QRG Capital Management Inc. Has $23.90 Million Position in Lowe’s Companies, Inc. $LOW

QRG Capital Management Inc. lessened its position in Lowe’s Companies, Inc. (NYSE:LOW) by 38.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 95,100 shares of the home improvement retailer’s stock after selling 59,592 shares during the quarter. QRG Capital Management Inc.’s holdings in Lowe’s Companies were worth $23,899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in LOW. Waterloo Capital L.P. grew its stake in shares of Lowe’s Companies by 1.2% in the second quarter. Waterloo Capital L.P. now owns 3,455 shares of the home improvement retailer’s stock worth $767,000 after acquiring an additional 41 shares during the last quarter. TruWealth Advisors LLC boosted its holdings in Lowe’s Companies by 2.7% in the 3rd quarter. TruWealth Advisors LLC now owns 1,580 shares of the home improvement retailer’s stock valued at $397,000 after purchasing an additional 42 shares during the period. Cypress Wealth Services LLC grew its position in Lowe’s Companies by 2.0% in the 3rd quarter. Cypress Wealth Services LLC now owns 2,191 shares of the home improvement retailer’s stock worth $551,000 after purchasing an additional 42 shares during the last quarter. Hidden Cove Wealth Management LLC increased its holdings in shares of Lowe’s Companies by 4.6% during the 3rd quarter. Hidden Cove Wealth Management LLC now owns 960 shares of the home improvement retailer’s stock worth $241,000 after purchasing an additional 42 shares during the period. Finally, Roble Belko & Company Inc raised its position in shares of Lowe’s Companies by 21.4% during the third quarter. Roble Belko & Company Inc now owns 250 shares of the home improvement retailer’s stock valued at $63,000 after buying an additional 44 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the sale, the chief executive officer owned 231,043 shares in the company, valued at $60,341,500.31. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Up 0.2%

Shares of LOW opened at $277.66 on Friday. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $278.44. The stock has a market capitalization of $155.75 billion, a P/E ratio of 23.02, a P/E/G ratio of 4.59 and a beta of 0.96. The company has a 50 day moving average of $245.03 and a 200-day moving average of $244.39.

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

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be paid a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.80%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. DA Davidson cut their target price on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, November 20th. UBS Group dropped their price objective on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a report on Thursday, November 20th. HSBC lowered their price target on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating for the company in a report on Friday, November 21st. Gordon Haskett raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a report on Tuesday. Finally, Telsey Advisory Group lowered their target price on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $281.92.

Lowe’s Companies Company Profile

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.