Oppenheimer Asset Management Inc. Sells 2,810 Shares of Lowe’s Companies, Inc. $LOW

Oppenheimer Asset Management Inc. reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 151,640 shares of the home improvement retailer’s stock after selling 2,810 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lowe’s Companies were worth $38,109,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of LOW. Brighton Jones LLC grew its holdings in shares of Lowe’s Companies by 119.7% in the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock worth $7,889,000 after purchasing an additional 17,413 shares during the last quarter. Revolve Wealth Partners LLC lifted its holdings in Lowe’s Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after purchasing an additional 259 shares during the last quarter. Sivia Capital Partners LLC boosted its position in Lowe’s Companies by 22.3% in the second quarter. Sivia Capital Partners LLC now owns 1,534 shares of the home improvement retailer’s stock valued at $340,000 after buying an additional 280 shares in the last quarter. Robertson Stephens Wealth Management LLC grew its stake in Lowe’s Companies by 5.1% during the second quarter. Robertson Stephens Wealth Management LLC now owns 2,358 shares of the home improvement retailer’s stock worth $523,000 after buying an additional 114 shares during the last quarter. Finally, Matrix Asset Advisors Inc. NY increased its holdings in shares of Lowe’s Companies by 54.3% during the second quarter. Matrix Asset Advisors Inc. NY now owns 60,276 shares of the home improvement retailer’s stock worth $13,373,000 after buying an additional 21,206 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

NYSE LOW opened at $278.02 on Monday. The stock has a market capitalization of $155.96 billion, a P/E ratio of 23.05, a price-to-earnings-growth ratio of 4.35 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 fifty day moving average of $257.24 and a 200-day moving average of $249.92.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.89 earnings per share. Equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared 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. The ex-dividend date was Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Lowe’s Companies’s payout ratio is currently 39.80%.

Insider Activity at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on LOW shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Lowe’s Companies in a report on Monday, December 29th. Gordon Haskett upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a research report on Tuesday, January 13th. Argus reduced their price objective on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. DA Davidson lowered their target price on 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, Robert W. Baird cut their price target on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $284.77.

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.