Carret Asset Management LLC Reduces Stake in Lowe’s Companies, Inc. (LOW)

Carret Asset Management LLC lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 9.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,977 shares of the home improvement retailer’s stock after selling 1,050 shares during the period. Carret Asset Management LLC’s holdings in Lowe’s Companies were worth $774,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Meiji Yasuda Life Insurance Co raised its holdings in shares of Lowe’s Companies by 2.2% in the 1st quarter. Meiji Yasuda Life Insurance Co now owns 9,497 shares of the home improvement retailer’s stock worth $781,000 after acquiring an additional 200 shares during the last quarter. Quantum Capital Management raised its holdings in shares of Lowe’s Companies by 23.6% in the 1st quarter. Quantum Capital Management now owns 17,240 shares of the home improvement retailer’s stock worth $1,417,000 after acquiring an additional 3,297 shares during the last quarter. Folger Nolan Fleming Douglas Capital Management Inc. raised its holdings in shares of Lowe’s Companies by 0.4% in the 1st quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 138,725 shares of the home improvement retailer’s stock worth $11,404,000 after acquiring an additional 540 shares during the last quarter. Ronald Blue & Co. LLC acquired a new stake in shares of Lowe’s Companies in the 1st quarter worth about $240,000. Finally, Prudential Financial Inc. raised its holdings in shares of Lowe’s Companies by 11.4% in the 1st quarter. Prudential Financial Inc. now owns 1,370,277 shares of the home improvement retailer’s stock worth $112,650,000 after acquiring an additional 140,700 shares during the last quarter. Hedge funds and other institutional investors own 74.00% of the company’s stock.

A number of research firms recently weighed in on LOW. BidaskClub upgraded shares of Lowe’s Companies from a “strong sell” rating to a “sell” rating in a report on Wednesday, August 2nd. Piper Jaffray Companies restated a “hold” rating and issued a $80.00 target price on shares of Lowe’s Companies in a report on Friday, September 29th. Robert W. Baird set a $87.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Thursday, August 24th. Zacks Investment Research upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $88.00 target price on the stock in a report on Friday, August 11th. Finally, SunTrust Banks, Inc. restated a “hold” rating and issued a $80.00 target price on shares of Lowe’s Companies in a report on Friday, November 10th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $85.62.

In other Lowe’s Companies news, insider Paul D. Ramsay sold 2,098 shares of the stock in a transaction that occurred on Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total value of $163,685.96. Following the sale, the insider now directly owns 8,400 shares in the company, valued at approximately $655,368. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the sale, the senior vice president now owns 30,750 shares in the company, valued at $2,407,725. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

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Shares of Lowe’s Companies, Inc. (LOW) opened at $81.46 on Tuesday. The company has a market cap of $67,840.00, a P/E ratio of 18.48, a P/E/G ratio of 1.29 and a beta of 1.13. The company has a debt-to-equity ratio of 2.85, a quick ratio of 0.19 and a current ratio of 1.03. Lowe’s Companies, Inc. has a 52 week low of $68.83 and a 52 week high of $86.25.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 EPS for the quarter, missing the Zacks’ consensus estimate of $1.62 by ($0.05). The business had revenue of $19.50 billion for the quarter, compared to analysts’ expectations of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The business’s quarterly revenue was up 6.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.37 earnings per share. research analysts predict that Lowe’s Companies, Inc. will post 4.5 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be paid a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 2.01%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe’s Companies’s payout ratio is currently 46.20%.

Lowe’s Companies Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.

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

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