Fairfield Bush & CO. Decreases Stake in Lowe’s (LOW)

Fairfield Bush & CO. lessened its position in shares of Lowe’s (NYSE:LOW) by 13.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 130,412 shares of the home improvement retailer’s stock after selling 19,578 shares during the quarter. Lowe’s makes up about 3.3% of Fairfield Bush & CO.’s investment portfolio, making the stock its 5th largest position. Fairfield Bush & CO.’s holdings in Lowe’s were worth $11,444,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. TCI Wealth Advisors Inc. boosted its stake in Lowe’s by 10.6% in the 4th quarter. TCI Wealth Advisors Inc. now owns 5,021 shares of the home improvement retailer’s stock valued at $467,000 after buying an additional 483 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. boosted its stake in Lowe’s by 50.0% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 1,500 shares of the home improvement retailer’s stock valued at $139,000 after buying an additional 500 shares in the last quarter. Barnett & Company Inc. boosted its stake in Lowe’s by 13.6% in the 4th quarter. Barnett & Company Inc. now owns 4,183 shares of the home improvement retailer’s stock valued at $389,000 after buying an additional 500 shares in the last quarter. River Wealth Advisors LLC boosted its stake in Lowe’s by 2.7% in the 4th quarter. River Wealth Advisors LLC now owns 19,529 shares of the home improvement retailer’s stock valued at $1,815,000 after buying an additional 514 shares in the last quarter. Finally, Good Life Advisors LLC boosted its stake in Lowe’s by 13.8% in the 4th quarter. Good Life Advisors LLC now owns 4,341 shares of the home improvement retailer’s stock valued at $407,000 after buying an additional 528 shares in the last quarter. 72.83% of the stock is currently owned by institutional investors.

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A number of equities analysts have commented on the company. Morgan Stanley set a $115.00 price objective on Lowe’s and gave the stock a “buy” rating in a research note on Monday, January 22nd. Stifel Nicolaus reissued a “buy” rating and issued a $105.00 price objective on shares of Lowe’s in a research note on Thursday, March 1st. Deutsche Bank set a $107.00 price objective on Lowe’s and gave the stock a “buy” rating in a research note on Thursday, March 1st. Jefferies Group raised Lowe’s from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $81.00 to $129.00 in a research note on Monday, February 5th. Finally, Zacks Investment Research raised Lowe’s from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Friday, February 2nd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and twenty-four have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $99.00.

Lowe’s opened at $87.39 on Tuesday, according to Marketbeat. The stock has a market capitalization of $71.66 billion, a P/E ratio of 19.91, a P/E/G ratio of 0.91 and a beta of 1.33. The company has a quick ratio of 0.11, a current ratio of 1.06 and a debt-to-equity ratio of 2.65. Lowe’s has a 12 month low of $70.76 and a 12 month high of $108.98.

Lowe’s (NYSE:LOW) last released its quarterly earnings data on Wednesday, February 28th. The home improvement retailer reported $0.74 EPS for the quarter, missing analysts’ consensus estimates of $0.87 by ($0.13). The company had revenue of $15.49 billion during the quarter, compared to the consensus estimate of $15.34 billion. Lowe’s had a net margin of 5.02% and a return on equity of 65.17%. The company’s revenue for the quarter was down 1.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 EPS. equities research analysts predict that Lowe’s will post 5.46 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 9th. Investors of record on Wednesday, April 25th were issued a $0.41 dividend. The ex-dividend date of this dividend was Tuesday, April 24th. This represents a $1.64 dividend on an annualized basis and a yield of 1.88%. Lowe’s’s dividend payout ratio is presently 37.36%.

Lowe’s announced that its board has approved a share repurchase plan on Friday, January 26th that authorizes the company to repurchase $5.00 billion in shares. This repurchase authorization authorizes the home improvement retailer to buy shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s management believes its stock is undervalued.

About Lowe’s

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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

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