Everence Capital Management Inc. acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 1st quarter, Holdings Channel.com reports. The firm acquired 18,109 shares of the home improvement retailer’s stock, valued at approximately $3,444,000.
Other large investors have also recently made changes to their positions in the company. Tortoise Investment Management LLC raised its holdings in Lowe’s Companies by 208.0% during the 4th quarter. Tortoise Investment Management LLC now owns 154 shares of the home improvement retailer’s stock worth $25,000 after purchasing an additional 104 shares during the last quarter. RWM Asset Management LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $26,000. DB Wealth Management Group LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $31,000. Chiron Capital Management LLC bought a new stake in shares of Lowe’s Companies in the 3rd quarter valued at about $33,000. Finally, Perennial Advisors LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $32,000. 76.11% of the stock is owned by hedge funds and other institutional investors.
LOW traded up $0.80 during trading hours on Thursday, reaching $194.47. The company’s stock had a trading volume of 55,809 shares, compared to its average volume of 4,117,038. Lowe’s Companies, Inc. has a 52 week low of $90.59 and a 52 week high of $194.97. The company’s 50-day moving average is $175.20 and its 200-day moving average is $167.29. The company has a debt-to-equity ratio of 5.20, a quick ratio of 0.57 and a current ratio of 1.38. The firm has a market cap of $139.48 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 1.18 and a beta of 1.37.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 5th. Investors of record on Wednesday, April 21st will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 1.23%. The ex-dividend date is Tuesday, April 20th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 41.96%.
A number of brokerages have recently commented on LOW. Jefferies Financial Group upped their price target on Lowe’s Companies from $202.00 to $207.00 and gave the company a “buy” rating in a research note on Thursday, December 10th. Telsey Advisory Group upped their price target on Lowe’s Companies from $190.00 to $215.00 and gave the company an “outperform” rating in a research note on Thursday, December 10th. Zelman & Associates upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, February 12th. Gordon Haskett upgraded Lowe’s Companies from an “accumulate” rating to a “buy” rating and set a $202.00 price objective for the company in a research report on Wednesday, March 3rd. Finally, Citigroup initiated coverage on Lowe’s Companies in a research report on Monday, March 15th. They issued a “buy” rating and a $195.00 price objective for the company. Four equities research analysts have rated the stock with a hold rating and twenty-nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $179.12.
In other Lowe’s Companies news, Director David H. Batchelder purchased 6,250 shares of the company’s stock in a transaction that occurred on Friday, February 26th. The shares were acquired at an average price of $159.48 per share, for a total transaction of $996,750.00. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. 0.07% of the stock is currently owned by corporate insiders.
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 appliances, dÃ©cor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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