Lowe’s Companies, Inc. (LOW) Shares Sold by Formidable Asset Management LLC

Formidable Asset Management LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 18.3% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,933 shares of the home improvement retailer’s stock after selling 1,328 shares during the quarter. Formidable Asset Management LLC’s holdings in Lowe’s Companies were worth $460,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Amalgamated Bank lifted its holdings in Lowe’s Companies by 50.2% in the 2nd quarter. Amalgamated Bank now owns 101,250 shares of the home improvement retailer’s stock valued at $7,850,000 after acquiring an additional 33,836 shares during the last quarter. Edmond DE Rothschild Holding S.A. lifted its holdings in Lowe’s Companies by 10.0% in the 2nd quarter. Edmond DE Rothschild Holding S.A. now owns 7,666 shares of the home improvement retailer’s stock valued at $594,000 after acquiring an additional 700 shares during the last quarter. Richard C. Young & CO. LTD. lifted its holdings in Lowe’s Companies by 77.4% in the 2nd quarter. Richard C. Young & CO. LTD. now owns 84,611 shares of the home improvement retailer’s stock valued at $6,560,000 after acquiring an additional 36,923 shares during the last quarter. Courier Capital LLC lifted its holdings in Lowe’s Companies by 0.7% in the 2nd quarter. Courier Capital LLC now owns 35,448 shares of the home improvement retailer’s stock valued at $2,748,000 after acquiring an additional 240 shares during the last quarter. Finally, TCI Wealth Advisors Inc. lifted its holdings in Lowe’s Companies by 3.2% in the 2nd quarter. TCI Wealth Advisors Inc. now owns 4,468 shares of the home improvement retailer’s stock valued at $346,000 after acquiring an additional 137 shares during the last quarter. 74.35% of the stock is owned by institutional investors.

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In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of the company’s stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the completion of the sale, the senior vice president now owns 30,750 shares of the company’s stock, valued at $2,407,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of the company’s stock in a transaction that occurred on Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the sale, the insider now directly owns 8,400 shares of the company’s stock, valued at approximately $655,368. The disclosure for this sale can be found here. 0.11% of the stock is owned by corporate insiders.

Lowe’s Companies, Inc. (NYSE:LOW) opened at $77.92 on Monday. Lowe’s Companies, Inc. has a twelve month low of $64.87 and a twelve month high of $86.25. The company has a market capitalization of $65,219.04, a P/E ratio of 17.95, a P/E/G ratio of 1.27 and a beta of 1.13. The company has a quick ratio of 0.19, a current ratio of 1.03 and a debt-to-equity ratio of 2.85.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 EPS for the quarter, missing analysts’ consensus estimates of $1.62 by ($0.05). Lowe’s Companies had a return on equity of 62.02% and a net margin of 4.51%. The firm had revenue of $19.50 billion during the quarter, compared to analyst estimates of $19.58 billion. During the same quarter in the prior year, the company posted $1.37 EPS. The company’s quarterly revenue was up 6.8% on a year-over-year basis. analysts expect that Lowe’s Companies, Inc. will post 4.51 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.64 dividend on an annualized basis and a yield of 2.10%. Lowe’s Companies’s payout ratio is currently 46.20%.

A number of brokerages have weighed in on LOW. BMO Capital Markets reissued a “hold” rating and issued a $82.00 price target on shares of Lowe’s Companies in a report on Thursday. Zacks Investment Research raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $90.00 price objective for the company in a research note on Wednesday, November 1st. Robert W. Baird set a $87.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Tuesday, October 31st. Royal Bank Of Canada set a $81.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Monday, October 30th. Finally, Deutsche Bank AG reaffirmed a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Lowe’s Companies in a research note on Friday, October 6th. Three investment analysts have rated the stock with a sell rating, nine have given a hold rating and fourteen have given a buy rating to the stock. Lowe’s Companies presently has a consensus rating of “Hold” and a consensus target price of $85.21.

About Lowe’s Companies

Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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