Wedge Capital Management L L P NC Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Wedge Capital Management L L P NC reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,167 shares of the home improvement retailer’s stock after selling 5,288 shares during the quarter. Wedge Capital Management L L P NC’s holdings in Lowe’s Companies were worth $13,912,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Nuveen Asset Management LLC increased its holdings in Lowe’s Companies by 6,680.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock worth $636,989,000 after acquiring an additional 6,219,346 shares during the period. Morgan Stanley increased its holdings in Lowe’s Companies by 1.0% during the 2nd quarter. Morgan Stanley now owns 4,970,572 shares of the home improvement retailer’s stock worth $501,580,000 after acquiring an additional 50,649 shares during the period. Parametric Portfolio Associates LLC increased its holdings in Lowe’s Companies by 2.5% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 3,375,534 shares of the home improvement retailer’s stock worth $371,174,000 after acquiring an additional 82,781 shares during the period. Eaton Vance Management increased its holdings in Lowe’s Companies by 49.9% during the 2nd quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock worth $238,844,000 after acquiring an additional 788,392 shares during the period. Finally, California Public Employees Retirement System increased its holdings in Lowe’s Companies by 19.6% during the 3rd quarter. California Public Employees Retirement System now owns 1,913,710 shares of the home improvement retailer’s stock worth $210,432,000 after acquiring an additional 314,000 shares during the period. Institutional investors own 74.58% of the company’s stock.

LOW has been the topic of a number of analyst reports. Guggenheim upped their target price on shares of Lowe’s Companies from $130.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, November 21st. Oppenheimer upped their target price on shares of Lowe’s Companies from $135.00 to $145.00 and gave the stock an “outperform” rating in a report on Friday, October 4th. Jefferies Financial Group upped their target price on shares of Lowe’s Companies from $141.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Telsey Advisory Group upped their target price on shares of Lowe’s Companies from $120.00 to $133.00 and gave the stock an “outperform” rating in a report on Thursday, November 21st. Finally, JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Lowe’s Companies in a report on Wednesday, November 20th. Six analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $129.46.

Shares of NYSE:LOW opened at $119.27 on Friday. The company’s fifty day moving average price is $118.99 and its 200-day moving average price is $110.90. The firm has a market capitalization of $92.03 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.50 and a beta of 1.28. Lowe’s Companies, Inc. has a one year low of $90.23 and a one year high of $122.88. The company has a debt-to-equity ratio of 8.37, a current ratio of 1.04 and a quick ratio of 0.13.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 20th. The home improvement retailer reported $1.41 EPS for the quarter, topping the Zacks’ consensus estimate of $1.35 by $0.06. The firm had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.69 billion. Lowe’s Companies had a net margin of 4.11% and a return on equity of 146.62%. The business’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.04 EPS. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 5.7 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be paid a $0.55 dividend. The ex-dividend date is Tuesday, January 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.84%. Lowe’s Companies’s dividend payout ratio (DPR) is 42.80%.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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