Institute for Wealth Management LLC. Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

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Institute for Wealth Management LLC. cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 9,426 shares of the home improvement retailer’s stock after selling 213 shares during the period. Institute for Wealth Management LLC.’s holdings in Lowe’s Companies were worth $951,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its holdings in shares of Lowe’s Companies by 7.6% in the fourth quarter. Geode Capital Management LLC now owns 10,336,009 shares of the home improvement retailer’s stock worth $952,946,000 after purchasing an additional 728,740 shares during the last quarter. Boston Partners grew its stake in shares of Lowe’s Companies by 20.3% during the first quarter. Boston Partners now owns 4,900,149 shares of the home improvement retailer’s stock valued at $536,420,000 after buying an additional 826,414 shares during the last quarter. Artisan Partners Limited Partnership grew its stake in shares of Lowe’s Companies by 14.9% during the first quarter. Artisan Partners Limited Partnership now owns 3,735,627 shares of the home improvement retailer’s stock valued at $408,939,000 after buying an additional 483,822 shares during the last quarter. Parametric Portfolio Associates LLC boosted its holdings in shares of Lowe’s Companies by 0.6% in the first quarter. Parametric Portfolio Associates LLC now owns 3,349,230 shares of the home improvement retailer’s stock valued at $366,640,000 after purchasing an additional 19,829 shares during the period. Finally, Swiss National Bank boosted its holdings in shares of Lowe’s Companies by 2.1% in the first quarter. Swiss National Bank now owns 2,690,548 shares of the home improvement retailer’s stock valued at $294,534,000 after purchasing an additional 54,100 shares during the period. Institutional investors own 75.85% of the company’s stock.

In related news, EVP Donald Frieson bought 2,030 shares of the stock in a transaction on Wednesday, June 19th. The stock was bought at an average price of $98.69 per share, for a total transaction of $200,340.70. Following the completion of the acquisition, the executive vice president now directly owns 10,980 shares in the company, valued at $1,083,616.20. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Marvin R. Ellison bought 10,000 shares of the stock in a transaction on Friday, May 24th. The shares were bought at an average price of $95.05 per share, with a total value of $950,500.00. Following the acquisition, 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. In the last 90 days, insiders have acquired 12,280 shares of company stock valued at $1,174,566. 0.07% of the stock is owned by company insiders.

Lowe’s Companies stock traded up $1.78 during mid-day trading on Monday, reaching $95.70. 1,937,626 shares of the company were exchanged, compared to its average volume of 4,572,331. The business has a fifty day moving average of $101.84 and a 200 day moving average of $103.71. The company has a debt-to-equity ratio of 6.37, a quick ratio of 0.24 and a current ratio of 1.09. The firm has a market cap of $73.11 billion, a P/E ratio of 18.62, a PEG ratio of 1.22 and a beta of 1.36. Lowe’s Companies, Inc. has a 12-month low of $84.75 and a 12-month high of $118.23.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing analysts’ consensus estimates of $1.33 by ($0.11). The company had revenue of $17.74 billion for the quarter, compared to analysts’ expectations of $17.65 billion. Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The firm’s quarterly revenue was up 2.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.19 EPS. Sell-side analysts predict that Lowe’s Companies, Inc. will post 5.58 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 2.30%. Lowe’s Companies’s dividend payout ratio is currently 42.80%.

LOW has been the subject of a number of research reports. Gabelli reiterated a “buy” rating on shares of Lowe’s Companies in a report on Thursday, May 23rd. Wedbush lowered their price target on Lowe’s Companies from $110.00 to $105.00 and set a “neutral” rating for the company in a report on Thursday, May 23rd. Cfra reiterated a “hold” rating and issued a $105.00 price target on shares of Lowe’s Companies in a report on Friday, June 14th. Morgan Stanley set a $123.00 price target on Lowe’s Companies and gave the company a “buy” rating in a report on Thursday, May 23rd. Finally, Zacks Investment Research upgraded Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Thursday, May 16th. Ten analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. Lowe’s Companies has an average rating of “Buy” and an average target price of $112.88.

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. 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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