First Interstate Bank Sells 13,023 Shares of Lowe’s Companies, Inc. $LOW

First Interstate Bank lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 36.7% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 22,484 shares of the home improvement retailer’s stock after selling 13,023 shares during the quarter. First Interstate Bank’s holdings in Lowe’s Companies were worth $5,650,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Lowe’s Companies by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock valued at $12,197,604,000 after purchasing an additional 366,977 shares during the period. State Street Corp boosted its holdings in shares of Lowe’s Companies by 0.8% in the second quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock worth $5,527,176,000 after buying an additional 207,826 shares during the last quarter. Geode Capital Management LLC grew its position in Lowe’s Companies by 0.3% during the second quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock valued at $2,732,049,000 after buying an additional 42,190 shares during the period. Norges Bank bought a new stake in Lowe’s Companies during the second quarter valued at approximately $1,773,624,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Lowe’s Companies by 1.0% during the second quarter. Charles Schwab Investment Management Inc. now owns 3,536,122 shares of the home improvement retailer’s stock valued at $784,559,000 after buying an additional 34,382 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $261.17, for a total transaction 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. This represents a 7.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. Argus reduced their price objective on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Sanford C. Bernstein boosted 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. HSBC decreased their price objective on Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research note on Friday, November 21st. Cowen reiterated a “hold” rating on shares of Lowe’s Companies in a research note on Tuesday. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Lowe’s Companies in a research note on Monday, December 29th. Nineteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $283.65.

Lowe’s Companies Trading Down 3.3%

Shares of LOW opened at $268.45 on Wednesday. The business’s 50 day moving average is $246.58 and its 200 day moving average is $245.27. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $278.44. The company has a market capitalization of $150.58 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 4.60 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (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 business had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. During the same period last year, the firm posted $2.89 EPS. The company’s revenue was up 3.2% on a year-over-year basis. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be paid a $1.20 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a yield of 1.8%. Lowe’s Companies’s payout ratio is presently 39.80%.

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.