Alta Capital Management LLC Cuts Stock Position in Lowe’s Companies, Inc. $LOW

Alta Capital Management LLC lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 28.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 50,885 shares of the home improvement retailer’s stock after selling 20,723 shares during the quarter. Alta Capital Management LLC’s holdings in Lowe’s Companies were worth $12,788,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Activest Wealth Management boosted its position in 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 buying an additional 51 shares during the period. Howard Hughes Medical Institute acquired a new stake in shares of Lowe’s Companies in the second quarter valued at $27,000. Solstein Capital LLC raised its stake in shares of Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 113 shares in the last quarter. Traub Capital Management LLC purchased a new position in Lowe’s Companies in the second quarter valued at $30,000. Finally, Vermillion & White Wealth Management Group LLC grew its stake in Lowe’s Companies by 128.8% during 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 in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Jefferies Financial Group increased their price target on Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a research report on Friday, December 19th. UBS Group cut their target price on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Wolfe Research reduced their target price on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. DA Davidson decreased their price target 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, Argus dropped their price objective on shares of Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating on the stock in a research report on Tuesday, December 2nd. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $284.81.

Lowe’s Companies Stock Up 2.1%

Shares of LOW opened at $274.82 on Wednesday. The company has a market capitalization of $154.16 billion, a price-to-earnings ratio of 22.79, a price-to-earnings-growth ratio of 4.21 and a beta of 0.97. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $281.36. The stock has a 50 day moving average price of $255.20 and a 200 day moving average price of $248.85.

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 for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same quarter last year, the company earned $2.89 earnings per share. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. Lowe’s Companies’s payout ratio is 39.80%.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the transaction, the chief executive officer owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies 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.