The Marvin & Palmer Associates Inc. Boosts Position in Lowe’s Companies, Inc. (LOW), Report finds

The Marvin & Palmer Associates Inc. Boosts Position in Lowe’s Companies, Inc. (LOW), Report finds

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Morgan Stanley raised its position in Lowe’s Companies by 1.5% in the third quarter. Morgan Stanley now owns 4,171,288 shares of the home improvement retailer’s stock worth $301,209,000 after buying an additional 61,903 shares during the last quarter. Schwartz Investment Counsel Inc. boosted its position in shares of Lowe’s Companies by 5.6% in the third quarter. Schwartz Investment Counsel Inc. now owns 516,500 shares of the home improvement retailer’s stock worth $37,296,000 after buying an additional 27,300 shares in the last quarter. Spinnaker Trust boosted its position in shares of Lowe’s Companies by 0.5% in the third quarter. Spinnaker Trust now owns 34,235 shares of the home improvement retailer’s stock worth $2,594,000 after buying an additional 184 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of Lowe’s Companies by 7.7% in the third quarter. Principal Financial Group Inc. now owns 1,480,075 shares of the home improvement retailer’s stock worth $106,876,000 after buying an additional 105,939 shares in the last quarter. Finally, Stockman Asset Management boosted its position in shares of Lowe’s Companies by 3.9% in the third quarter. Stockman Asset Management now owns 29,506 shares of the home improvement retailer’s stock worth $2,131,000 after buying an additional 1,121 shares in the last quarter. 74.46% of the stock is currently owned by institutional investors.

Marvin & Palmer Associates Inc. raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 86.2% during the third quarter, Holdings Channel reports. The firm owned 58,375 shares of the home improvement retailer’s stock after buying an additional 27,020 shares during the period. Lowe’s Companies makes up 3.3% of Marvin & Palmer Associates Inc.’s investment portfolio, making the stock its 9th largest position. Marvin & Palmer Associates Inc.’s holdings in Lowe’s Companies were worth $4,215,000 at the end of the most recent quarter.

Lowe’s Companies, Inc. (NYSE:LOW) opened at 73.97 on Monday. The firm has a market cap of $64.34 billion, a price-to-earnings ratio of 27.15 and a beta of 1.28. The firm has a 50-day moving average price of $72.21 and a 200-day moving average price of $73.09. Lowe’s Companies, Inc. has a 1-year low of $63.41 and a 1-year high of $83.65.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.96 by $0.08. Lowe’s Companies had a return on equity of 46.46% and a net margin of 3.91%. The business earned $15.70 billion during the quarter, compared to the consensus estimate of $15.86 billion. During the same period last year, the business posted $0.80 earnings per share. The business’s revenue was up 9.6% on a year-over-year basis. On average, analysts expect that Lowe’s Companies, Inc. will post $3.92 earnings per share for the current fiscal year.

A number of equities analysts recently weighed in on LOW shares. Royal Bank Of Canada lifted their price target on Lowe’s Companies from $75.00 to $83.00 and gave the stock an “outperform” rating in a research note on Thursday, December 8th. Jefferies Group LLC reissued a “hold” rating and issued a $69.00 price target (down previously from $81.00) on shares of Lowe’s Companies in a research note on Tuesday, December 6th. J P Morgan Chase & Co cut Lowe’s Companies from an “overweight” rating to a “neutral” rating and dropped their price target for the stock from $87.00 to $72.00 in a research note on Wednesday, October 26th. Zacks Investment Research cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Wednesday, October 26th. Finally, BTIG Research restated a “buy” rating on shares of Lowe’s Companies in a research report on Wednesday, November 16th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and fifteen have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $81.74.

In related news, SVP Matthew V. Hollifield sold 2,609 shares of the business’s stock in a transaction dated Thursday, December 1st. The stock was sold at an average price of $70.29, for a total value of $183,386.61. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Marshall A. Croom sold 6,300 shares of the business’s stock in a transaction dated Monday, November 28th. The shares were sold at an average price of $71.52, for a total value of $450,576.00. Following the completion of the sale, the insider now directly owns 40,602 shares of the company’s stock, valued at $2,903,855.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 26,134 shares of company stock valued at $1,922,909. Corporate insiders own 0.39% of the company’s stock.

About Lowe’s Companies

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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