Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by MAI Capital Management

MAI Capital Management cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,468 shares of the home improvement retailer’s stock after selling 234 shares during the period. MAI Capital Management’s holdings in Lowe’s Companies were worth $1,847,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of LOW. Winfield Associates Inc. raised its stake in shares of Lowe’s Companies by 0.6% in the first quarter. Winfield Associates Inc. now owns 2,392 shares of the home improvement retailer’s stock valued at $196,000 after buying an additional 15 shares during the last quarter. First Personal Financial Services raised its stake in Lowe’s Companies by 0.3% in the first quarter. First Personal Financial Services now owns 8,067 shares of the home improvement retailer’s stock valued at $663,000 after buying an additional 21 shares in the last quarter. Hanson McClain Inc. increased its position in shares of Lowe’s Companies by 3.5% in the first quarter. Hanson McClain Inc. now owns 1,337 shares of the home improvement retailer’s stock valued at $110,000 after buying an additional 45 shares during the last quarter. Financial Architects Inc increased its position in shares of Lowe’s Companies by 1.1% in the first quarter. Financial Architects Inc now owns 4,313 shares of the home improvement retailer’s stock valued at $355,000 after buying an additional 46 shares during the last quarter. Finally, Hudson Valley Investment Advisors Inc. ADV increased its position in shares of Lowe’s Companies by 0.9% in the first quarter. Hudson Valley Investment Advisors Inc. ADV now owns 8,550 shares of the home improvement retailer’s stock valued at $703,000 after buying an additional 75 shares during the last quarter. 74.73% of the stock is owned by institutional investors.

Lowe’s Companies, Inc. (NYSE:LOW) opened at 77.91 on Friday. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25. The firm has a market capitalization of $65.77 billion, a price-to-earnings ratio of 24.43 and a beta of 1.08. The firm’s 50-day moving average is $77.18 and its 200 day moving average is $79.23.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing analysts’ consensus estimates of $1.06 by $0.03. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The company had revenue of $16.86 billion for the quarter, compared to the consensus estimate of $16.99 billion. During the same quarter last year, the firm posted $0.87 earnings per share. The firm’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities analysts predict that Lowe’s Companies, Inc. will post $4.62 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 9th. Shareholders of record on Wednesday, July 26th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.10%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35. The ex-dividend date of this dividend is Monday, July 24th. Lowe’s Companies’s payout ratio is 51.57%.

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Several equities analysts have recently commented on LOW shares. Vetr downgraded Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 price objective on the stock. in a research report on Monday, May 8th. Jefferies Group LLC boosted their target price on Lowe’s Companies from $80.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 12th. Credit Suisse Group set a $94.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research report on Tuesday, May 2nd. Zacks Investment Research upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $92.00 price objective on the stock in a research report on Tuesday, April 18th. Finally, Oppenheimer Holdings, Inc. set a $100.00 price objective on Lowe’s Companies and gave the company a “buy” rating in a research report on Wednesday, May 24th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $85.39.

In other Lowe’s Companies news, insider Richard D. Maltsbarger sold 11,672 shares of the business’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the sale, the insider now directly owns 37,716 shares in the company, valued at approximately $3,024,823.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.11% of the stock is currently owned by insiders.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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