Barings LLC Trims Stake in Lowe’s Companies, Inc. (LOW)

Barings LLC decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 71.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,320 shares of the home improvement retailer’s stock after selling 16,110 shares during the period. Barings LLC’s holdings in Lowe’s Companies were worth $726,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the company. Ironsides Asset Advisors LLC boosted its holdings in shares of Lowe’s Companies by 698.3% in the second quarter. Ironsides Asset Advisors LLC now owns 8,327,089 shares of the home improvement retailer’s stock worth $98,637,000 after buying an additional 7,284,000 shares during the period. Boston Partners boosted its holdings in shares of Lowe’s Companies by 382.4% in the second quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock worth $457,230,000 after buying an additional 3,792,479 shares during the period. Winslow Capital Management LLC acquired a new position in shares of Lowe’s Companies in the second quarter worth about $303,908,000. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Lowe’s Companies in the second quarter worth about $266,540,000. Finally, Artisan Partners Limited Partnership acquired a new position in shares of Lowe’s Companies in the second quarter worth about $206,665,000. Institutional investors own 74.60% of the company’s stock.

Several research analysts have commented on the stock. Wedbush set a $105.00 target price on shares of Lowe’s Companies and gave the stock a “hold” rating in a report on Thursday, August 23rd. Bank of America raised their price target on shares of Lowe’s Companies from $113.00 to $126.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Argus raised their price target on shares of Lowe’s Companies to $120.00 and gave the stock a “buy” rating in a report on Thursday, August 23rd. Telsey Advisory Group raised their price target on shares of Lowe’s Companies from $123.00 to $126.00 and gave the stock an “outperform” rating in a report on Friday, September 28th. Finally, Loop Capital set a $130.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Wednesday, August 22nd. Eight equities research analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. Lowe’s Companies has an average rating of “Buy” and an average price target of $112.11.

Shares of LOW opened at $96.82 on Friday. The company has a market cap of $78.26 billion, a P/E ratio of 19.17, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. 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 twelve month low of $76.62 and a twelve month high of $117.70.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.05. The firm had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The company’s revenue for the quarter was up 7.1% on a year-over-year basis. During the same quarter last year, the firm earned $1.57 earnings per share. Analysts predict that Lowe’s Companies, Inc. will post 5.19 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 7th. Investors of record on Wednesday, October 24th will be given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Tuesday, October 23rd. Lowe’s Companies’s payout ratio is presently 43.74%.

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

About Lowe’s Companies

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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