Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Argent Trust Co

Argent Trust Co cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 13.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 27,742 shares of the home improvement retailer’s stock after selling 4,496 shares during the period. Lowe’s Companies accounts for approximately 0.9% of Argent Trust Co’s holdings, making the stock its 21st largest position. Argent Trust Co’s holdings in Lowe’s Companies were worth $2,281,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of LOW. Glenview Capital Management LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $289,894,000. Valicenti Advisory Services Inc. raised its position in Lowe’s Companies by 5.1% in the first quarter. Valicenti Advisory Services Inc. now owns 53,675 shares of the home improvement retailer’s stock worth $4,413,000 after buying an additional 2,625 shares during the period. Norman Fields Gottscho Capital Management LLC acquired a new position in Lowe’s Companies during the first quarter worth $765,000. CMH Wealth Management LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $1,419,000. Finally, Ally Financial Inc. raised its position in Lowe’s Companies by 50.0% in the fourth quarter. Ally Financial Inc. now owns 45,000 shares of the home improvement retailer’s stock worth $3,200,000 after buying an additional 15,000 shares during the period. 75.30% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Lowe’s Companies, Inc. (LOW) opened at 77.15 on Monday. The company has a 50-day moving average of $80.38 and a 200 day moving average of $78.55. The firm has a market cap of $65.13 billion, a P/E ratio of 24.19 and a beta of 1.08. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.06 by $0.03. The company had revenue of $16.86 billion for the quarter, compared to analysts’ expectations of $16.99 billion. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The business’s revenue for the quarter was up 10.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.87 EPS. Equities research 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. Shareholders of record on Wednesday, July 26th will be paid a dividend of $0.41 per share. The ex-dividend date of this dividend is Monday, July 24th. This represents a $1.64 dividend on an annualized basis and a yield of 2.13%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35. Lowe’s Companies’s dividend payout ratio (DPR) is currently 44.03%.

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A number of research analysts have weighed in on the stock. Royal Bank of Canada reissued a “buy” rating and issued a $90.00 target price on shares of Lowe’s Companies in a research note on Monday, April 3rd. Goldman Sachs Group, Inc. (The) decreased their target price on shares of Lowe’s Companies from $97.00 to $96.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Stifel Nicolaus decreased their target price on shares of Lowe’s Companies from $89.00 to $87.00 and set a “buy” rating on the stock in a research note on Thursday, May 25th. Oppenheimer Holdings, Inc. set a $100.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a research note on Wednesday, May 24th. Finally, Vetr lowered shares of Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 target price on the stock. in a research note on Monday, May 8th. Two investment 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. The company currently has a consensus rating of “Hold” and a consensus target price of $85.62.

In other Lowe’s Companies news, insider Richard D. Maltsbarger sold 11,672 shares of the 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 transaction, the insider now owns 37,716 shares of the company’s stock, valued at $3,024,823.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.11% of the company’s stock.

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

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