Lee Danner & Bass Inc. Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Lee Danner & Bass Inc. acquired a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 74,991 shares of the home improvement retailer’s stock, valued at approximately $16,533,000. Lowe’s Companies makes up approximately 1.3% of Lee Danner & Bass Inc.’s investment portfolio, making the stock its 13th biggest position.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Norges Bank acquired a new stake in Lowe’s Companies in the 4th quarter worth about $1,638,746,000. Charles Schwab Investment Management Inc. raised its stake in Lowe’s Companies by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 3,211,131 shares of the home improvement retailer’s stock worth $714,637,000 after purchasing an additional 41,451 shares in the last quarter. Schroder Investment Management Group raised its stake in Lowe’s Companies by 1.9% in the 4th quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock worth $634,518,000 after purchasing an additional 52,859 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD raised its stake in Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after purchasing an additional 493,180 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded up $1.73 during trading on Friday, reaching $248.50. 2,517,048 shares of the company traded hands, compared to its average volume of 2,522,403. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The company has a 50 day moving average price of $233.68 and a 200-day moving average price of $233.32. The firm has a market capitalization of $141.60 billion, a PE ratio of 19.96, a P/E/G ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the prior year, the company posted $4.56 earnings per share. The business’s revenue was down 5.5% on a year-over-year basis. Equities research analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.85%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Bank of America dropped their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Evercore ISI boosted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Royal Bank of Canada dropped their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Gordon Haskett dropped their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $254.04.

Lowe’s Companies Company Profile

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