Harfst & Associates Inc. decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 9.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 4,954 shares of the home improvement retailer’s stock after selling 492 shares during the period. Harfst & Associates Inc.’s holdings in Lowe’s Companies were worth $960,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of LOW. RE Advisers Corp acquired a new stake in Lowe’s Companies in the 2nd quarter valued at approximately $29,000. Burleson & Company LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth approximately $33,000. USA Financial Portformulas Corp grew its holdings in shares of Lowe’s Companies by 1,505.6% during the 2nd quarter. USA Financial Portformulas Corp now owns 289 shares of the home improvement retailer’s stock worth $56,000 after purchasing an additional 271 shares in the last quarter. Twin Lakes Capital Management LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth approximately $57,000. Finally, MV Capital Management Inc. grew its holdings in shares of Lowe’s Companies by 36.6% during the 2nd quarter. MV Capital Management Inc. now owns 332 shares of the home improvement retailer’s stock worth $64,000 after purchasing an additional 89 shares in the last quarter. 72.80% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently commented on LOW. OTR Global downgraded Lowe’s Companies to a “positive” rating in a research report on Tuesday, August 10th. TheStreet downgraded Lowe’s Companies from a “b” rating to a “c+” rating in a research report on Wednesday, August 18th. Zacks Investment Research downgraded Lowe’s Companies from a “hold” rating to a “sell” rating and set a $205.00 target price for the company. in a research report on Wednesday, July 28th. Morgan Stanley lifted their price objective on Lowe’s Companies from $230.00 to $240.00 and gave the company an “overweight” rating in a research report on Tuesday, August 31st. Finally, Credit Suisse Group lifted their price objective on Lowe’s Companies from $208.00 to $220.00 and gave the company an “outperform” rating in a research report on Thursday, August 19th. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $216.26.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 17th. The home improvement retailer reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. Lowe’s Companies had a return on equity of 541.39% and a net margin of 7.41%. The business had revenue of $27.57 billion during the quarter, compared to analysts’ expectations of $26.76 billion. During the same period in the previous year, the firm earned $3.75 earnings per share. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. Analysts expect that Lowe’s Companies, Inc. will post 11.26 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 3rd. Shareholders of record on Wednesday, October 20th will be paid a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, October 19th. This represents a $3.20 dividend on an annualized basis and a yield of 1.56%. Lowe’s Companies’s payout ratio is 36.12%.
Lowe’s Companies Company Profile
Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, 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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