Allworth Financial LP Acquires 3,210 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Allworth Financial LP lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOWGet Rating) by 48.1% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 9,890 shares of the home improvement retailer’s stock after purchasing an additional 3,210 shares during the quarter. Allworth Financial LP’s holdings in Lowe’s Companies were worth $1,728,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the business. Sargent Bickham Lagudis LLC raised its holdings in shares of Lowe’s Companies by 10.8% in the second quarter. Sargent Bickham Lagudis LLC now owns 1,410 shares of the home improvement retailer’s stock valued at $246,000 after buying an additional 137 shares during the last quarter. Martin Capital Advisors LLP bought a new stake in Lowe’s Companies during the 2nd quarter worth about $634,000. Wallington Asset Management LLC raised its holdings in Lowe’s Companies by 0.4% during the 2nd quarter. Wallington Asset Management LLC now owns 42,840 shares of the home improvement retailer’s stock worth $7,483,000 after purchasing an additional 188 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Lowe’s Companies by 5.5% during the 2nd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 45,990 shares of the home improvement retailer’s stock worth $8,033,000 after purchasing an additional 2,410 shares during the last quarter. Finally, First Affirmative Financial Network raised its holdings in Lowe’s Companies by 11.6% during the 2nd quarter. First Affirmative Financial Network now owns 1,781 shares of the home improvement retailer’s stock worth $311,000 after purchasing an additional 185 shares during the last quarter. 74.04% of the stock is owned by institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Seemantini Godbole sold 11,761 shares of the business’s stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $214.37, for a total value of $2,521,205.57. Following the sale, the executive vice president now owns 26,575 shares in the company, valued at approximately $5,696,882.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.24% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the subject of several recent research reports. Wells Fargo & Company boosted their price objective on Lowe’s Companies from $220.00 to $245.00 in a report on Wednesday, August 17th. Evercore ISI boosted their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Morgan Stanley dropped their price objective on Lowe’s Companies from $280.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, July 20th. JPMorgan Chase & Co. decreased their target price on Lowe’s Companies from $230.00 to $210.00 and set a “neutral” rating for the company in a research report on Tuesday, August 9th. Finally, StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.05.

Lowe’s Companies Stock Performance

Shares of LOW opened at $188.12 on Friday. The stock has a 50 day simple moving average of $198.00 and a 200 day simple moving average of $197.74. Lowe’s Companies, Inc. has a 52-week low of $170.12 and a 52-week high of $263.31. The firm has a market capitalization of $116.77 billion, a PE ratio of 14.82, a P/E/G ratio of 1.08 and a beta of 1.22.

Lowe’s Companies (NYSE:LOWGet Rating) last released its earnings results on Wednesday, August 17th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.59 by $0.08. The firm had revenue of $27.48 billion for the quarter, compared to analysts’ expectations of $28.16 billion. Lowe’s Companies had a negative return on equity of 155.26% and a net margin of 8.83%. The business’s quarterly revenue was down .3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.25 EPS. Equities research analysts predict that Lowe’s Companies, Inc. will post 13.51 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 2nd. Shareholders of record on Wednesday, October 19th will be paid a $1.05 dividend. This represents a $4.20 annualized dividend and a yield of 2.23%. The ex-dividend date of this dividend is Tuesday, October 18th. Lowe’s Companies’s payout ratio is 33.10%.

Lowe’s Companies Company Profile

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

Further Reading

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

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