Intech Investment Management LLC Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Intech Investment Management LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.3% in the third quarter, HoldingsChannel.com reports. The firm owned 17,416 shares of the home improvement retailer’s stock after selling 413 shares during the quarter. Intech Investment Management LLC’s holdings in Lowe’s Companies were worth $4,717,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Bamco Inc. NY grew its position in shares of Lowe’s Companies by 10.3% in the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after buying an additional 20,181 shares during the last quarter. Plato Investment Management Ltd grew its holdings in shares of Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after purchasing an additional 5,470 shares during the last quarter. HM Payson & Co. increased its position in shares of Lowe’s Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after purchasing an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC lifted its holdings in shares of Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after purchasing an additional 2,889 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its position in shares of Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after purchasing an additional 20,123 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the topic of several research analyst reports. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their target price for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Morgan Stanley increased their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Bank of America lifted their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $264.63 on Friday. The stock has a market cap of $150.12 billion, a PE ratio of 22.07, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $196.23 and a 1 year high of $287.01. The stock has a fifty day moving average price of $268.74 and a 200 day moving average price of $244.73.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the firm earned $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.82 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.74%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 38.37%.

About Lowe’s Companies

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also 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, and electrical.