Stoneridge Investment Partners LLC Sells 6,419 Shares of Lowe’s Companies, Inc. (LOW)

Stoneridge Investment Partners LLC lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 10.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 57,351 shares of the home improvement retailer’s stock after selling 6,419 shares during the quarter. Stoneridge Investment Partners LLC’s holdings in Lowe’s Companies were worth $4,585,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in Lowe’s Companies by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock worth $5,250,843,000 after acquiring an additional 2,650,045 shares during the last quarter. Blue Edge Capital LLC purchased a new position in Lowe’s Companies during the 1st quarter worth $727,000. Sumitomo Mitsui Asset Management Company LTD boosted its holdings in Lowe’s Companies by 11.8% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 105,471 shares of the home improvement retailer’s stock worth $8,177,000 after acquiring an additional 11,119 shares during the last quarter. Summit Global Investments purchased a new position in Lowe’s Companies during the 2nd quarter worth $1,421,000. Finally, Ffcm LLC boosted its holdings in Lowe’s Companies by 6.4% during the 2nd quarter. Ffcm LLC now owns 30,895 shares of the home improvement retailer’s stock worth $2,395,000 after acquiring an additional 1,853 shares during the last quarter. Institutional investors and hedge funds own 73.40% of the company’s stock.

In other news, SVP Matthew V. Hollifield sold 7,853 shares of the company’s stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the sale, the senior vice president now directly owns 30,750 shares in the company, valued at $2,407,725. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul D. Ramsay sold 2,098 shares of the company’s stock in a transaction dated 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 owns 8,400 shares in the company, valued at $655,368. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 13,303 shares of company stock worth $1,047,406. Insiders own 0.11% of the company’s stock.

LOW has been the topic of a number of analyst reports. BTIG Research reaffirmed a “buy” rating and set a $95.00 price objective on shares of Lowe’s Companies in a report on Friday, August 18th. Credit Suisse Group reaffirmed an “outperform” rating and set a $94.00 price objective on shares of Lowe’s Companies in a report on Monday, August 21st. They noted that the move was a valuation call. Oppenheimer set a $100.00 price target on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Wednesday, August 23rd. BMO Capital Markets downgraded shares of Lowe’s Companies from an “outperform” rating to a “market perform” rating and cut their price target for the stock from $89.00 to $82.00 in a report on Wednesday, August 23rd. Finally, Royal Bank of Canada cut their price target on shares of Lowe’s Companies from $85.00 to $81.00 and set an “outperform” rating on the stock in a report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and seventeen have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $87.66.

Lowe’s Companies, Inc. (NYSE:LOW) traded up $1.11 during midday trading on Friday, reaching $86.69. 7,932,880 shares of the company’s stock traded hands, compared to its average volume of 7,658,115. The stock has a market capitalization of $71,010.91, a P/E ratio of 18.98, a PEG ratio of 1.29 and a beta of 1.15. Lowe’s Companies, Inc. has a 1-year low of $70.49 and a 1-year high of $88.55. The company has a debt-to-equity ratio of 2.71, a quick ratio of 0.12 and a current ratio of 1.02.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.03. The business had revenue of $16.77 billion for the quarter, compared to the consensus estimate of $16.59 billion. Lowe’s Companies had a net margin of 5.16% and a return on equity of 66.27%. The company’s revenue was up 6.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. equities research analysts expect that Lowe’s Companies, Inc. will post 4.51 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be issued a dividend of $0.41 per share. This represents a $1.64 annualized dividend and a yield of 1.89%. The ex-dividend date is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 39.33%.

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Lowe’s Companies Company 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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