ABC Arbitrage SA Acquires 10,359 Shares of Lowe’s Companies, Inc. $LOW

ABC Arbitrage SA raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 110.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,744 shares of the home improvement retailer’s stock after purchasing an additional 10,359 shares during the quarter. ABC Arbitrage SA’s holdings in Lowe’s Companies were worth $4,962,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Howard Hughes Medical Institute bought a new position in shares of Lowe’s Companies in the 2nd quarter valued at about $27,000. Solstein Capital LLC raised its position in Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 113 shares during the period. Activest Wealth Management lifted its stake in shares of Lowe’s Companies by 78.5% in the 3rd 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 last quarter. Traub Capital Management LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC boosted its holdings in shares of Lowe’s Companies by 128.8% in the 2nd 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 during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the transaction, 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 filing with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

Lowe’s Companies Trading Up 2.7%

Shares of Lowe’s Companies stock opened at $284.30 on Wednesday. The firm has a market cap of $159.48 billion, a P/E ratio of 23.57, a P/E/G ratio of 4.33 and a beta of 0.97. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $285.73. The stock’s fifty day moving average price is $258.68 and its 200-day moving average price is $250.69.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The company 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 period in the prior year, the firm earned $2.89 earnings per share. Analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

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

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Wells Fargo & Company lowered their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. JPMorgan Chase & Co. increased their target price on shares of Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Robert W. Baird dropped their price target on shares of 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. TD Cowen increased their price objective on shares of Lowe’s Companies from $250.00 to $295.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Finally, HSBC decreased their price objective on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating for the company in a research note on Friday, November 21st. Nineteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.77.

About Lowe’s Companies

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.