Keybank National Association OH Trims Stake in Lowe’s Companies, Inc. $LOW

Keybank National Association OH cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 233,481 shares of the home improvement retailer’s stock after selling 5,934 shares during the period. Keybank National Association OH’s holdings in Lowe’s Companies were worth $58,676,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of LOW. Norges Bank bought a new position in Lowe’s Companies in the 2nd quarter valued at approximately $1,773,624,000. Tableaux LLC bought a new stake in Lowe’s Companies during the 2nd quarter worth approximately $282,884,000. Laurel Wealth Advisors LLC raised its holdings in Lowe’s Companies by 22,167.5% during the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock valued at $229,041,000 after acquiring an additional 1,027,683 shares during the period. Worldquant Millennium Advisors LLC lifted its holdings in shares of Lowe’s Companies by 243.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock worth $247,817,000 after buying an additional 791,526 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Lowe’s Companies by 101.4% in the third quarter. Robeco Institutional Asset Management B.V. now owns 1,244,941 shares of the home improvement retailer’s stock worth $312,866,000 after buying an additional 626,829 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on LOW. Robert W. Baird decreased their price objective on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Oppenheimer reduced their price objective on shares of Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a research note on Friday, December 5th. Royal Bank Of Canada cut their price target on shares of Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating on the stock in a research note on Thursday, November 20th. JPMorgan Chase & Co. upped their price objective on shares of Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Finally, Jefferies Financial Group lifted their price objective on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 19th. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $284.81.

Lowe’s Companies Price Performance

NYSE:LOW opened at $266.93 on Friday. The firm has a market capitalization of $149.73 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 4.42 and a beta of 0.96. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $281.36. The company’s 50-day moving average is $253.66 and its two-hundred day moving average is $247.66.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data 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. The firm had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.89 EPS. As a group, equities 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 dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Insider Activity

In other news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.27% of the company’s stock.

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.