Lowe’s Companies, Inc. (NYSE:LOW) is Two Sigma Advisers LP’s 9th Largest Position

Two Sigma Advisers LP increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 157.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,983,502 shares of the home improvement retailer’s stock after acquiring an additional 1,825,900 shares during the period. Lowe’s Companies makes up about 1.2% of Two Sigma Advisers LP’s portfolio, making the stock its 9th biggest holding. Two Sigma Advisers LP owned about 0.39% of Lowe’s Companies worth $403,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of LOW. State Street Corp raised its stake in shares of Lowe’s Companies by 2.7% during the 1st quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock valued at $3,047,351,000 after buying an additional 922,369 shares during the last quarter. FMR LLC raised its stake in shares of Lowe’s Companies by 3.2% during the 2nd quarter. FMR LLC now owns 22,847,450 shares of the home improvement retailer’s stock valued at $3,087,147,000 after buying an additional 706,111 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Lowe’s Companies by 0.5% during the 1st quarter. Geode Capital Management LLC now owns 10,403,533 shares of the home improvement retailer’s stock valued at $893,464,000 after buying an additional 47,959 shares during the last quarter. Nuveen Asset Management LLC raised its stake in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,351,287 shares of the home improvement retailer’s stock valued at $1,128,426,000 after buying an additional 181,285 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in shares of Lowe’s Companies by 2.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 7,967,519 shares of the home improvement retailer’s stock valued at $1,076,571,000 after buying an additional 184,794 shares during the last quarter. Institutional investors own 74.63% of the company’s stock.

Shares of NYSE LOW traded down $2.32 during midday trading on Wednesday, hitting $166.71. The company’s stock had a trading volume of 3,799,191 shares, compared to its average volume of 5,328,944. The company has a debt-to-equity ratio of 4.64, a quick ratio of 0.65 and a current ratio of 1.30. The firm’s fifty day moving average price is $157.74 and its 200-day moving average price is $124.44. The firm has a market cap of $125.99 billion, a P/E ratio of 22.17, a P/E/G ratio of 1.19 and a beta of 1.50. Lowe’s Companies, Inc. has a 1-year low of $60.00 and a 1-year high of $171.72.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 EPS for the quarter, topping analysts’ consensus estimates of $2.95 by $0.80. Lowe’s Companies had a net margin of 7.12% and a return on equity of 228.17%. The company had revenue of $27.30 billion for the quarter, compared to the consensus estimate of $24.24 billion. During the same period in the previous year, the firm earned $2.15 EPS. Lowe’s Companies’s revenue was up 30.1% on a year-over-year basis. As a group, research analysts predict that Lowe’s Companies, Inc. will post 8.39 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Wednesday, October 21st will be given a dividend of $0.60 per share. The ex-dividend date is Tuesday, October 20th. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.55. This represents a $2.40 dividend on an annualized basis and a yield of 1.44%. Lowe’s Companies’s payout ratio is presently 38.46%.

In related news, EVP Ross W. Mccanless sold 62,838 shares of the company’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $168.33, for a total transaction of $10,577,520.54. Following the completion of the sale, the executive vice president now directly owns 72,967 shares of the company’s stock, valued at approximately $12,282,535.11. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

A number of equities analysts have weighed in on LOW shares. Nomura lifted their price objective on Lowe’s Companies from $130.00 to $146.00 and gave the company a “buy” rating in a research note on Tuesday, June 23rd. KeyCorp raised their target price on Lowe’s Companies from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Thursday, August 20th. Loop Capital raised their target price on Lowe’s Companies from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Oppenheimer restated a “buy” rating on shares of Lowe’s Companies in a research report on Tuesday, June 16th. Finally, Royal Bank of Canada raised their target price on Lowe’s Companies from $165.00 to $188.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Three equities research analysts have rated the stock with a hold rating, thirty have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $165.75.

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. 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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