PNC Financial Services Group Inc. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 541,541 shares of the home improvement retailer’s stock after selling 22,281 shares during the period. PNC Financial Services Group Inc.’s holdings in Lowe’s Companies were worth $59,283,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of LOW. Kaizen Advisory LLC raised its position in Lowe’s Companies by 13.6% during the 4th quarter. Kaizen Advisory LLC now owns 2,226 shares of the home improvement retailer’s stock valued at $206,000 after purchasing an additional 266 shares in the last quarter. Dupont Capital Management Corp raised its position in Lowe’s Companies by 30.2% during the 4th quarter. Dupont Capital Management Corp now owns 11,197 shares of the home improvement retailer’s stock valued at $1,034,000 after purchasing an additional 2,596 shares in the last quarter. BerganKDV Wealth Management LLC raised its position in Lowe’s Companies by 8.4% during the 4th quarter. BerganKDV Wealth Management LLC now owns 11,091 shares of the home improvement retailer’s stock valued at $1,024,000 after purchasing an additional 861 shares in the last quarter. Greatmark Investment Partners Inc. raised its position in Lowe’s Companies by 24.8% during the 4th quarter. Greatmark Investment Partners Inc. now owns 63,221 shares of the home improvement retailer’s stock valued at $5,839,000 after purchasing an additional 12,550 shares in the last quarter. Finally, Beacon Pointe Wealth Advisors LLC bought a new stake in Lowe’s Companies during the 4th quarter valued at $341,000. Hedge funds and other institutional investors own 76.85% of the company’s stock.

In other Lowe’s Companies news, insider Marvin R. Ellison bought 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 24th. The shares were purchased at an average cost of $95.05 per share, for a total transaction of $950,500.00. Following the purchase, the insider now directly owns 80,090 shares in the company, valued at $7,612,554.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

LOW stock traded up $0.17 on Wednesday, hitting $96.52. 57,431 shares of the company’s stock were exchanged, compared to its average volume of 4,876,851. Lowe’s Companies, Inc. has a 12-month low of $84.75 and a 12-month high of $118.23. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.09 and a quick ratio of 0.24. The company has a market cap of $75.85 billion, a price-to-earnings ratio of 18.86, a price-to-earnings-growth ratio of 1.23 and a beta of 1.37.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, May 22nd. The home improvement retailer reported $1.22 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.33 by ($0.11). Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. The business had revenue of $17.74 billion for the quarter, compared to analysts’ expectations of $17.65 billion. During the same quarter last year, the firm earned $1.19 earnings per share. The firm’s quarterly revenue was up 2.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Lowe’s Companies, Inc. will post 5.59 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Investors of record on Wednesday, July 24th will be paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 2.28%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.48. The ex-dividend date is Tuesday, July 23rd. Lowe’s Companies’s payout ratio is 37.35%.

LOW has been the subject of a number of research analyst reports. Zacks Investment Research lowered Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, February 12th. Loop Capital lifted their target price on Lowe’s Companies from $99.00 to $102.00 and gave the company a “hold” rating in a research report on Wednesday, February 27th. Robert W. Baird lifted their target price on Lowe’s Companies from $120.00 to $126.00 and gave the company an “outperform” rating in a research report on Wednesday, February 27th. ValuEngine raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Thursday, February 28th. Finally, Wedbush lifted their target price on Lowe’s Companies from $95.00 to $110.00 and gave the company a “neutral” rating in a research report on Thursday, February 28th. Nine equities research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $113.48.

TRADEMARK VIOLATION NOTICE: This story was first reported by Watch List News and is the property of of Watch List News. If you are viewing this story on another domain, it was illegally copied and reposted in violation of US and international trademark and copyright legislation. The correct version of this story can be accessed at https://www.watchlistnews.com/pnc-financial-services-group-inc-cuts-position-in-lowes-companies-inc-nyselow/3039269.html.

Lowe’s Companies Company Profile

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.

Recommended Story: What is a stock buyback?

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe’s Companies, Inc. (NYSE:LOW).

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

Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.