Mackay Shields LLC Cuts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Mackay Shields LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 45.2% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 111,890 shares of the home improvement retailer’s stock after selling 92,373 shares during the period. Mackay Shields LLC’s holdings in Lowe’s Companies were worth $21,703,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its stake in Lowe’s Companies by 9.1% in the first quarter. Massachusetts Financial Services Co. MA now owns 7,053,442 shares of the home improvement retailer’s stock valued at $1,341,424,000 after purchasing an additional 586,207 shares during the last quarter. Lazard Asset Management LLC lifted its stake in Lowe’s Companies by 1.9% in the first quarter. Lazard Asset Management LLC now owns 6,626,477 shares of the home improvement retailer’s stock valued at $1,260,221,000 after purchasing an additional 123,752 shares during the last quarter. Legal & General Group Plc lifted its stake in Lowe’s Companies by 2.4% in the second quarter. Legal & General Group Plc now owns 5,079,252 shares of the home improvement retailer’s stock valued at $985,222,000 after purchasing an additional 116,801 shares during the last quarter. Franklin Resources Inc. lifted its stake in Lowe’s Companies by 2.9% in the first quarter. Franklin Resources Inc. now owns 4,354,645 shares of the home improvement retailer’s stock valued at $828,166,000 after purchasing an additional 121,854 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its stake in Lowe’s Companies by 46.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,075,093 shares of the home improvement retailer’s stock valued at $584,821,000 after purchasing an additional 973,815 shares during the last quarter. Hedge funds and other institutional investors own 72.80% of the company’s stock.

LOW traded up $3.99 on Thursday, hitting $216.11. The company had a trading volume of 166,957 shares, compared to its average volume of 3,846,964. The company has a debt-to-equity ratio of 49.23, a current ratio of 1.16 and a quick ratio of 0.36. Lowe’s Companies, Inc. has a 52-week low of $146.72 and a 52-week high of $215.22. The stock has a fifty day simple moving average of $203.06 and a 200-day simple moving average of $197.92. The firm has a market capitalization of $149.64 billion, a P/E ratio of 21.89, a P/E/G ratio of 1.26 and a beta of 1.34.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 17th. The home improvement retailer reported $4.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.01 by $0.24. The company had revenue of $27.57 billion during the quarter, compared to the consensus estimate of $26.76 billion. Lowe’s Companies had a net margin of 7.41% and a return on equity of 541.39%. The firm’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same quarter last year, the firm earned $3.75 earnings per share. Equities research analysts expect that Lowe’s Companies, Inc. will post 11.26 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 3rd. Shareholders of record on Wednesday, October 20th will be given a $0.80 dividend. This represents a $3.20 dividend on an annualized basis and a yield of 1.48%. The ex-dividend date is Tuesday, October 19th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.12%.

Several equities analysts recently commented on LOW shares. Zacks Investment Research downgraded Lowe’s Companies from a “hold” rating to a “sell” rating and set a $205.00 price objective on the stock. in a research note on Wednesday, July 28th. TheStreet downgraded Lowe’s Companies from a “b” rating to a “c+” rating in a research note on Wednesday, August 18th. Wedbush downgraded Lowe’s Companies from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $225.00 to $210.00 in a research report on Monday, July 26th. Loop Capital downgraded Lowe’s Companies from a “buy” rating to a “hold” rating and set a $220.00 target price on the stock. in a research report on Friday, October 8th. Finally, Credit Suisse Group increased their target price on Lowe’s Companies from $208.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, August 19th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have issued a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Buy” and a consensus price target of $221.71.

Lowe’s Companies Profile

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

See Also: Debt-To-Equity Ratio

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

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