Lowe’s Companies, Inc. (LOW) Shares Sold by Pendal Group Ltd

Pendal Group Ltd lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 20.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 92,420 shares of the home improvement retailer’s stock after selling 24,154 shares during the quarter. Pendal Group Ltd’s holdings in Lowe’s Companies were worth $10,612,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of LOW. Fisher Asset Management LLC increased its holdings in Lowe’s Companies by 5.3% during the 2nd quarter. Fisher Asset Management LLC now owns 34,263 shares of the home improvement retailer’s stock valued at $3,275,000 after purchasing an additional 1,733 shares during the period. Fulton Bank N.A. increased its holdings in Lowe’s Companies by 24.3% during the 2nd quarter. Fulton Bank N.A. now owns 14,253 shares of the home improvement retailer’s stock valued at $1,363,000 after purchasing an additional 2,788 shares during the period. Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Lowe’s Companies by 9.3% during the 2nd quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 23,602 shares of the home improvement retailer’s stock valued at $2,256,000 after purchasing an additional 2,000 shares during the period. State of Alaska Department of Revenue increased its holdings in Lowe’s Companies by 19.2% during the 2nd quarter. State of Alaska Department of Revenue now owns 125,170 shares of the home improvement retailer’s stock valued at $11,961,000 after purchasing an additional 20,190 shares during the period. Finally, Trust Co. of Vermont increased its holdings in Lowe’s Companies by 2.3% during the 2nd quarter. Trust Co. of Vermont now owns 89,558 shares of the home improvement retailer’s stock valued at $8,559,000 after purchasing an additional 2,020 shares during the period. 74.59% of the stock is owned by institutional investors and hedge funds.

In related news, Director Lisa W. Wardell purchased 273 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were purchased at an average cost of $107.72 per share, with a total value of $29,407.56. Following the transaction, the director now directly owns 273 shares in the company, valued at approximately $29,407.56. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Marshall A. Croom sold 15,735 shares of the business’s stock in a transaction that occurred on Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total value of $1,803,388.35. Following the completion of the sale, the chief financial officer now directly owns 63,099 shares in the company, valued at $7,231,776.39. The disclosure for this sale can be found here. Insiders own 0.30% of the company’s stock.

A number of research analysts recently issued reports on LOW shares. Jefferies Financial Group started coverage on Lowe’s Companies in a report on Tuesday, August 21st. They set a “buy” rating and a $118.00 price target on the stock. SunTrust Banks raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price objective on the stock in a research report on Friday, September 28th. Morgan Stanley lifted their price objective on Lowe’s Companies from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Thursday, October 11th. Robert W. Baird reaffirmed an “outperform” rating and set a $130.00 price objective (up from $120.00) on shares of Lowe’s Companies in a research report on Monday, September 17th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Lowe’s Companies in a research report on Thursday, September 13th. Nine investment analysts have rated the stock with a hold rating and twenty-five have assigned a buy rating to the stock. Lowe’s Companies has a consensus rating of “Buy” and an average target price of $112.41.

Shares of LOW opened at $100.60 on Thursday. The company has a current ratio of 1.06, a quick ratio of 0.25 and a debt-to-equity ratio of 2.58. Lowe’s Companies, Inc. has a 52 week low of $77.14 and a 52 week high of $117.70. The company has a market capitalization of $78.81 billion, a PE ratio of 22.92, a P/E/G ratio of 1.31 and a beta of 1.52.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The firm had revenue of $20.89 billion for the quarter, compared to analysts’ expectations of $20.79 billion. During the same period in the previous year, the firm posted $1.57 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. As a group, analysts forecast that Lowe’s Companies, Inc. will post 5.19 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 7th. Stockholders of record on Wednesday, October 24th were given a $0.48 dividend. The ex-dividend date of this dividend was Tuesday, October 23rd. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.91%. Lowe’s Companies’s dividend payout ratio is currently 43.74%.

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Lowe’s Companies Profile

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 Companies (NYSE:LOW)

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