The Greenleaf Trust Continues to Hold Stake in Lowe’s Cos. (LOW)

The Greenleaf Trust Continues to Hold Stake in Lowe’s Cos. (LOW)

Greenleaf Trust continued to hold its position in shares of Lowe’s Cos. (NYSE:LOW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,006 shares of the home improvement retailer’s stock at the end of the second quarter. Greenleaf Trust’s holdings in Lowe’s Cos. were worth $238,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in LOW. Whittier Trust Co. of Nevada Inc. increased its position in shares of Lowe’s Cos. by 9.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 42,119 shares of the home improvement retailer’s stock worth $3,335,000 after buying an additional 3,496 shares during the period. Quadrant Capital Group LLC increased its position in shares of Lowe’s Cos. by 1.9% in the second quarter. Quadrant Capital Group LLC now owns 3,962 shares of the home improvement retailer’s stock worth $303,000 after buying an additional 75 shares during the period. LMR Partners LLP bought a new position in shares of Lowe’s Cos. during the second quarter worth about $2,179,000. Savant Capital LLC increased its position in shares of Lowe’s Cos. by 22.4% in the second quarter. Savant Capital LLC now owns 4,540 shares of the home improvement retailer’s stock worth $359,000 after buying an additional 830 shares during the period. Finally, Huntington National Bank increased its position in shares of Lowe’s Cos. by 35.7% in the second quarter. Huntington National Bank now owns 355,482 shares of the home improvement retailer’s stock worth $28,144,000 after buying an additional 93,569 shares during the period. Institutional investors own 75.48% of the company’s stock.

Lowe’s Cos. (NYSE:LOW) traded down 1.10% during midday trading on Friday, reaching $71.30. The company’s stock had a trading volume of 5,417,893 shares. Lowe’s Cos. has a 1-year low of $62.62 and a 1-year high of $83.65. The firm has a market capitalization of $62.36 billion, a PE ratio of 23.11 and a beta of 1.13. The stock’s 50-day moving average price is $73.85 and its 200 day moving average price is $77.29.

Lowe’s Cos. (NYSE:LOW) last posted its earnings results on Wednesday, August 17th. The home improvement retailer reported $1.37 EPS for the quarter, missing the Zacks’ consensus estimate of $1.41 by $0.04. Lowe’s Cos. had a net margin of 4.58% and a return on equity of 43.38%. The business earned $18.26 billion during the quarter, compared to analysts’ expectations of $18.42 billion. During the same quarter in the prior year, the firm earned $1.20 EPS. Lowe’s Cos.’s revenue for the quarter was up 5.3% compared to the same quarter last year. Equities analysts anticipate that Lowe’s Cos. will post $4.02 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, October 17th. This represents a $1.40 dividend on an annualized basis and a yield of 1.96%. Lowe’s Cos.’s dividend payout ratio is currently 45.16%.

A number of brokerages recently issued reports on LOW. Cleveland Research downgraded Lowe’s Cos. from a “buy” rating to a “neutral” rating in a research note on Thursday. Peel Hunt reiterated a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Lowe’s Cos. in a research note on Friday, September 23rd. Credit Suisse Group AG set a $80.00 price target on Lowe’s Cos. and gave the stock a “buy” rating in a research note on Friday, September 23rd. Robert W. Baird set a $88.00 price target on Lowe’s Cos. and gave the stock a “buy” rating in a research note on Monday, September 19th. Finally, Goldman Sachs Group Inc. restated a “buy” rating on shares of Lowe’s Cos. in a research note on Monday, September 12th. Eight analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $85.93.

Lowe’s Cos. Company Profile

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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