New York Life Investment Management LLC Trims Holdings in Lowe’s Companies, Inc. $LOW

New York Life Investment Management LLC cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 81,787 shares of the home improvement retailer’s stock after selling 2,064 shares during the quarter. New York Life Investment Management LLC’s holdings in Lowe’s Companies were worth $20,554,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Howard Hughes Medical Institute acquired a new position in Lowe’s Companies during the 2nd quarter worth approximately $27,000. Solstein Capital LLC grew its position in Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 113 shares in the last quarter. Activest Wealth Management raised its stake in shares of Lowe’s Companies by 78.5% during 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 during the period. Traub Capital Management LLC acquired a new position in shares of Lowe’s Companies during the second quarter worth $30,000. Finally, Vermillion & White Wealth Management Group LLC lifted its position in shares of 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 purchasing an additional 76 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In related news, CEO Marvin R. Ellison sold 18,000 shares of the firm’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 approximately $60,341,500.31. This trade represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Mizuho lowered their price target on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. UBS Group decreased their price objective on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Robert W. Baird lowered their target price on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Jefferies Financial Group lifted their target price on Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Finally, Sanford C. Bernstein increased their price target on Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a report on Thursday, November 20th. Nineteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $284.77.

Lowe’s Companies Trading Up 1.1%

LOW stock opened at $278.02 on Monday. The stock’s 50 day simple moving average is $257.24 and its 200 day simple moving average is $249.92. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $281.36. The firm has a market cap of $155.96 billion, a P/E ratio of 23.05, a P/E/G ratio of 4.35 and a beta of 0.97.

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

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Lowe’s Companies 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.