Cim Investment Management Inc. Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cim Investment Management Inc. lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,292 shares of the home improvement retailer’s stock after selling 103 shares during the period. Cim Investment Management Inc.’s holdings in Lowe’s Companies were worth $1,026,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in LOW. RE Advisers Corp purchased a new stake in Lowe’s Companies during the 2nd quarter valued at $29,000. USA Financial Portformulas Corp boosted its position in Lowe’s Companies by 1,505.6% during the 2nd quarter. USA Financial Portformulas Corp now owns 289 shares of the home improvement retailer’s stock valued at $56,000 after buying an additional 271 shares during the period. Twin Lakes Capital Management LLC purchased a new stake in Lowe’s Companies during the 1st quarter valued at $57,000. MV Capital Management Inc. boosted its position in Lowe’s Companies by 36.6% during the 2nd quarter. MV Capital Management Inc. now owns 332 shares of the home improvement retailer’s stock valued at $64,000 after buying an additional 89 shares during the period. Finally, Cowen Prime Advisors LLC purchased a new stake in Lowe’s Companies during the 2nd quarter valued at $66,000. 72.80% of the stock is owned by institutional investors and hedge funds.

NYSE:LOW traded up $3.74 on Thursday, reaching $215.86. 175,436 shares of the stock traded hands, compared to its average volume of 3,846,964. The company has a market capitalization of $149.47 billion, a price-to-earnings ratio of 21.89, a PEG ratio of 1.26 and a beta of 1.34. The company has a current ratio of 1.16, a quick ratio of 0.36 and a debt-to-equity ratio of 49.23. Lowe’s Companies, Inc. has a 12 month low of $146.72 and a 12 month high of $215.22. The company’s fifty day simple moving average is $203.06 and its 200 day simple moving average is $197.92.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 17th. The home improvement retailer reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $4.01 by $0.24. The business had revenue of $27.57 billion during the quarter, compared to analyst estimates of $26.76 billion. Lowe’s Companies had a net margin of 7.41% and a return on equity of 541.39%. Lowe’s Companies’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $3.75 EPS. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.26 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 3rd. Stockholders of record on Wednesday, October 20th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, October 19th. Lowe’s Companies’s payout ratio is presently 36.12%.

Several research analysts have commented on LOW shares. TheStreet lowered shares of Lowe’s Companies from a “b” rating to a “c+” rating in a report on Wednesday, August 18th. Loop Capital lowered shares of Lowe’s Companies from a “buy” rating to a “hold” rating and set a $220.00 price objective for the company. in a report on Friday, October 8th. DA Davidson restated a “buy” rating on shares of Lowe’s Companies in a report on Thursday, August 19th. Zacks Investment Research lowered shares of Lowe’s Companies from a “hold” rating to a “sell” rating and set a $205.00 price objective for the company. in a report on Wednesday, July 28th. Finally, Credit Suisse Group upped their price objective on shares of Lowe’s Companies from $208.00 to $220.00 and gave the stock an “outperform” rating in a report on Thursday, August 19th. One research analyst has rated the stock with a sell rating, four have given a hold rating and nineteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $221.71.

Lowe’s Companies Profile

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

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

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