Lowe’s Companies, Inc. (LOW) Position Lifted by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 114.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 98,722 shares of the home improvement retailer’s stock after acquiring an additional 52,582 shares during the quarter. Lowe’s Companies comprises 0.5% of Cubist Systematic Strategies LLC’s investment portfolio, making the stock its 11th biggest holding. Cubist Systematic Strategies LLC’s holdings in Lowe’s Companies were worth $7,654,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. SRS Capital Advisors Inc. grew its stake in Lowe’s Companies by 0.4% during the 1st quarter. SRS Capital Advisors Inc. now owns 1,236 shares of the home improvement retailer’s stock worth $101,000 after buying an additional 5 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in Lowe’s Companies during the 1st quarter worth approximately $103,000. State of Alaska Department of Revenue grew its stake in Lowe’s Companies by 8.3% during the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock worth $111,000 after buying an additional 110 shares during the last quarter. Balentine LLC purchased a new position in Lowe’s Companies during the 1st quarter worth approximately $120,000. Finally, Proficio Capital Partners LLC grew its stake in Lowe’s Companies by 140.4% during the 1st quarter. Proficio Capital Partners LLC now owns 1,589 shares of the home improvement retailer’s stock worth $127,000 after buying an additional 928 shares during the last quarter. Institutional investors and hedge funds own 73.29% of the company’s stock.

LOW has been the subject of a number of recent research reports. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 price objective for the company in a research report on Friday, August 11th. Longbow Research reaffirmed a “buy” rating and set a $95.00 price objective on shares of Lowe’s Companies in a research report on Monday, August 14th. BTIG Research reaffirmed a “buy” rating and set a $95.00 price objective on shares of Lowe’s Companies in a research report on Friday, August 18th. Credit Suisse Group reaffirmed an “outperform” rating and set a $94.00 price objective on shares of Lowe’s Companies in a research report on Monday, August 21st. They noted that the move was a valuation call. Finally, Oppenheimer set a $100.00 price target on Lowe’s Companies and gave the company a “buy” rating in a report on Wednesday, August 23rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and sixteen have assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $87.40.

In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of the business’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the transaction, the senior vice president now owns 30,750 shares in the company, valued at $2,407,725. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the business’s stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the transaction, the insider now owns 8,400 shares in the company, valued at approximately $655,368. The disclosure for this sale can be found here. Insiders sold 13,303 shares of company stock worth $1,047,406 in the last quarter. 0.11% of the stock is owned by insiders.

Shares of Lowe’s Companies, Inc. (NYSE LOW) traded up $1.23 during trading hours on Thursday, hitting $83.63. The stock had a trading volume of 10,391,209 shares, compared to its average volume of 5,970,067. Lowe’s Companies, Inc. has a twelve month low of $70.49 and a twelve month high of $88.55. The stock has a market capitalization of $69,290.00, a P/E ratio of 19.14, a P/E/G ratio of 1.38 and a beta of 1.14. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.12 and a current ratio of 1.02.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.02 by $0.03. Lowe’s Companies had a return on equity of 66.27% and a net margin of 5.16%. The firm had revenue of $16.77 billion for the quarter, compared to analysts’ expectations of $16.59 billion. During the same quarter last year, the firm earned $0.88 earnings per share. The firm’s revenue for the quarter was up 6.6% compared to the same quarter last year. research analysts forecast that Lowe’s Companies, Inc. will post 4.51 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe’s Companies’s payout ratio is currently 39.42%.

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About Lowe’s Companies

Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.

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

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