Legg Mason Asset Management Japan Co. Ltd. Cuts Stake in Lowe’s Companies, Inc. (LOW)

Legg Mason Asset Management Japan Co. Ltd. reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 5.9% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,100 shares of the home improvement retailer’s stock after selling 700 shares during the quarter. Legg Mason Asset Management Japan Co. Ltd.’s holdings in Lowe’s Companies were worth $861,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Lowe’s Companies by 4.3% in the 1st quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock valued at $5,250,843,000 after acquiring an additional 2,650,045 shares during the last quarter. Blue Edge Capital LLC bought a new position in Lowe’s Companies during the 1st quarter valued at approximately $727,000. Sumitomo Mitsui Asset Management Company LTD raised its position in Lowe’s Companies by 11.8% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 105,471 shares of the home improvement retailer’s stock valued at $8,177,000 after purchasing an additional 11,119 shares during the last quarter. Summit Global Investments bought a new position in Lowe’s Companies during the 2nd quarter valued at approximately $1,421,000. Finally, Ffcm LLC raised its position in Lowe’s Companies by 6.4% during the 2nd quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock valued at $2,395,000 after purchasing an additional 1,853 shares during the last quarter. Hedge funds and other institutional investors own 74.38% of the company’s stock.

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Several research analysts have recently issued reports on LOW shares. Bank of America Corporation started coverage on Lowe’s Companies in a research report on Tuesday, September 5th. They issued a “buy” rating and a $95.00 target price for the company. Zacks Investment Research lowered Lowe’s Companies from a “hold” rating to a “sell” rating in a research report on Monday, August 28th. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 target price on shares of Lowe’s Companies in a research report on Friday, July 21st. Oppenheimer Holdings, Inc. set a $100.00 target price on Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $90.00 target price (up previously from $85.00) on shares of Lowe’s Companies in a research report on Friday, October 6th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $85.62.

In related news, insider Paul D. Ramsay sold 2,098 shares of Lowe’s Companies stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the completion of the transaction, the insider now owns 8,400 shares in the company, valued at $655,368. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Matthew V. Hollifield sold 7,853 shares of Lowe’s Companies stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $78.30, for a total value of $614,889.90. Following the completion of the transaction, the senior vice president now owns 30,750 shares of the company’s stock, valued at approximately $2,407,725. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Lowe’s Companies, Inc. (NYSE LOW) opened at $79.23 on Wednesday. The firm has a market capitalization of $64,892.61, a PE ratio of 17.86, a PEG ratio of 1.26 and a beta of 1.13. The company has a current ratio of 1.03, a quick ratio of 0.19 and a debt-to-equity ratio of 2.85. Lowe’s Companies, Inc. has a 12-month low of $65.12 and a 12-month high of $86.25.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.05). The firm had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.37 EPS. sell-side analysts forecast that Lowe’s Companies, Inc. will post 4.5 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Stockholders of record on Wednesday, January 24th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.07%. Lowe’s Companies’s payout ratio is 46.20%.

Lowe’s Companies Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.

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

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