Lowe’s Companies, Inc. (LOW) Shares Sold by Suntrust Banks Inc.

Suntrust Banks Inc. lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 9.1% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 234,478 shares of the home improvement retailer’s stock after selling 23,578 shares during the period. Suntrust Banks Inc.’s holdings in Lowe’s Companies were worth $19,275,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. Russell Investments Group Ltd. purchased a new position in Lowe’s Companies during the fourth quarter worth $86,064,000. Massey Quick & Co. LLC bought a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $632,000. Mission Wealth Management LLC raised its position in shares of Lowe’s Companies by 17.2% in the fourth quarter. Mission Wealth Management LLC now owns 4,398 shares of the home improvement retailer’s stock worth $313,000 after buying an additional 647 shares in the last quarter. First Command Bank bought a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $388,000. Finally, First Interstate Bank raised its position in shares of Lowe’s Companies by 1,663.9% in the fourth quarter. First Interstate Bank now owns 72,780 shares of the home improvement retailer’s stock worth $5,176,000 after buying an additional 68,654 shares in the last quarter. 75.46% of the stock is owned by hedge funds and other institutional investors.

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

Shares of Lowe’s Companies, Inc. (NYSE LOW) opened at 79.80 on Friday. The company has a market capitalization of $67.37 billion, a PE ratio of 25.02 and a beta of 1.08. The firm’s 50-day moving average is $82.31 and its 200 day moving average is $78.22. Lowe’s Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.06 by $0.03. The company had revenue of $16.86 billion for the quarter, compared to the consensus estimate of $16.99 billion. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The company’s revenue for the quarter was up 10.7% compared to the same quarter last year. During the same period last year, the firm posted $0.87 earnings per share. On average, analysts anticipate that Lowe’s Companies, Inc. will post $4.62 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 9th. Investors of record on Wednesday, July 26th will be issued a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, July 24th. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.35. This represents a $1.64 annualized dividend and a dividend yield of 2.06%. Lowe’s Companies’s payout ratio is 44.03%.

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LOW has been the subject of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “buy” rating and set a $90.00 price objective on shares of Lowe’s Companies in a research report on Monday, April 3rd. Credit Suisse Group set a $83.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, March 2nd. Morgan Stanley set a $88.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Thursday, February 23rd. BTIG Research reaffirmed a “buy” rating and set a $80.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, February 22nd. Finally, Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $92.00 price objective for the company in a research report on Tuesday, April 18th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $85.62.

In related news, insider Richard D. Maltsbarger sold 11,672 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the sale, the insider now directly owns 37,716 shares of the company’s stock, valued at approximately $3,024,823.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Marshall A. Croom sold 12,700 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, March 30th. The shares were sold at an average price of $82.14, for a total transaction of $1,043,178.00. Following the sale, the chief financial officer now directly owns 53,479 shares in the company, valued at $4,392,765.06. The disclosure for this sale can be found here. Insiders have sold a total of 41,524 shares of company stock worth $3,385,050 over the last ninety days. 0.11% of the stock is currently owned by insiders.

Lowe’s Companies Company Profile

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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