Lowe’s Companies, Inc. $LOW Shares Sold by Alta Capital Management LLC

Alta Capital Management LLC trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 28.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,885 shares of the home improvement retailer’s stock after selling 20,723 shares during the quarter. Alta Capital Management LLC’s holdings in Lowe’s Companies were worth $12,788,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in LOW. Howard Hughes Medical Institute purchased a new stake in Lowe’s Companies during the 2nd quarter valued at about $27,000. Solstein Capital LLC boosted its holdings in shares of Lowe’s Companies by 627.8% during the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 113 shares during the last quarter. Activest Wealth Management grew its position in shares of Lowe’s Companies by 78.5% in the third quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 51 shares in the last quarter. Traub Capital Management LLC acquired a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC lifted its position in Lowe’s Companies by 128.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 76 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the sale, the chief executive officer owned 231,043 shares of the company’s stock, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Trading Up 2.1%

Shares of NYSE:LOW opened at $274.82 on Wednesday. The company has a market capitalization of $154.16 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 4.21 and a beta of 0.97. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $281.36. The business has a 50-day moving average price of $255.20 and a 200 day moving average price of $248.85.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. During the same quarter in the prior year, the company posted $2.89 earnings per share. Lowe’s Companies’s revenue for the quarter was up 3.2% compared to the same quarter last year. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio (DPR) is 39.80%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on LOW shares. Bank of America lowered their price objective on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. JPMorgan Chase & Co. lifted their price target on Lowe’s Companies from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Jefferies Financial Group upped their price objective on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 19th. Argus cut their price objective on shares of Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a research report on Tuesday, December 2nd. Finally, UBS Group reduced their target price on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Nineteen analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $284.81.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.