Picton Mahoney Asset Management Purchases New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Picton Mahoney Asset Management purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 1,700 shares of the home improvement retailer’s stock, valued at approximately $330,000.

A number of other large investors have also bought and sold shares of LOW. Camden National Bank raised its position in Lowe’s Companies by 17.1% during the fourth quarter. Camden National Bank now owns 2,291 shares of the home improvement retailer’s stock valued at $368,000 after buying an additional 335 shares during the period. Ironwood Wealth Management LLC. raised its position in Lowe’s Companies by 20.7% during the first quarter. Ironwood Wealth Management LLC. now owns 8,126 shares of the home improvement retailer’s stock valued at $1,545,000 after buying an additional 1,395 shares during the period. Atlas Capital Advisors LLC raised its position in Lowe’s Companies by 7.7% during the first quarter. Atlas Capital Advisors LLC now owns 783 shares of the home improvement retailer’s stock valued at $149,000 after buying an additional 56 shares during the period. Banco Santander S.A. acquired a new position in Lowe’s Companies during the first quarter valued at $270,000. Finally, Naples Global Advisors LLC raised its position in Lowe’s Companies by 2.8% during the first quarter. Naples Global Advisors LLC now owns 4,109 shares of the home improvement retailer’s stock valued at $781,000 after buying an additional 113 shares during the period. 72.80% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:LOW opened at $207.87 on Friday. The business has a 50 day moving average price of $199.80 and a 200 day moving average price of $195.07. Lowe’s Companies, Inc. has a twelve month low of $146.72 and a twelve month high of $215.22. The company has a market cap of $143.94 billion, a price-to-earnings ratio of 21.45, a PEG ratio of 1.26 and a beta of 1.34. The company has a quick ratio of 0.36, a current ratio of 1.16 and a debt-to-equity ratio of 49.23.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 17th. The home improvement retailer reported $4.25 earnings per share for the quarter, beating the consensus estimate of $4.01 by $0.24. Lowe’s Companies had a return on equity of 541.39% and a net margin of 7.41%. The firm had revenue of $27.57 billion during the quarter, compared to the consensus estimate of $26.76 billion. During the same quarter in the prior year, the company earned $3.75 EPS. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. Analysts anticipate that Lowe’s Companies, Inc. will post 11.26 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 3rd. Investors of record on Wednesday, October 20th will be paid a dividend of $0.80 per share. The ex-dividend date of this dividend is Tuesday, October 19th. This represents a $3.20 annualized dividend and a yield of 1.54%. Lowe’s Companies’s payout ratio is 36.12%.

Several research analysts have weighed in on LOW shares. Wedbush lowered Lowe’s Companies from an “outperform” rating to a “neutral” rating and dropped their target price for the stock from $225.00 to $210.00 in a research report on Monday, July 26th. TheStreet lowered Lowe’s Companies from a “b” rating to a “c+” rating in a research report on Wednesday, August 18th. DA Davidson reaffirmed a “buy” rating on shares of Lowe’s Companies in a research report on Thursday, August 19th. OTR Global lowered Lowe’s Companies to a “positive” rating in a research report on Tuesday, August 10th. Finally, Zacks Investment Research lowered Lowe’s Companies from a “hold” rating to a “sell” rating and set a $205.00 target price on the stock. in a research report on Wednesday, July 28th. One research analyst has rated the stock with a sell rating, five have given a hold rating and twenty have assigned a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Buy” and a consensus price target of $216.26.

Lowe’s Companies Company Profile

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

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

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