Virtus Fund Advisers LLC reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities Exchange Commission. The firm owned 47,686 shares of the home improvement retailer’s stock after selling 1,166 shares during the quarter. Virtus Fund Advisers LLC’s holdings in Lowe’s Companies were worth $4,432,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in Lowe’s Companies by 1.4% during the 2nd quarter. Vanguard Group Inc. now owns 64,769,014 shares of the home improvement retailer’s stock worth $5,021,542,000 after purchasing an additional 897,911 shares during the last quarter. Barrow Hanley Mewhinney Strauss LLC increased its stake in shares of Lowe’s Companies by 40.3% in the 3rd quarter. Barrow Hanley Mewhinney Strauss LLC now owns 15,144,020 shares of the home improvement retailer’s stock valued at $1,210,613,000 after acquiring an additional 4,351,830 shares in the last quarter. FMR LLC increased its stake in Lowe’s Companies by 62.6% during the 2nd quarter. FMR LLC now owns 9,694,439 shares of the home improvement retailer’s stock valued at $751,610,000 after purchasing an additional 3,732,153 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Lowe’s Companies by 0.7% during the 2nd quarter. Ameriprise Financial Inc. now owns 9,281,474 shares of the home improvement retailer’s stock valued at $719,560,000 after purchasing an additional 64,780 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its stake in Lowe’s Companies by 2.5% during the 4th quarter. Bank of New York Mellon Corp now owns 8,540,774 shares of the home improvement retailer’s stock valued at $793,780,000 after purchasing an additional 208,072 shares in the last quarter. 73.14% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Lowe’s Companies, Inc. (LOW) opened at $87.28 on Monday. The stock has a market capitalization of $72,420.00, a P/E ratio of 21.18, a P/E/G ratio of 0.92 and a beta of 1.30. Lowe’s Companies, Inc. has a 12 month low of $70.76 and a 12 month high of $108.98. The company has a debt-to-equity ratio of 2.65, a quick ratio of 0.11 and a current ratio of 1.06.
Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 28th. The home improvement retailer reported $0.74 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.87 by ($0.13). Lowe’s Companies had a return on equity of 65.17% and a net margin of 5.02%. The firm had revenue of $15.49 billion during the quarter, compared to the consensus estimate of $15.34 billion. During the same period in the previous year, the firm earned $0.86 EPS. The business’s revenue was down 1.8% compared to the same quarter last year. equities analysts forecast that Lowe’s Companies, Inc. will post 5.47 earnings per share for the current fiscal year.
Lowe’s Companies announced that its board has initiated a share buyback program on Friday, January 26th that permits the company to repurchase $5.00 billion in outstanding shares. This repurchase authorization permits the home improvement retailer to buy shares of its stock through open market purchases. Shares repurchase programs are often an indication that the company’s board of directors believes its stock is undervalued.
A number of equities analysts have issued reports on the stock. Stifel Nicolaus reaffirmed a “buy” rating and set a $103.00 price objective on shares of Lowe’s Companies in a report on Friday, December 22nd. JPMorgan Chase Co. reissued a “neutral” rating and issued a $100.00 price target on shares of Lowe’s Companies in a report on Tuesday, March 6th. Wedbush reaffirmed a “hold” rating and set a $80.00 price objective (down from $85.00) on shares of Lowe’s Companies in a report on Thursday, March 1st. Zacks Investment Research downgraded shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, March 6th. Finally, Loop Capital began coverage on shares of Lowe’s Companies in a research report on Thursday, March 1st. They issued a “hold” rating and a $88.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and twenty-two have given a buy rating to the stock. Lowe’s Companies presently has an average rating of “Buy” and a consensus price target of $97.93.
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Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.
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