Tdam USA Inc. boosted its holdings in Lowe’s Companies by 9.5% in the first quarter. Tdam USA Inc. now owns 8,719 shares of the home improvement retailer’s stock worth $954,000 after acquiring an additional 760 shares in the last quarter. Cadence Bank NA boosted its holdings in Lowe’s Companies by 0.5% in the first quarter. Cadence Bank NA now owns 23,458 shares of the home improvement retailer’s stock worth $2,568,000 after acquiring an additional 112 shares in the last quarter. Moseley Investment Management Inc. acquired a new stake in Lowe’s Companies in the first quarter worth about $360,000. Wheatland Advisors Inc. acquired a new stake in Lowe’s Companies in the first quarter worth about $1,546,000. Finally, Comerica Securities Inc. boosted its holdings in Lowe’s Companies by 6.3% in the fourth quarter. Comerica Securities Inc. now owns 13,753 shares of the home improvement retailer’s stock worth $1,270,000 after acquiring an additional 818 shares in the last quarter. 76.67% of the stock is currently owned by institutional investors.
LOW stock traded down $0.63 during trading on Wednesday, hitting $97.29. 174,709 shares of the company traded hands, compared to its average volume of 4,538,947. The stock’s 50-day moving average is $102.42. The company has a current ratio of 1.09, a quick ratio of 0.24 and a debt-to-equity ratio of 6.37. The firm has a market capitalization of $76.12 billion, a P/E ratio of 18.94, a PEG ratio of 1.29 and a beta of 1.36. Lowe’s Companies, Inc. has a 1 year low of $84.75 and a 1 year high of $118.23.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, July 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.48. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.26%. Lowe’s Companies’s payout ratio is 42.80%.
In other Lowe’s Companies news, EVP Donald Frieson acquired 2,030 shares of the business’s stock in a transaction dated Wednesday, June 19th. The stock was acquired at an average cost of $98.69 per share, for a total transaction of $200,340.70. Following the completion of the transaction, the executive vice president now directly owns 10,980 shares of the company’s stock, valued at $1,083,616.20. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Marvin R. Ellison acquired 10,000 shares of the business’s stock in a transaction dated Friday, May 24th. The stock was acquired at an average price of $95.05 per share, with a total value of $950,500.00. Following the completion of the transaction, the insider now directly owns 80,090 shares of the company’s stock, valued at $7,612,554.50. The disclosure for this purchase can be found here. Insiders bought 12,280 shares of company stock valued at $1,174,566 over the last 90 days. Company insiders own 0.07% of the company’s stock.
Several equities research analysts have weighed in on the company. Barclays raised their price target on Lowe’s Companies from $95.00 to $105.00 and gave the stock an “equal weight” rating in a report on Monday, June 24th. Bank of America set a $135.00 price target on Lowe’s Companies and gave the stock a “buy” rating in a report on Monday, May 27th. Gabelli reissued a “buy” rating on shares of Lowe’s Companies in a report on Thursday, May 23rd. Wells Fargo & Co reissued a “buy” rating on shares of Lowe’s Companies in a report on Friday, May 10th. Finally, Goldman Sachs Group began coverage on Lowe’s Companies in a report on Thursday, July 11th. They issued a “buy” rating and a $119.00 price target for the company. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Lowe’s Companies currently has an average rating of “Buy” and an average target price of $112.88.
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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