Midwest Investment Management LLC Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Midwest Investment Management LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 25,843 shares of the home improvement retailer’s stock after selling 1,175 shares during the period. Lowe’s Companies makes up about 1.8% of Midwest Investment Management LLC’s investment portfolio, making the stock its 23rd largest position. Midwest Investment Management LLC’s holdings in Lowe’s Companies were worth $2,124,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Catawba Capital Management VA raised its stake in Lowe’s Companies by 0.9% in the first quarter. Catawba Capital Management VA now owns 118,377 shares of the home improvement retailer’s stock worth $9,732,000 after buying an additional 1,017 shares during the last quarter. Fulton Bank N.A. purchased a new stake in Lowe’s Companies during the first quarter worth $334,000. Watch Point Trust Co raised its stake in Lowe’s Companies by 2.0% in the first quarter. Watch Point Trust Co now owns 20,502 shares of the home improvement retailer’s stock worth $1,685,000 after buying an additional 407 shares during the last quarter. Peachtree Investment Advisors Inc. raised its stake in Lowe’s Companies by 0.7% in the first quarter. Peachtree Investment Advisors Inc. now owns 29,967 shares of the home improvement retailer’s stock worth $2,464,000 after buying an additional 210 shares during the last quarter. Finally, Chevy Chase Trust Holdings Inc. raised its stake in Lowe’s Companies by 2.7% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 752,434 shares of the home improvement retailer’s stock worth $61,858,000 after buying an additional 19,546 shares during the last quarter. 74.65% of the stock is owned by institutional investors.

Lowe’s Companies, Inc. (NYSE LOW) traded down 0.65% during trading on Friday, reaching $73.64. 5,153,649 shares of the company’s stock traded hands. Lowe’s Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $86.25. The company has a market capitalization of $62.17 billion, a price-to-earnings ratio of 23.09 and a beta of 1.08. The firm’s 50 day moving average is $76.47 and its 200-day moving average is $79.47.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. The company had revenue of $16.86 billion for the quarter, compared to analyst estimates of $16.99 billion. Lowe’s Companies had a return on equity of 56.78% and a net margin of 4.22%. The firm’s quarterly revenue was up 10.7% on a year-over-year basis. During the same quarter last year, the company earned $0.87 EPS. Analysts expect that Lowe’s Companies, Inc. will post $4.62 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be given a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 2.23%. Lowe’s Companies’s dividend payout ratio (DPR) is 51.57%.

COPYRIGHT VIOLATION WARNING: This news story was reported by BNB Daily and is the sole property of of BNB Daily. If you are accessing this news story on another domain, it was illegally stolen and republished in violation of international copyright laws. The legal version of this news story can be read at https://www.baseball-news-blog.com/2017/08/19/lowes-companies-inc-nyselow-position-decreased-by-midwest-investment-management-llc-updated-updated.html.

A number of equities research analysts recently weighed in on LOW shares. BMO Capital Markets reaffirmed a “buy” rating and set a $89.00 price target on shares of Lowe’s Companies in a report on Thursday, July 20th. Jefferies Group LLC raised their price target on shares of Lowe’s Companies from $80.00 to $94.00 and gave the company a “hold” rating in a report on Friday, May 12th. Longbow Research reaffirmed a “buy” rating and set a $95.00 price target on shares of Lowe’s Companies in a report on Monday, August 14th. Stifel Nicolaus lowered their price target on shares of Lowe’s Companies from $89.00 to $87.00 and set a “buy” rating for the company in a report on Thursday, May 25th. Finally, Zacks Investment Research lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have given a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $85.69.

In related news, insider Richard D. Maltsbarger sold 11,672 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total transaction of $936,094.40. Following the transaction, the insider now owns 37,716 shares in the company, valued at approximately $3,024,823.20. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.11% of the stock is owned by corporate insiders.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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

Receive News & Ratings for Lowe's Companies Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply