Xponance Inc. Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Xponance Inc. lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 31.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 85,540 shares of the home improvement retailer’s stock after selling 39,182 shares during the quarter. Xponance Inc.’s holdings in Lowe’s Companies were worth $18,858,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Voisard Asset Management Group Inc. purchased a new stake in Lowe’s Companies in the fourth quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies in the fourth quarter valued at approximately $31,000. Stephens Consulting LLC raised its position in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the period. Keener Financial Planning LLC purchased a new stake in Lowe’s Companies in the first quarter valued at approximately $35,000. Finally, Raleigh Capital Management Inc. raised its position in Lowe’s Companies by 48.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 183 shares of the home improvement retailer’s stock valued at $41,000 after purchasing an additional 60 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW opened at $260.14 on Monday. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The company has a market capitalization of $148.24 billion, a PE ratio of 20.89, a P/E/G ratio of 2.03 and a beta of 1.10. The company has a fifty day moving average of $243.58 and a two-hundred day moving average of $235.32.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the prior year, the firm posted $4.56 earnings per share. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.77%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analysts Set New Price Targets

A number of analysts have issued reports on LOW shares. Morgan Stanley boosted their target price on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Wells Fargo & Company cut their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Royal Bank of Canada dropped their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. UBS Group boosted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Gordon Haskett dropped their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and a consensus target price of $253.48.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.