Stoneridge Investment Partners LLC bought a new position in Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 38,166 shares of the home improvement retailer’s stock, valued at approximately $2,756,000.

Several other hedge funds have also recently bought and sold shares of the company. Zurich Insurance Group Ltd FI raised its stake in Lowe’s Companies by 76.9% in the second quarter. Zurich Insurance Group Ltd FI now owns 156,059 shares of the home improvement retailer’s stock worth $12,355,000 after buying an additional 67,826 shares in the last quarter. Huntington National Bank raised its stake in Lowe’s Companies by 35.7% in the second quarter. Huntington National Bank now owns 355,482 shares of the home improvement retailer’s stock worth $28,144,000 after buying an additional 93,569 shares in the last quarter. Factory Mutual Insurance Co. raised its stake in Lowe’s Companies by 20.6% in the third quarter. Factory Mutual Insurance Co. now owns 964,200 shares of the home improvement retailer’s stock worth $69,625,000 after buying an additional 165,000 shares in the last quarter. BB&T Corp raised its stake in Lowe’s Companies by 16.3% in the second quarter. BB&T Corp now owns 180,176 shares of the home improvement retailer’s stock worth $14,265,000 after buying an additional 25,204 shares in the last quarter. Finally, Ardevora Asset Management LLP raised its stake in Lowe’s Companies by 11.8% in the second quarter. Ardevora Asset Management LLP now owns 297,300 shares of the home improvement retailer’s stock worth $23,537,000 after buying an additional 31,400 shares in the last quarter. Institutional investors own 74.00% of the company’s stock.

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

Shares of Lowe’s Companies, Inc. (NYSE:LOW) opened at 72.15 on Friday. Lowe’s Companies, Inc. has a 12-month low of $62.62 and a 12-month high of $83.65. The stock has a 50 day moving average of $72.46 and a 200-day moving average of $74.19. The company has a market capitalization of $62.76 billion, a P/E ratio of 26.49 and a beta of 1.28.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.96 by $0.08. The business earned $15.70 billion during the quarter, compared to analyst estimates of $15.86 billion. Lowe’s Companies had a return on equity of 46.46% and a net margin of 3.91%. The firm’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.80 EPS. Equities research analysts forecast that Lowe’s Companies, Inc. will post $3.92 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Wednesday, January 25th will be paid a $0.35 dividend. The ex-dividend date is Monday, January 23rd. This represents a $1.40 dividend on an annualized basis and a dividend yield of 1.94%. Lowe’s Companies’s payout ratio is currently 51.28%.

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Several brokerages have commented on LOW. Credit Suisse Group set a $80.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Friday, September 23rd. Robert W. Baird set a $88.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Monday, September 19th. Vetr lowered shares of Lowe’s Companies from a “strong-buy” rating to a “buy” rating and set a $76.30 price objective for the company. in a report on Tuesday, October 18th. BTIG Research restated a “buy” rating on shares of Lowe’s Companies in a report on Wednesday, November 16th. Finally, J P Morgan Chase & Co lowered shares of Lowe’s Companies from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $87.00 to $72.00 in a report on Wednesday, October 26th. Thirteen equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $82.19.

In related news, COO Ricky D. Damron sold 17,225 shares of the stock in a transaction on Friday, December 9th. The shares were sold at an average price of $74.83, for a total transaction of $1,288,946.75. Following the sale, the chief operating officer now directly owns 46,725 shares of the company’s stock, valued at $3,496,431.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Marshall A. Croom sold 6,300 shares of the stock in a transaction on Monday, November 28th. The stock was sold at an average price of $71.52, for a total transaction of $450,576.00. Following the sale, the insider now directly owns 40,602 shares in the company, valued at $2,903,855.04. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

About Lowe’s Companies

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.

5 Day Chart for NYSE:LOW

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