US Bancorp DE reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% during the second quarter, HoldingsChannel reports. The firm owned 887,724 shares of the home improvement retailer’s stock after selling 23,731 shares during the period. US Bancorp DE’s holdings in Lowe’s Companies were worth $84,841,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. NuWave Investment Management LLC purchased a new position in shares of Lowe’s Companies in the second quarter worth approximately $126,000. FNY Investment Advisers LLC purchased a new position in shares of Lowe’s Companies in the second quarter worth approximately $127,000. ClariVest Asset Management LLC purchased a new position in shares of Lowe’s Companies in the first quarter worth approximately $118,000. Rainier Group Investment Advisory LLC purchased a new position in shares of Lowe’s Companies in the first quarter worth approximately $121,000. Finally, Jacobi Capital Management LLC increased its position in shares of Lowe’s Companies by 88.8% in the first quarter. Jacobi Capital Management LLC now owns 1,524 shares of the home improvement retailer’s stock worth $129,000 after acquiring an additional 717 shares in the last quarter. Institutional investors and hedge funds own 75.38% of the company’s stock.

LOW traded up $0.74 on Tuesday, reaching $99.71. 13,628 shares of the company traded hands, compared to its average volume of 3,466,802. Lowe’s Companies, Inc. has a 52-week low of $70.76 and a 52-week high of $108.98. The company has a market capitalization of $79.97 billion, a PE ratio of 22.74, a PEG ratio of 1.18 and a beta of 1.32. The company has a debt-to-equity ratio of 2.60, a quick ratio of 0.18 and a current ratio of 1.02.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, May 23rd. The home improvement retailer reported $1.19 EPS for the quarter, missing the Zacks’ consensus estimate of $1.22 by ($0.03). Lowe’s Companies had a net margin of 5.55% and a return on equity of 66.36%. The company had revenue of $17.36 billion for the quarter, compared to analysts’ expectations of $17.44 billion. During the same period in the previous year, the firm posted $1.03 earnings per share. The business’s revenue for the quarter was up 3.0% on a year-over-year basis. equities analysts forecast that Lowe’s Companies, Inc. will post 5.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Wednesday, October 24th will be given a $0.48 dividend. This represents a $1.92 annualized dividend and a yield of 1.93%. The ex-dividend date is Tuesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 43.74%.

LOW has been the topic of several analyst reports. Wells Fargo & Co initiated coverage on shares of Lowe’s Companies in a research report on Monday, April 23rd. They issued an “outperform” rating and a $100.00 target price on the stock. Zacks Investment Research downgraded shares of Lowe’s Companies from a “hold” rating to a “sell” rating in a research report on Tuesday, May 1st. Credit Suisse Group set a $111.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Monday, May 14th. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $107.00 target price on the stock in a research report on Wednesday, May 23rd. Finally, Wedbush set a $92.00 target price on shares of Lowe’s Companies and gave the stock a “hold” rating in a research report on Thursday, May 24th. Nine investment analysts have rated the stock with a hold rating and twenty-four have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $103.00.

In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 12,362 shares of the business’s stock in a transaction that occurred on Friday, June 8th. The shares were sold at an average price of $99.56, for a total value of $1,230,760.72. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.30% of the company’s stock.

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. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

See Also: Asset Allocation

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

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