Lowe’s Companies, Inc. (NYSE:LOW) Stake Lowered by Schroder Investment Management Group

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Schroder Investment Management Group cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 5.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 566,667 shares of the home improvement retailer’s stock after selling 32,124 shares during the quarter. Schroder Investment Management Group owned approximately 0.07% of Lowe’s Companies worth $54,400,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the stock. Global X Management Co LLC grew its stake in Lowe’s Companies by 15.0% during the second quarter. Global X Management Co LLC now owns 18,587 shares of the home improvement retailer’s stock worth $1,776,000 after buying an additional 2,431 shares in the last quarter. Carnegie Capital Asset Management LLC grew its stake in Lowe’s Companies by 6.2% during the second quarter. Carnegie Capital Asset Management LLC now owns 124,103 shares of the home improvement retailer’s stock worth $12,109,000 after buying an additional 7,287 shares in the last quarter. WealthPLAN Partners LLC grew its stake in Lowe’s Companies by 19.9% during the second quarter. WealthPLAN Partners LLC now owns 72,175 shares of the home improvement retailer’s stock worth $6,898,000 after buying an additional 11,958 shares in the last quarter. Bank of Nova Scotia grew its stake in Lowe’s Companies by 9.8% during the second quarter. Bank of Nova Scotia now owns 182,260 shares of the home improvement retailer’s stock worth $17,419,000 after buying an additional 16,325 shares in the last quarter. Finally, Verition Fund Management LLC grew its stake in Lowe’s Companies by 463.6% during the second quarter. Verition Fund Management LLC now owns 52,429 shares of the home improvement retailer’s stock worth $5,011,000 after buying an additional 43,126 shares in the last quarter. Institutional investors and hedge funds own 74.49% of the company’s stock.

A number of brokerages have issued reports on LOW. Morgan Stanley increased their price objective on shares of Lowe’s Companies from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday. Bank of America set a $132.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Tuesday, October 2nd. Goldman Sachs Group set a $125.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Friday, September 28th. Telsey Advisory Group raised their price target on shares of Lowe’s Companies from $123.00 to $126.00 and gave the company an “outperform” rating in a research note on Friday, September 28th. Finally, SunTrust Banks upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Friday, September 28th. Eight analysts have rated the stock with a hold rating and twenty-five have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $112.30.

Lowe’s Companies stock traded up $1.13 during mid-day trading on Friday, hitting $105.36. 4,395,145 shares of the stock were exchanged, compared to its average volume of 5,793,781. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.25 and a current ratio of 1.06. Lowe’s Companies, Inc. has a 12 month low of $75.36 and a 12 month high of $117.70. The firm has a market cap of $92.81 billion, a price-to-earnings ratio of 24.00, a PEG ratio of 1.54 and a beta of 1.39.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.02 by $0.05. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The firm had revenue of $20.89 billion during the quarter, compared to analyst estimates of $20.79 billion. During the same quarter last year, the business earned $1.57 EPS. The company’s revenue was up 7.1% compared to the same quarter last year. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 5.19 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Wednesday, October 24th will be issued a dividend of $0.48 per share. The ex-dividend date of this dividend is Tuesday, October 23rd. This represents a $1.92 annualized dividend and a yield of 1.82%. Lowe’s Companies’s payout ratio is 43.74%.

In other news, CFO Marshall A. Croom sold 15,735 shares of Lowe’s Companies stock in a transaction on Tuesday, September 18th. The shares were sold at an average price of $114.61, for a total value of $1,803,388.35. Following the completion of the sale, the chief financial officer now owns 63,099 shares in the company, valued at approximately $7,231,776.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lisa W. Wardell acquired 273 shares of the stock in a transaction dated Friday, August 24th. The stock was bought at an average price of $107.72 per share, with a total value of $29,407.56. Following the purchase, the director now directly owns 273 shares in the company, valued at $29,407.56. The disclosure for this purchase can be found here. 0.30% of the stock is currently owned by company insiders.

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. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

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

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