BTC Capital Management Inc. Sells 30,700 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

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BTC Capital Management Inc. trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 82.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 6,314 shares of the home improvement retailer’s stock after selling 30,700 shares during the quarter. BTC Capital Management Inc.’s holdings in Lowe’s Companies were worth $694,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the stock. Park Avenue Securities LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at $765,000. Zeke Capital Advisors LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter valued at $238,000. First Citizens Bank & Trust Co. raised its stake in shares of Lowe’s Companies by 13.1% during the 3rd quarter. First Citizens Bank & Trust Co. now owns 29,712 shares of the home improvement retailer’s stock valued at $3,268,000 after purchasing an additional 3,431 shares during the period. Cohen Klingenstein LLC raised its stake in shares of Lowe’s Companies by 84.5% during the 3rd quarter. Cohen Klingenstein LLC now owns 22,050 shares of the home improvement retailer’s stock valued at $2,425,000 after purchasing an additional 10,100 shares during the period. Finally, NEXT Financial Group Inc raised its stake in shares of Lowe’s Companies by 12.1% during the 3rd quarter. NEXT Financial Group Inc now owns 1,038 shares of the home improvement retailer’s stock valued at $114,000 after purchasing an additional 112 shares during the period. Institutional investors own 76.31% of the company’s stock.

Several equities analysts recently commented on LOW shares. Wedbush upgraded Lowe’s Companies from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $115.00 to $135.00 in a research report on Monday, September 16th. Loop Capital boosted their target price on Lowe’s Companies to $105.00 and gave the stock a “hold” rating in a research report on Thursday, August 22nd. Telsey Advisory Group boosted their target price on Lowe’s Companies from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Credit Suisse Group restated a “neutral” rating and set a $114.00 target price (up from $99.00) on shares of Lowe’s Companies in a research report on Thursday, August 22nd. Finally, UBS Group boosted their target price on Lowe’s Companies from $115.00 to $125.00 and gave the stock a “buy” rating in a research report on Thursday, August 22nd. Nine analysts have rated the stock with a hold rating and nineteen have issued a buy rating to the company’s stock. Lowe’s Companies presently has a consensus rating of “Buy” and an average target price of $120.96.

In other news, CAO Matthew V. Hollifield sold 12,136 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $112.34, for a total value of $1,363,358.24. Following the completion of the transaction, the chief accounting officer now directly owns 28,017 shares in the company, valued at approximately $3,147,429.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Jennifer L. Weber sold 12,589 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $112.62, for a total value of $1,417,773.18. Following the completion of the transaction, the executive vice president now owns 17,440 shares of the company’s stock, valued at $1,964,092.80. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by corporate insiders.

LOW opened at $112.84 on Friday. The stock has a 50-day moving average price of $111.21 and a 200-day moving average price of $105.93. Lowe’s Companies, Inc. has a 12-month low of $84.75 and a 12-month high of $118.23. The company has a current ratio of 1.06, a quick ratio of 0.19 and a debt-to-equity ratio of 7.80. The stock has a market capitalization of $86.90 billion, a P/E ratio of 21.95, a PEG ratio of 1.42 and a beta of 1.30.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.00 by $0.15. Lowe’s Companies had a return on equity of 111.09% and a net margin of 3.52%. The firm had revenue of $20.99 billion during the quarter, compared to analysts’ expectations of $20.96 billion. During the same period in the prior year, the business earned $2.07 EPS. The company’s revenue for the quarter was up .5% compared to the same quarter last year. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 5.67 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.95%. The ex-dividend date of this dividend is Tuesday, October 22nd. Lowe’s Companies’s payout ratio is currently 42.80%.

About Lowe’s Companies

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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