Ostrum Asset Management Invests $1.13 Million in Lowe’s (LOW)

Ostrum Asset Management acquired a new stake in Lowe’s (NYSE:LOW) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,848 shares of the home improvement retailer’s stock, valued at approximately $1,127,000.

Several other institutional investors and hedge funds also recently made changes to their positions in LOW. Buckingham Capital Management Inc. lifted its stake in Lowe’s by 30.4% during the third quarter. Buckingham Capital Management Inc. now owns 41,046 shares of the home improvement retailer’s stock worth $3,281,000 after purchasing an additional 9,566 shares during the last quarter. Wellington Shields Capital Management LLC purchased a new stake in Lowe’s during the fourth quarter worth approximately $548,000. SFE Investment Counsel lifted its stake in Lowe’s by 3.9% during the fourth quarter. SFE Investment Counsel now owns 70,905 shares of the home improvement retailer’s stock worth $6,590,000 after purchasing an additional 2,635 shares during the last quarter. Dubuque Bank & Trust Co. lifted its stake in Lowe’s by 13.2% during the fourth quarter. Dubuque Bank & Trust Co. now owns 69,923 shares of the home improvement retailer’s stock worth $6,499,000 after purchasing an additional 8,138 shares during the last quarter. Finally, Icon Advisers Inc. Co. lifted its stake in Lowe’s by 109.2% during the fourth quarter. Icon Advisers Inc. Co. now owns 114,200 shares of the home improvement retailer’s stock worth $10,614,000 after purchasing an additional 59,600 shares during the last quarter. Institutional investors and hedge funds own 72.93% of the company’s stock.

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In related news, SVP Matthew V. Hollifield sold 12,362 shares of the company’s stock in a transaction on Friday, June 8th. The stock was sold at an average price of $99.56, for a total transaction of $1,230,760.72. The sale was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 0.30% of the company’s stock.

LOW has been the subject of several recent analyst reports. Gabelli started coverage on Lowe’s in a research note on Wednesday, April 11th. They set a “buy” rating and a $113.00 target price for the company. Stifel Nicolaus reaffirmed a “buy” rating and set a $105.00 price target on shares of Lowe’s in a research report on Thursday, March 1st. Deutsche Bank set a $107.00 price target on Lowe’s and gave the stock a “buy” rating in a research report on Thursday, March 1st. Credit Suisse Group set a $111.00 price target on Lowe’s and gave the stock a “buy” rating in a research report on Monday, May 14th. Finally, Wells Fargo & Co reaffirmed a “buy” rating and set a $100.00 price target on shares of Lowe’s in a research report on Tuesday, May 22nd. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twenty-five have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $100.79.

Shares of Lowe’s opened at $100.50 on Wednesday, Marketbeat reports. Lowe’s has a 1-year low of $70.76 and a 1-year high of $108.98. The firm has a market cap of $82.02 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 1.11 and a beta of 1.35. The company has a current ratio of 1.02, a quick ratio of 0.18 and a debt-to-equity ratio of 2.60.

Lowe’s (NYSE:LOW) last announced its quarterly earnings data on Wednesday, May 23rd. The home improvement retailer reported $1.19 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.03). Lowe’s had a return on equity of 66.36% and a net margin of 5.55%. The business had revenue of $17.36 billion for the quarter, compared to analyst estimates of $17.44 billion. During the same period in the prior year, the company earned $1.03 EPS. The company’s revenue was up 3.0% on a year-over-year basis. equities analysts predict that Lowe’s will post 5.44 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 8th. Investors of record on Wednesday, July 25th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, July 24th. This is a positive change from Lowe’s’s previous quarterly dividend of $0.41. Lowe’s’s dividend payout ratio is currently 37.36%.

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)