Delta Asset Management LLC TN Reduces Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

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Delta Asset Management LLC TN lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 306,790 shares of the home improvement retailer’s stock after selling 2,131 shares during the period. Lowe’s Companies accounts for approximately 4.3% of Delta Asset Management LLC TN’s holdings, making the stock its 7th biggest position. Delta Asset Management LLC TN’s holdings in Lowe’s Companies were worth $30,958,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Boston Partners lifted its stake in Lowe’s Companies by 20.3% during the 1st quarter. Boston Partners now owns 4,900,149 shares of the home improvement retailer’s stock valued at $536,420,000 after acquiring an additional 826,414 shares during the period. Geode Capital Management LLC lifted its stake in Lowe’s Companies by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 10,336,009 shares of the home improvement retailer’s stock valued at $952,946,000 after acquiring an additional 728,740 shares during the period. Nordea Investment Management AB lifted its stake in Lowe’s Companies by 395.6% during the 1st quarter. Nordea Investment Management AB now owns 821,674 shares of the home improvement retailer’s stock valued at $89,950,000 after acquiring an additional 655,882 shares during the period. Artisan Partners Limited Partnership lifted its stake in Lowe’s Companies by 14.9% during the 1st quarter. Artisan Partners Limited Partnership now owns 3,735,627 shares of the home improvement retailer’s stock valued at $408,939,000 after acquiring an additional 483,822 shares during the period. Finally, State of New Jersey Common Pension Fund D lifted its stake in Lowe’s Companies by 138.3% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 560,000 shares of the home improvement retailer’s stock valued at $61,303,000 after acquiring an additional 325,000 shares during the period. Hedge funds and other institutional investors own 76.67% of the company’s stock.

NYSE LOW opened at $97.92 on Wednesday. The company has a quick ratio of 0.24, a current ratio of 1.09 and a debt-to-equity ratio of 6.37. The company has a market cap of $77.69 billion, a P/E ratio of 19.05, a P/E/G ratio of 1.29 and a beta of 1.36. Lowe’s Companies, Inc. has a one year low of $84.75 and a one year high of $118.23. The firm’s 50 day moving average price is $102.42.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 EPS for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.11). The firm had revenue of $17.74 billion for the quarter, compared to the consensus estimate of $17.65 billion. Lowe’s Companies had a net margin of 3.31% and a return on equity of 91.85%. The firm’s revenue was up 2.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.19 earnings per share. On average, equities analysts expect that Lowe’s Companies, Inc. will post 5.59 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be given a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, July 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.48. This represents a $2.20 dividend on an annualized basis and a yield of 2.25%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 42.80%.

In related news, EVP Donald Frieson purchased 2,030 shares of the stock in a transaction that occurred on Wednesday, June 19th. The stock was bought at an average cost of $98.69 per share, for a total transaction of $200,340.70. Following the completion of the transaction, the executive vice president now directly owns 10,980 shares in the company, valued at $1,083,616.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Marvin R. Ellison purchased 10,000 shares of the stock in a transaction that occurred on Friday, May 24th. The stock was bought at an average price of $95.05 per share, with a total value of $950,500.00. Following the completion of the transaction, the insider now owns 80,090 shares of the company’s stock, valued at $7,612,554.50. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 12,280 shares of company stock valued at $1,174,566. 0.07% of the stock is owned by corporate insiders.

LOW has been the topic of several research analyst reports. Morgan Stanley set a $123.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Thursday, May 23rd. Telsey Advisory Group reaffirmed an “outperform” rating and set a $116.00 price target (down previously from $126.00) on shares of Lowe’s Companies in a research report on Thursday, May 23rd. Barclays upped their price target on shares of Lowe’s Companies from $95.00 to $105.00 and gave the company an “equal weight” rating in a research report on Monday, June 24th. ValuEngine lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Finally, Bank of America set a $135.00 price target on shares of Lowe’s Companies and gave the company a “buy” rating in a research report on Monday, May 27th. Ten research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $112.88.

Lowe’s Companies 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.

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

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