Todd Asset Management LLC Makes New $13.88 Million Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Share on StockTwits

Todd Asset Management LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 137,559 shares of the home improvement retailer’s stock, valued at approximately $13,881,000.

Several other large investors have also made changes to their positions in the business. GSA Capital Partners LLP acquired a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $687,000. Cynosure Management LLC acquired a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $212,000. W.G. Shaheen & Associates DBA Whitney & Co boosted its position in shares of Lowe’s Companies by 0.6% during the 2nd quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 69,650 shares of the home improvement retailer’s stock worth $7,028,000 after acquiring an additional 415 shares in the last quarter. Alphinity Investment Management Pty Ltd boosted its position in shares of Lowe’s Companies by 22.9% during the 2nd quarter. Alphinity Investment Management Pty Ltd now owns 296,795 shares of the home improvement retailer’s stock worth $29,950,000 after acquiring an additional 55,219 shares in the last quarter. Finally, Westhampton Capital LLC acquired a new stake in Lowe’s Companies in the second quarter valued at approximately $646,000. Hedge funds and other institutional investors own 75.85% of the company’s stock.

NYSE:LOW traded down $1.77 during trading hours on Friday, reaching $106.39. The company had a trading volume of 4,698,442 shares, compared to its average volume of 5,769,456. The company has a quick ratio of 0.24, a current ratio of 1.06 and a debt-to-equity ratio of 7.80. The firm has a market cap of $84.68 billion, a price-to-earnings ratio of 20.70, a P/E/G ratio of 1.41 and a beta of 1.36. The business’s 50-day simple moving average is $101.70 and its two-hundred day simple moving average is $103.74. Lowe’s Companies, Inc. has a twelve month low of $84.75 and a twelve month high of $118.23.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. The business had revenue of $20.99 billion during the quarter, compared to analysts’ expectations of $20.96 billion. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The business’s quarterly revenue was up .5% on a year-over-year basis. During the same period last year, the company posted $2.07 earnings per share. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 5.65 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 2.07%. The ex-dividend date is Tuesday, October 22nd. Lowe’s Companies’s payout ratio is 42.80%.

A number of brokerages have weighed in on LOW. Gabelli restated a “buy” rating on shares of Lowe’s Companies in a research report on Thursday, May 23rd. Zacks Investment Research upgraded shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Morgan Stanley raised their target price on shares of Lowe’s Companies from $123.00 to $130.00 and gave the company an “overweight” rating in a research report on Thursday. Wells Fargo & Co restated an “outperform” rating and issued a $125.00 target price (up previously from $110.00) on shares of Lowe’s Companies in a research report on Thursday. Finally, Cfra restated a “hold” rating and issued a $105.00 target price on shares of Lowe’s Companies in a research report on Friday, June 14th. Ten analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Lowe’s Companies presently has an average rating of “Buy” and an average target price of $116.09.

In related news, EVP Donald Frieson purchased 2,030 shares of Lowe’s Companies stock in a transaction on Wednesday, June 19th. The stock was acquired at an average cost of $98.69 per share, for a total transaction of $200,340.70. Following the completion of the acquisition, the executive vice president now owns 10,980 shares of the company’s stock, valued at approximately $1,083,616.20. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 0.07% of the company’s stock.

About Lowe’s Companies

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.

See Also: The role of implied volatility with call option volume

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).

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

Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.