Lowe’s Companies, Inc. (LOW) Position Cut by Richard Bernstein Advisors LLC

Richard Bernstein Advisors LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 42.0% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 38,614 shares of the home improvement retailer’s stock after selling 28,004 shares during the period. Richard Bernstein Advisors LLC’s holdings in Lowe’s Companies were worth $2,994,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. SRS Capital Advisors Inc. grew its position in Lowe’s Companies by 0.4% in the 1st quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock valued at $101,000 after buying an additional 5 shares in the last quarter. Guardian Life Insurance Co. of America grew its position in Lowe’s Companies by 0.4% in the 1st quarter. Guardian Life Insurance Co. of America now owns 3,346 shares of the home improvement retailer’s stock valued at $275,000 after buying an additional 13 shares in the last quarter. Winfield Associates Inc. grew its position in Lowe’s Companies by 0.6% in the 1st 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 in the last quarter. Modera Wealth Management LLC grew its position in Lowe’s Companies by 0.3% in the 1st quarter. Modera Wealth Management LLC now owns 4,927 shares of the home improvement retailer’s stock valued at $405,000 after buying an additional 15 shares in the last quarter. Finally, Alps Advisors Inc. grew its position in Lowe’s Companies by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,844 shares of the home improvement retailer’s stock valued at $453,000 after buying an additional 15 shares in the last quarter. Hedge funds and other institutional investors own 74.22% of the company’s stock.

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A number of brokerages recently issued reports on LOW. Deutsche Bank AG reiterated a “buy” rating and issued a $90.00 target price (up previously from $85.00) on shares of Lowe’s Companies in a research report on Friday, October 6th. Gordon Haskett began coverage on shares of Lowe’s Companies in a research report on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 target price for the company. Piper Jaffray Companies reiterated a “hold” rating and issued a $80.00 target price on shares of Lowe’s Companies in a research report on Friday, September 29th. Jefferies Group LLC reiterated a “hold” rating and issued a $75.00 target price on shares of Lowe’s Companies in a research report on Thursday, September 28th. Finally, Royal Bank Of Canada reiterated a “buy” rating and issued a $81.00 target price on shares of Lowe’s Companies in a research report on Monday, September 25th. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and fourteen have assigned a buy rating to the company. Lowe’s Companies presently has an average rating of “Hold” and an average price target of $85.32.

Lowe’s Companies, Inc. (NYSE LOW) opened at 81.10 on Wednesday. The company has a market cap of $67.54 billion, a price-to-earnings ratio of 23.03 and a beta of 1.07. Lowe’s Companies, Inc. has a 52-week low of $64.87 and a 52-week high of $86.25. The stock’s 50 day moving average is $77.76 and its 200 day moving average is $79.38.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.05). The company had revenue of $19.50 billion for the quarter, compared to analyst estimates of $19.58 billion. Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. Lowe’s Companies’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.37 earnings per share. Equities research analysts forecast that Lowe’s Companies, Inc. will post $4.50 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a dividend of $0.41 per share. The ex-dividend date is Tuesday, October 24th. This represents a $1.64 annualized dividend and a dividend yield of 2.02%. Lowe’s Companies’s payout ratio is currently 46.20%.

In other news, SVP Matthew V. Hollifield sold 7,853 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the transaction, the senior vice president now directly owns 30,750 shares in the company, valued at approximately $2,407,725. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Paul D. Ramsay sold 2,098 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the transaction, the insider now owns 8,400 shares of the company’s stock, valued at $655,368. The disclosure for this sale can be found here. 0.11% of the stock is currently owned by insiders.

Lowe’s Companies Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.

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

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