Pinnacle Associates Ltd. Grows Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Pinnacle Associates Ltd. boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 24,506 shares of the home improvement retailer’s stock after buying an additional 179 shares during the period. Pinnacle Associates Ltd.’s holdings in Lowe’s Companies were worth $2,473,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Comerica Securities Inc. increased its holdings in shares of Lowe’s Companies by 6.3% during the 4th quarter. Comerica Securities Inc. now owns 13,753 shares of the home improvement retailer’s stock valued at $1,270,000 after acquiring an additional 818 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in Lowe’s Companies by 1.9% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,615,529 shares of the home improvement retailer’s stock valued at $241,571,000 after purchasing an additional 48,995 shares during the period. Geode Capital Management LLC boosted its stake in Lowe’s Companies by 7.6% during the 4th quarter. Geode Capital Management LLC now owns 10,336,009 shares of the home improvement retailer’s stock valued at $952,946,000 after purchasing an additional 728,740 shares during the period. Pennsylvania Trust Co boosted its stake in Lowe’s Companies by 14.1% during the 1st quarter. Pennsylvania Trust Co now owns 15,275 shares of the home improvement retailer’s stock valued at $1,672,000 after purchasing an additional 1,883 shares during the period. Finally, Brookstone Capital Management boosted its stake in Lowe’s Companies by 12.3% during the 1st quarter. Brookstone Capital Management now owns 8,166 shares of the home improvement retailer’s stock valued at $894,000 after purchasing an additional 897 shares during the period. Institutional investors and hedge funds own 75.85% of the company’s stock.

In related news, insider Marvin R. Ellison bought 10,000 shares of the business’s stock in a transaction that occurred on Friday, May 24th. The stock was acquired at an average price of $95.05 per share, for a total transaction of $950,500.00. Following the transaction, the insider now directly owns 80,090 shares of the company’s stock, valued at $7,612,554.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Donald Frieson bought 2,030 shares of the business’s stock in a transaction that occurred on Wednesday, June 19th. The shares were bought at an average price of $98.69 per share, with a total value of $200,340.70. Following the transaction, the executive vice president now directly owns 10,980 shares in the company, valued at $1,083,616.20. The disclosure for this purchase can be found here. Insiders have purchased a total of 12,280 shares of company stock valued at $1,174,566 in the last 90 days. 0.07% of the stock is owned by corporate insiders.

Several brokerages recently weighed in on LOW. Bank of America set a $135.00 target price on Lowe’s Companies and gave the company a “buy” rating in a research note on Monday, May 27th. Gabelli restated a “buy” rating on shares of Lowe’s Companies in a research note on Thursday, May 23rd. ValuEngine downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, July 24th. Cfra reiterated a “hold” rating and issued a $105.00 price objective on shares of Lowe’s Companies in a research report on Friday, June 14th. Finally, Zacks Investment Research upgraded Lowe’s Companies from a “sell” rating to a “hold” rating in a research report on Thursday, May 16th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Lowe’s Companies has a consensus rating of “Buy” and a consensus target price of $114.29.

Shares of Lowe’s Companies stock traded down $0.06 during midday trading on Thursday, hitting $107.94. 497,038 shares of the company were exchanged, compared to its average volume of 4,716,743. The company has a debt-to-equity ratio of 6.37, a current ratio of 1.09 and a quick ratio of 0.24. The firm has a market cap of $74.42 billion, a P/E ratio of 21.00, a PEG ratio of 1.25 and a beta of 1.36. Lowe’s Companies, Inc. has a 52 week low of $84.75 and a 52 week high of $118.23. The firm has a 50 day simple moving average of $101.52 and a 200-day simple moving average of $103.63.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.00 by $0.15. The business had revenue of $20.99 billion during the quarter, compared to the consensus estimate of $20.96 billion. Lowe’s Companies had a return on equity of 91.85% and a net margin of 3.31%. Lowe’s Companies’s revenue was up .5% on a year-over-year basis. During the same quarter last year, the company earned $2.07 EPS. Equities research analysts expect that Lowe’s Companies, Inc. will post 5.58 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $2.20 annualized dividend and a dividend yield of 2.04%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 42.80%.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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

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