Moloney Securities Asset Management LLC lowered its position in shares of Lowe's Companies, Inc. (NYSE:LOW) by 0.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,070 shares of the home improvement retailer’s stock after selling 76 shares during the period. Moloney Securities Asset Management LLC’s holdings in Lowe's Companies were worth $828,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in the stock. State Street Corp boosted its stake in shares of Lowe's Companies by 2.4% in the fourth quarter. State Street Corp now owns 42,279,456 shares of the home improvement retailer’s stock worth $3,006,918,000 after buying an additional 986,519 shares in the last quarter. Macquarie Group Ltd. boosted its stake in shares of Lowe's Companies by 3.5% in the fourth quarter. Macquarie Group Ltd. now owns 10,262,823 shares of the home improvement retailer’s stock worth $729,892,000 after buying an additional 349,148 shares in the last quarter. Norges Bank acquired a new stake in shares of Lowe's Companies during the fourth quarter worth approximately $556,574,000. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in shares of Lowe's Companies during the fourth quarter worth approximately $526,087,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in shares of Lowe's Companies during the third quarter worth approximately $435,695,000. 74.46% of the stock is owned by institutional investors and hedge funds.
Lowe's Companies, Inc. (NYSE:LOW) opened at 84.59 on Friday. Lowe's Companies, Inc. has a 52-week low of $64.87 and a 52-week high of $86.25. The firm’s 50-day moving average is $83.81 and its 200 day moving average is $76.67. The company has a market cap of $72.52 billion, a price-to-earnings ratio of 24.38 and a beta of 1.28.
Lowe's Companies (NYSE:LOW) last announced its earnings results on Wednesday, March 1st. The home improvement retailer reported $0.86 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.07. Lowe's Companies had a net margin of 3.91% and a return on equity of 46.46%. The company had revenue of $15.78 billion for the quarter, compared to analysts’ expectations of $15.39 billion. During the same quarter in the previous year, the company posted $0.59 EPS. The firm’s quarterly revenue was up 19.3% on a year-over-year basis. On average, equities research analysts predict that Lowe's Companies, Inc. will post $4.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, May 10th. Shareholders of record on Wednesday, April 26th were paid a dividend of $0.35 per share. The ex-dividend date was Monday, April 24th. This represents a $1.40 annualized dividend and a yield of 1.67%. Lowe's Companies’s dividend payout ratio (DPR) is presently 51.28%.
COPYRIGHT VIOLATION WARNING: This story was reported by sleekmoney and is the sole property of of sleekmoney. If you are accessing this story on another site, it was stolen and reposted in violation of US & international copyright legislation. The original version of this story can be read at https://sleekmoney.com/lowes-companies-inc-low-shares-sold-by-moloney-securities-asset-management-llc/1840338.html.
A number of equities analysts have weighed in on the stock. Credit Suisse Group AG set a $83.00 price target on shares of Lowe's Companies and gave the stock a “buy” rating in a research report on Saturday, February 18th. Wedbush reiterated a “neutral” rating and issued a $77.00 price target on shares of Lowe's Companies in a research report on Friday, February 10th. Royal Bank of Canada reiterated a “buy” rating and issued a $90.00 price target on shares of Lowe's Companies in a research report on Monday, April 3rd. BTIG Research reiterated a “buy” rating and issued a $95.00 price target (up from $90.00) on shares of Lowe's Companies in a research report on Friday. Finally, Zacks Investment Research upgraded shares of Lowe's Companies from a “hold” rating to a “buy” rating and set a $92.00 price target for the company in a research report on Tuesday, April 18th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the stock. Lowe's Companies currently has an average rating of “Hold” and a consensus price target of $85.14.
In other Lowe's Companies news, SVP Matthew V. Hollifield sold 9,299 shares of Lowe's Companies stock in a transaction on Friday, March 3rd. The shares were sold at an average price of $80.99, for a total transaction of $753,126.01. Following the sale, the senior vice president now owns 28,691 shares of the company’s stock, valued at approximately $2,323,684.09. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Nelson B. Peace sold 3,568 shares of Lowe's Companies stock in a transaction on Monday, March 6th. The stock was sold at an average price of $81.30, for a total transaction of $290,078.40. Following the sale, the insider now directly owns 5,860 shares in the company, valued at approximately $476,418. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 520,357 shares of company stock worth $42,207,226. 0.39% of the stock is currently owned by corporate insiders.
About Lowe's Companies
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe's Companies, Inc. (NYSE:LOW).
This story was originally published by sleekmoney (https://sleekmoney.com) and is the sole property of sleekmoney. If you are reading this article on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. You can view the original version of this story at https://sleekmoney.com/lowes-companies-inc-low-shares-sold-by-moloney-securities-asset-management-llc/1840338.html
Receive News & Ratings for Lowe's Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.