Mechanics Bank Trust Department acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm acquired 2,172 shares of the home improvement retailer’s stock, valued at approximately $238,000.
Several other hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. lifted its stake in shares of Lowe’s Companies by 0.7% in the fourth quarter. BlackRock Inc. now owns 53,503,078 shares of the home improvement retailer’s stock worth $4,941,544,000 after buying an additional 371,008 shares during the last quarter. FMR LLC lifted its stake in shares of Lowe’s Companies by 9.2% in the fourth quarter. FMR LLC now owns 23,893,923 shares of the home improvement retailer’s stock worth $2,206,843,000 after buying an additional 2,014,183 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Lowe’s Companies by 8,621.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 17,673,178 shares of the home improvement retailer’s stock valued at $191,000 after purchasing an additional 17,470,536 shares during the last quarter. Lunia Capital LP raised its stake in Lowe’s Companies by 18,944.2% during the 4th quarter. Lunia Capital LP now owns 15,741,007 shares of the home improvement retailer’s stock valued at $15,741,000 after purchasing an additional 15,658,352 shares during the last quarter. Finally, Barrow Hanley Mewhinney & Strauss LLC increased its holdings in Lowe’s Companies by 1.3% in the 4th quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 14,171,980 shares of the home improvement retailer’s stock valued at $1,308,924,000 after buying an additional 182,823 shares during the period. Institutional investors own 76.66% of the company’s stock.
Lowe’s Companies stock traded down $13.16 during trading hours on Wednesday, reaching $97.94. 22,711,709 shares of the company’s stock traded hands, compared to its average volume of 4,617,458. The company has a current ratio of 0.98, a quick ratio of 0.11 and a debt-to-equity ratio of 3.95. Lowe’s Companies, Inc. has a fifty-two week low of $84.75 and a fifty-two week high of $118.23. The company has a market cap of $86.74 billion, a PE ratio of 19.05, a PEG ratio of 1.27 and a beta of 1.26.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.11). The firm had revenue of $17.74 billion during the quarter, compared to analyst estimates of $17.65 billion. Lowe’s Companies had a net margin of 3.24% and a return on equity of 80.91%. The business’s revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.19 earnings per share. Research analysts forecast that Lowe’s Companies, Inc. will post 6.05 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 8th. Investors of record on Wednesday, April 24th were given a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, April 23rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.96%. Lowe’s Companies’s dividend payout ratio is 37.35%.
Several equities research analysts have issued reports on LOW shares. Wells Fargo & Co boosted their price target on shares of Lowe’s Companies from $110.00 to $120.00 in a report on Thursday, February 28th. Citigroup boosted their price target on shares of Lowe’s Companies from $125.00 to $127.00 and gave the company a “buy” rating in a report on Monday, April 1st. Morgan Stanley set a $115.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Tuesday, March 19th. ValuEngine raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, February 28th. Finally, Loop Capital lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Wednesday, January 23rd. Eight research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $114.57.
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Lowe’s Companies Company Profile
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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