Townsquare Capital LLC Lowers Position in Lowe’s Companies, Inc. $LOW

Townsquare Capital LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 21.6% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 10,504 shares of the home improvement retailer’s stock after selling 2,897 shares during the period. Townsquare Capital LLC’s holdings in Lowe’s Companies were worth $2,640,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of LOW. Activest Wealth Management lifted its holdings in shares of Lowe’s Companies by 78.5% in the 3rd quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock worth $29,000 after acquiring an additional 51 shares during the last quarter. Howard Hughes Medical Institute purchased a new stake in Lowe’s Companies in the second quarter valued at approximately $27,000. Solstein Capital LLC lifted its stake in Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 113 shares in the last quarter. Traub Capital Management LLC acquired a new position in Lowe’s Companies during the second quarter worth $30,000. Finally, Vermillion & White Wealth Management Group LLC boosted its position in shares of Lowe’s Companies by 128.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 76 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the sale, the chief executive officer directly owned 231,043 shares in the company, valued at $60,341,500.31. This trade represents a 7.23% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

Lowe’s Companies Price Performance

NYSE:LOW opened at $266.43 on Friday. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $281.36. The firm has a market capitalization of $149.45 billion, a PE ratio of 22.09, a price-to-earnings-growth ratio of 4.47 and a beta of 0.96. The business’s fifty day moving average price is $253.00 and its 200 day moving average price is $247.35.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The business had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. During the same period in the prior year, the firm posted $2.89 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be issued a $1.20 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Analysts Set New Price Targets

LOW has been the topic of several research reports. TD Cowen increased their target price on Lowe’s Companies from $250.00 to $295.00 and gave the stock a “hold” rating in a research note on Tuesday, January 20th. Sanford C. Bernstein boosted their price target on shares of Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research note on Thursday, November 20th. Evercore ISI reissued a “positive” rating on shares of Lowe’s Companies in a research note on Thursday, November 20th. Telsey Advisory Group cut their target price on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Finally, Argus reduced their target price on shares of Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating on the stock in a report on Tuesday, December 2nd. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $283.65.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.