Trade Report: The Macnealy Hoover Investment Management Inc. Maintains Position in Lowe’s Cos. (LOW)

The Macnealy Hoover Investment Management Inc. Maintains Position in Lowe’s Cos. (LOW)

Macnealy Hoover Investment Management Inc. held its stake in shares of Lowe’s Cos. (NYSE:LOW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,950 shares of the home improvement retailer’s stock at the end of the third quarter. Macnealy Hoover Investment Management Inc.’s holdings in Lowe’s Cos. were worth $1,007,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in LOW. Squarepoint Ops LLC boosted its position in Lowe’s Cos. by 23.3% in the first quarter. Squarepoint Ops LLC now owns 16,492 shares of the home improvement retailer’s stock valued at $1,249,000 after buying an additional 3,121 shares during the period. M&R Capital Management Inc. boosted its position in Lowe’s Cos. by 12.9% in the first quarter. M&R Capital Management Inc. now owns 3,500 shares of the home improvement retailer’s stock valued at $265,000 after buying an additional 400 shares during the period. Fulton Bank N.A. boosted its position in Lowe’s Cos. by 8.2% in the second quarter. Fulton Bank N.A. now owns 3,409 shares of the home improvement retailer’s stock valued at $270,000 after buying an additional 259 shares during the period. Leith Wheeler Investment Counsel Ltd. boosted its position in Lowe’s Cos. by 3.5% in the second quarter. Leith Wheeler Investment Counsel Ltd. now owns 2,526 shares of the home improvement retailer’s stock valued at $260,000 after buying an additional 85 shares during the period. Finally, Boltwood Capital Management boosted its position in Lowe’s Cos. by 0.7% in the second quarter. Boltwood Capital Management now owns 30,270 shares of the home improvement retailer’s stock valued at $2,396,000 after buying an additional 225 shares during the period. 74.34% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Cos. (NYSE:LOW) traded up 0.61% during midday trading on Friday, hitting $72.21. 2,710,550 shares of the company’s stock traded hands. Lowe’s Cos. has a 52 week low of $62.62 and a 52 week high of $83.65. The company has a market capitalization of $63.04 billion, a PE ratio of 26.51 and a beta of 1.25. The company has a 50 day moving average of $69.10 and a 200-day moving average of $75.59.

Lowe’s Cos. (NYSE:LOW) last announced its earnings results on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.08. The company earned $15.70 billion during the quarter, compared to the consensus estimate of $15.86 billion. Lowe’s Cos. had a net margin of 3.91% and a return on equity of 46.46%. The business’s quarterly revenue was up 9.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.80 EPS. Equities research analysts predict that Lowe’s Cos. will post $3.92 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be given a $0.35 dividend. The ex-dividend date is Monday, January 23rd. This represents a $1.40 dividend on an annualized basis and a yield of 1.94%. Lowe’s Cos.’s dividend payout ratio is presently 51.28%.

Several research firms have commented on LOW. Stifel Nicolaus began coverage on shares of Lowe’s Cos. in a report on Tuesday, August 2nd. They set a “buy” rating and a $100.00 price target for the company. Vetr upgraded shares of Lowe’s Cos. from a “hold” rating to a “buy” rating and set a $87.38 price target for the company in a report on Tuesday, August 2nd. Cantor Fitzgerald reiterated a “buy” rating and set a $85.00 price target (up previously from $70.00) on shares of Lowe’s Cos. in a report on Saturday, August 13th. JPMorgan Chase & Co. restated a “buy” rating and issued a $89.00 target price on shares of Lowe’s Cos. in a report on Tuesday, August 16th. Finally, BMO Capital Markets upped their target price on shares of Lowe’s Cos. from $76.43 to $86.00 and gave the company an “outperform” rating in a report on Monday, August 22nd. Thirteen research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $81.93.

About Lowe’s Cos.

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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