Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Alta Capital Management LLC

Alta Capital Management LLC reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 4.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,124 shares of the home improvement retailer’s stock after selling 12,124 shares during the period. Lowe’s Companies makes up approximately 1.3% of Alta Capital Management LLC’s holdings, making the stock its 28th largest holding. Alta Capital Management LLC’s holdings in Lowe’s Companies were worth $39,329,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. State Street Corp lifted its stake in shares of Lowe’s Companies by 2.7% in the 1st quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock valued at $3,047,351,000 after purchasing an additional 922,369 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its stake in shares of Lowe’s Companies by 57.8% in the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 478 shares of the home improvement retailer’s stock valued at $64,000 after purchasing an additional 175 shares in the last quarter. Fulton Bank N. A. lifted its stake in shares of Lowe’s Companies by 12.0% in the 2nd quarter. Fulton Bank N. A. now owns 17,314 shares of the home improvement retailer’s stock valued at $2,340,000 after purchasing an additional 1,858 shares in the last quarter. Marotta Asset Management acquired a new position in Lowe’s Companies during the 2nd quarter worth approximately $228,000. Finally, OmniStar Financial Group Inc. lifted its position in Lowe’s Companies by 8.5% during the 2nd quarter. OmniStar Financial Group Inc. now owns 28,190 shares of the home improvement retailer’s stock worth $3,809,000 after acquiring an additional 2,217 shares in the last quarter. 74.63% of the stock is currently owned by institutional investors and hedge funds.

LOW stock traded up $4.01 during trading on Monday, reaching $162.11. 26,961 shares of the company’s stock were exchanged, compared to its average volume of 5,028,408. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 4.64. Lowe’s Companies, Inc. has a 1-year low of $60.00 and a 1-year high of $180.67. The company’s fifty day moving average price is $167.13 and its 200-day moving average price is $141.24. The firm has a market cap of $119.48 billion, a PE ratio of 21.02, a P/E/G ratio of 1.24 and a beta of 1.48.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.95 by $0.80. The business had revenue of $27.30 billion during the quarter, compared to analyst estimates of $24.24 billion. Lowe’s Companies had a return on equity of 228.17% and a net margin of 7.12%. The company’s revenue was up 30.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.15 earnings per share. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 8.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Wednesday, October 21st will be issued a $0.60 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, October 20th. This represents a $2.40 annualized dividend and a dividend yield of 1.48%. Lowe’s Companies’s dividend payout ratio is 41.96%.

Several research firms recently commented on LOW. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “strong-buy” rating and set a $187.00 price target on the stock in a research report on Monday, August 24th. Royal Bank of Canada boosted their price target on Lowe’s Companies from $165.00 to $188.00 and gave the stock an “outperform” rating in a research report on Thursday, August 20th. Piper Sandler boosted their price target on Lowe’s Companies from $170.00 to $185.00 in a research report on Thursday, August 20th. Exane BNP Paribas assumed coverage on Lowe’s Companies in a research report on Monday, October 5th. They set a “neutral” rating and a $159.00 price target on the stock. Finally, DA Davidson lifted their price objective on Lowe’s Companies from $180.00 to $185.00 in a report on Thursday, August 20th. Four analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has issued a strong buy rating to the company. Lowe’s Companies has an average rating of “Buy” and an average target price of $169.16.

In other news, EVP Ross W. Mccanless sold 62,838 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $168.33, for a total value of $10,577,520.54. Following the completion of the sale, the executive vice president now owns 72,967 shares in the company, valued at $12,282,535.11. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.07% of the company’s stock.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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