Lowe’s Companies, Inc. $LOW Shares Sold by Berkeley Inc

Berkeley Inc reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.5% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 48,912 shares of the home improvement retailer’s stock after selling 2,316 shares during the period. Lowe’s Companies makes up 4.0% of Berkeley Inc’s investment portfolio, making the stock its 7th largest position. Berkeley Inc’s holdings in Lowe’s Companies were worth $12,292,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. SeaBridge Investment Advisors LLC increased its position in shares of Lowe’s Companies by 3.7% during the second quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after purchasing an additional 465 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Lowe’s Companies by 2.6% in the 2nd quarter. QRG Capital Management Inc. now owns 154,692 shares of the home improvement retailer’s stock valued at $34,322,000 after purchasing an additional 3,947 shares during the period. First Pacific Financial grew its stake in Lowe’s Companies by 147.3% during the 2nd quarter. First Pacific Financial now owns 2,752 shares of the home improvement retailer’s stock worth $611,000 after buying an additional 1,639 shares during the last quarter. Prudential Financial Inc. increased its position in Lowe’s Companies by 0.7% during the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock worth $183,344,000 after buying an additional 5,820 shares during the period. Finally, Jennison Associates LLC lifted its stake in Lowe’s Companies by 22.0% in the second quarter. Jennison Associates LLC now owns 497,628 shares of the home improvement retailer’s stock valued at $110,409,000 after buying an additional 89,839 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $268.45 on Wednesday. The stock has a fifty day moving average price of $246.58 and a 200 day moving average price of $245.27. The stock has a market cap of $150.58 billion, a PE ratio of 22.26, a P/E/G ratio of 4.60 and a beta of 0.96. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $278.44.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The business had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. During the same quarter last year, the business posted $2.89 earnings per share. The business’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be given a dividend of $1.20 per share. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.8%. Lowe’s Companies’s payout ratio is presently 39.80%.

Wall Street Analyst Weigh In

LOW has been the topic of a number of research reports. Oppenheimer lowered their target price on shares of Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Bank of America lowered their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Barclays upgraded shares of Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price objective on the stock in a research note on Wednesday, January 7th. DA Davidson decreased their target price on shares of Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a research note on Thursday, November 20th. Finally, JPMorgan Chase & Co. boosted their price target on Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a research report on Thursday, November 20th. Nineteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $283.65.

Insider Activity

In other news, CEO Marvin R. Ellison sold 18,000 shares of the 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 sale, the chief executive officer directly owned 231,043 shares in the company, valued at $60,341,500.31. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by company insiders.

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.