AlphaQuest LLC Sells 7,366 Shares of Lowe’s Companies, Inc. $LOW

AlphaQuest LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 80.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,819 shares of the home improvement retailer’s stock after selling 7,366 shares during the period. AlphaQuest LLC’s holdings in Lowe’s Companies were worth $457,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Howard Hughes Medical Institute bought a new position in shares of Lowe’s Companies in the second quarter valued at $27,000. Solstein Capital LLC lifted its stake in 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 during the last quarter. Activest Wealth Management grew its position in shares of 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 acquiring an additional 51 shares during the period. Traub Capital Management LLC acquired a new stake in Lowe’s Companies in the 2nd quarter valued at about $30,000. Finally, Vermillion & White Wealth Management Group LLC lifted its stake in Lowe’s Companies by 128.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 76 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.1%

Shares of NYSE:LOW opened at $278.02 on Friday. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $281.36. The company’s 50 day moving average price is $257.24 and its two-hundred day moving average price is $249.62. The firm has a market cap of $155.96 billion, a PE ratio of 23.05, a PEG ratio of 4.30 and a beta of 0.97.

Lowe’s Companies (NYSE:LOW) last released 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. The company had revenue of $20.81 billion during the quarter, compared to the consensus estimate 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 quarterly revenue was up 3.2% on a year-over-year basis. During the same period in the previous year, the business earned $2.89 earnings per share. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Insider Activity

In related news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the transaction, the chief executive officer owned 231,043 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on LOW. Sanford C. Bernstein upped their price objective on Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Wolfe Research reduced their price objective on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. JPMorgan Chase & Co. upped their price objective on shares of Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, November 20th. Wells Fargo & Company cut their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Finally, Barclays raised shares of Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 target price for the company in a report on Wednesday, January 7th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $284.81.

About Lowe’s Companies

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.