Regent Investment Management LLC Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

Regent Investment Management LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 24.7% during the 3rd quarter, Holdings Channel reports. The firm owned 9,183 shares of the home improvement retailer’s stock after selling 3,007 shares during the quarter. Regent Investment Management LLC’s holdings in Lowe’s Companies were worth $1,010,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in LOW. Nuveen Asset Management LLC grew its position in Lowe’s Companies by 6,680.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock worth $636,989,000 after purchasing an additional 6,219,346 shares during the last quarter. Viking Global Investors LP purchased a new stake in Lowe’s Companies during the 2nd quarter worth approximately $139,358,000. Prudential PLC grew its position in Lowe’s Companies by 456.1% during the 2nd quarter. Prudential PLC now owns 1,222,183 shares of the home improvement retailer’s stock worth $123,440,000 after purchasing an additional 1,002,390 shares during the last quarter. Eaton Vance Management grew its position in Lowe’s Companies by 49.9% during the 2nd quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock worth $238,844,000 after purchasing an additional 788,392 shares during the last quarter. Finally, Nomura Holdings Inc. grew its position in Lowe’s Companies by 3,951.6% during the 2nd quarter. Nomura Holdings Inc. now owns 658,582 shares of the home improvement retailer’s stock worth $67,380,000 after purchasing an additional 642,327 shares during the last quarter. 76.31% of the stock is currently owned by institutional investors.

Shares of LOW traded up $0.39 during trading hours on Friday, hitting $112.99. The stock had a trading volume of 181,989 shares, compared to its average volume of 3,875,489. The company has a debt-to-equity ratio of 7.80, a quick ratio of 0.19 and a current ratio of 1.06. The firm has a 50-day moving average price of $111.12 and a 200 day moving average price of $105.92. Lowe’s Companies, Inc. has a fifty-two week low of $84.75 and a fifty-two week high of $118.23. The firm has a market capitalization of $86.77 billion, a price-to-earnings ratio of 21.93, a PEG ratio of 1.42 and a beta of 1.30.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The firm had revenue of $20.99 billion during the quarter, compared to analysts’ expectations of $20.96 billion. During the same period in the previous year, the business posted $2.07 EPS. The business’s revenue was up .5% compared to the same quarter last year. As a group, analysts predict that Lowe’s Companies, Inc. will post 5.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, October 22nd. Lowe’s Companies’s dividend payout ratio is currently 42.80%.

In related news, CAO Matthew V. Hollifield sold 12,136 shares of the business’s stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $112.34, for a total value of $1,363,358.24. Following the completion of the transaction, the chief accounting officer now directly owns 28,017 shares in the company, valued at approximately $3,147,429.78. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Jennifer L. Weber sold 12,589 shares of the business’s stock in a transaction on Monday, September 16th. The shares were sold at an average price of $112.62, for a total transaction of $1,417,773.18. Following the completion of the transaction, the executive vice president now owns 17,440 shares of the company’s stock, valued at $1,964,092.80. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

Several analysts have weighed in on LOW shares. Barclays boosted their target price on shares of Lowe’s Companies from $95.00 to $105.00 and gave the stock an “equal weight” rating in a research report on Monday, June 24th. Telsey Advisory Group lifted their price objective on shares of Lowe’s Companies from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Robert W. Baird set a $127.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, August 21st. Oppenheimer lifted their price objective on shares of Lowe’s Companies from $135.00 to $145.00 and gave the company an “outperform” rating in a research note on Friday, October 4th. Finally, Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $123.00 to $130.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Nine equities research analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $120.96.

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

Further Reading: Intrinsic Value

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

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