Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by AdvisorNet Financial Inc

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AdvisorNet Financial Inc boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,343 shares of the home improvement retailer’s stock after purchasing an additional 397 shares during the period. AdvisorNet Financial Inc’s holdings in Lowe’s Companies were worth $1,044,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Advisors Preferred LLC purchased a new stake in Lowe’s Companies in the first quarter worth $26,000. Icon Wealth Partners LLC purchased a new stake in Lowe’s Companies in the first quarter worth $26,000. Weaver Consulting Group purchased a new stake in Lowe’s Companies in the first quarter worth $28,000. Prime Capital Investment Advisors LLC purchased a new stake in shares of Lowe’s Companies in the first quarter worth $33,000. Finally, Thor Advisors LLC purchased a new stake in shares of Lowe’s Companies in the first quarter worth $35,000. 76.36% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:LOW opened at $93.38 on Friday. Lowe’s Companies, Inc. has a 1 year low of $84.75 and a 1 year high of $118.23. The stock’s fifty day moving average price is $101.94 and its 200-day moving average price is $103.75. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.09 and a quick ratio of 0.24. The company has a market cap of $73.34 billion, a P/E ratio of 18.17, a PEG ratio of 1.25 and a beta of 1.36.

Lowe’s Companies (NYSE:LOW) last posted its 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). Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The firm had revenue of $17.74 billion during the quarter, compared to the consensus estimate of $17.65 billion. During the same period in the prior year, the company posted $1.19 EPS. The firm’s revenue was up 2.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 5.59 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th were given a dividend of $0.55 per share. The ex-dividend date was Tuesday, July 23rd. This represents a $2.20 annualized dividend and a dividend yield of 2.36%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.48. Lowe’s Companies’s dividend payout ratio (DPR) is currently 42.80%.

LOW has been the topic of a number of recent research reports. Barclays increased their target price on Lowe’s Companies from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research note on Monday, June 24th. Cfra reissued a “hold” rating and issued a $105.00 target price on shares of Lowe’s Companies in a research note on Friday, June 14th. Robert W. Baird reissued an “outperform” rating and issued a $127.00 target price (down from $133.00) on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. SunTrust Banks reissued a “buy” rating and issued a $120.00 target price on shares of Lowe’s Companies in a research note on Friday, May 24th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Lowe’s Companies in a research note on Friday, May 10th. Ten equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $112.88.

In other news, insider Marvin R. Ellison bought 10,000 shares of the firm’s stock in a transaction on Friday, May 24th. The stock was acquired at an average cost of $95.05 per share, with a total value of $950,500.00. Following the transaction, the insider now directly owns 80,090 shares in the company, valued at approximately $7,612,554.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald Frieson purchased 2,030 shares of the business’s stock in a transaction dated Wednesday, June 19th. The stock was bought at an average price of $98.69 per share, for a total transaction of $200,340.70. Following the completion of the acquisition, the executive vice president now directly owns 10,980 shares in the company, valued at approximately $1,083,616.20. The disclosure for this purchase can be found here. Insiders have purchased 12,280 shares of company stock valued at $1,174,566 in the last quarter. 0.07% of the stock is currently owned by company insiders.

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

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