Omega Advisors Inc. acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the first quarter, Holdings Channel reports. The fund acquired 150,000 shares of the home improvement retailer’s stock, valued at approximately $12,332,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Schwab Charles Investment Management Inc. boosted its position in shares of Lowe’s Companies by 4.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 3,035,484 shares of the home improvement retailer’s stock valued at $249,548,000 after buying an additional 140,437 shares during the period. Brown Advisory Securities LLC boosted its position in shares of Lowe’s Companies by 4.6% in the first quarter. Brown Advisory Securities LLC now owns 6,196 shares of the home improvement retailer’s stock valued at $512,000 after buying an additional 273 shares during the period. Dynamic Capital Management Ltd boosted its position in shares of Lowe’s Companies by 148.7% in the first quarter. Dynamic Capital Management Ltd now owns 306,427 shares of the home improvement retailer’s stock valued at $25,191,000 after buying an additional 183,205 shares during the period. Invictus RG boosted its position in shares of Lowe’s Companies by 673.7% in the first quarter. Invictus RG now owns 5,981 shares of the home improvement retailer’s stock valued at $492,000 after buying an additional 5,208 shares during the period. Finally, KCG Holdings Inc. boosted its position in shares of Lowe’s Companies by 170.7% in the first quarter. KCG Holdings Inc. now owns 69,485 shares of the home improvement retailer’s stock valued at $5,712,000 after buying an additional 43,815 shares during the period. 74.70% of the stock is currently owned by institutional investors.

Shares of Lowe’s Companies, Inc. (NYSE LOW) traded down 1.67% during trading on Thursday, reaching $77.03. The company had a trading volume of 1,000,798 shares. The firm has a 50-day moving average of $76.78 and a 200 day moving average of $79.39. The firm has a market capitalization of $65.03 billion, a PE ratio of 24.15 and a beta of 1.08. Lowe’s Companies, Inc. has a 1-year low of $64.87 and a 1-year high of $86.25. Lowe’s Companies also saw some unusual options trading activity on Monday. Investors acquired 6,466 put options on the company. This represents an increase of approximately 538% compared to the average volume of 1,014 put options.

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

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 9th. Stockholders of record on Wednesday, July 26th were paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend was Monday, July 24th. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.35. Lowe’s Companies’s dividend payout ratio (DPR) is currently 51.57%.

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Several brokerages recently issued reports on LOW. Zacks Investment Research cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub raised Lowe’s Companies from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 2nd. Stifel Nicolaus reissued a “buy” rating and issued a $87.00 price objective on shares of Lowe’s Companies in a research note on Friday, July 21st. Jefferies Group LLC reissued a “hold” rating and issued a $89.00 price objective on shares of Lowe’s Companies in a research note on Friday, July 21st. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $89.00 target price on shares of Lowe’s Companies in a research report on Thursday, July 20th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $85.39.

In other news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the transaction, the insider now owns 37,716 shares of the company’s stock, valued at approximately $3,024,823.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.11% of the company’s stock.

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

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