Douglas Lane & Associates LLC Sells 36,235 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Douglas Lane & Associates LLC reduced its holdings in shares of Lowe's Companies, Inc. (NYSE:LOW) by 5.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 612,272 shares of the home improvement retailer’s stock after selling 36,235 shares during the period. Lowe's Companies comprises approximately 2.0% of Douglas Lane & Associates LLC’s portfolio, making the stock its 12th biggest holding. Douglas Lane & Associates LLC’s holdings in Lowe's Companies were worth $101,551,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of LOW. Two Sigma Advisers LP grew its position in Lowe's Companies by 157.7% during the second quarter. Two Sigma Advisers LP now owns 2,983,502 shares of the home improvement retailer’s stock valued at $403,131,000 after acquiring an additional 1,825,900 shares during the last quarter. Fred Alger Management LLC boosted its holdings in Lowe's Companies by 967.2% in the first quarter. Fred Alger Management LLC now owns 1,891,030 shares of the home improvement retailer’s stock valued at $162,723,000 after acquiring an additional 1,713,842 shares in the last quarter. Man Group plc boosted its holdings in Lowe's Companies by 4,527.7% in the second quarter. Man Group plc now owns 1,685,416 shares of the home improvement retailer’s stock valued at $227,734,000 after acquiring an additional 1,648,996 shares in the last quarter. AQR Capital Management LLC boosted its holdings in Lowe's Companies by 272.8% in the second quarter. AQR Capital Management LLC now owns 1,953,990 shares of the home improvement retailer’s stock valued at $262,148,000 after acquiring an additional 1,429,911 shares in the last quarter. Finally, State Street Corp boosted its holdings in Lowe's Companies by 2.7% in the first quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock valued at $3,047,351,000 after acquiring an additional 922,369 shares in the last quarter. Institutional investors and hedge funds own 74.63% of the company’s stock.

LOW has been the subject of several recent research reports. Guggenheim raised their price objective on Lowe's Companies from $135.00 to $175.00 in a research report on Thursday, August 20th. Nomura Instinet raised their price objective on Lowe's Companies from $130.00 to $146.00 and gave the company a “buy” rating in a research report on Tuesday, June 23rd. BofA Securities raised their price objective on Lowe's Companies from $176.00 to $200.00 and gave the company a “buy” rating in a research report on Thursday, August 20th. Telsey Advisory Group raised their price objective on Lowe's Companies from $175.00 to $185.00 and gave the company an “outperform” rating in a research report on Thursday, August 20th. Finally, Morgan Stanley raised their price objective on Lowe's Companies from $160.00 to $190.00 and gave the company an “overweight” rating in a research report on Tuesday, August 25th. Four equities research analysts have rated the stock with a hold rating, twenty-eight have issued a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $169.50.

Lowe's Companies stock opened at $175.13 on Tuesday. The business has a 50-day simple moving average of $165.11 and a two-hundred day simple moving average of $136.67. The company has a market cap of $132.35 billion, a P/E ratio of 23.29, a P/E/G ratio of 1.23 and a beta of 1.48. Lowe's Companies, Inc. has a 52-week low of $60.00 and a 52-week high of $180.67. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 4.64.

Lowe's Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.95 by $0.80. The business had revenue of $27.30 billion during the quarter, compared to the consensus estimate of $24.24 billion. Lowe's Companies had a return on equity of 228.17% and a net margin of 7.12%. The business’s quarterly revenue was up 30.1% compared to the same quarter last year. During the same period in the previous year, the company posted $2.15 EPS. Research analysts anticipate that Lowe's Companies, Inc. will post 8.49 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Shareholders of record on Wednesday, October 21st will be paid a dividend of $0.60 per share. 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 dividend yield of 1.37%. The ex-dividend date of this dividend is Tuesday, October 20th. Lowe's Companies’s payout ratio is currently 38.46%.

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

Lowe's Companies Company 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 appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

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

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