Everence Capital Management Inc. Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)


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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.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, February 23rd. The home improvement retailer reported $1.33 earnings per share for the quarter, beating analysts’ consensus estimates of $1.21 by $0.12. Lowe’s Companies had a return on equity of 211.33% and a net margin of 6.29%. The business had revenue of $20.31 billion for the quarter, compared to analysts’ expectations of $19.54 billion. During the same quarter in the prior year, the business earned $0.94 EPS. Equities analysts anticipate that Lowe’s Companies, Inc. will post 8.7 earnings per share for the current fiscal year.

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, décor, 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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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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