PineStone Asset Management Inc. Has $244.44 Million Position in Lowe’s Companies, Inc. $LOW

PineStone Asset Management Inc. cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 972,650 shares of the home improvement retailer’s stock after selling 17,050 shares during the quarter. Lowe’s Companies makes up 1.5% of PineStone Asset Management Inc.’s portfolio, making the stock its 22nd biggest holding. PineStone Asset Management Inc. owned 0.17% of Lowe’s Companies worth $244,437,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Howard Hughes Medical Institute acquired a new position in Lowe’s Companies in the 2nd quarter worth about $27,000. Solstein Capital LLC lifted its holdings in shares of Lowe’s Companies by 627.8% during the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 113 shares during the last quarter. Traub Capital Management LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter valued at approximately $30,000. Vermillion & White Wealth Management Group LLC grew its stake in shares of Lowe’s Companies by 128.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after buying an additional 76 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new position in Lowe’s Companies in the second quarter worth approximately $33,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 0.6%

NYSE LOW opened at $244.55 on Friday. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $274.98. The company has a fifty day simple moving average of $239.87 and a 200 day simple moving average of $240.49. The company has a market cap of $137.18 billion, a P/E ratio of 20.28, a P/E/G ratio of 4.05 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. During the same quarter in the previous year, the business earned $2.89 EPS. The business’s revenue was up 3.2% on a year-over-year basis. Equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s payout ratio is currently 39.80%.

Analyst Ratings Changes

A number of research firms have issued reports on LOW. DA Davidson reduced their target price on shares of 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. Wall Street Zen upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Mizuho reduced their price objective on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Evercore ISI reiterated a “positive” rating on shares of Lowe’s Companies in a report on Thursday, November 20th. Finally, Sanford C. Bernstein increased their target price on shares of Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Seventeen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $276.80.

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.