Lincoln Capital Corp Sells 757 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Lincoln Capital Corp lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 28,167 shares of the home improvement retailer’s stock after selling 757 shares during the quarter. Lowe’s Companies makes up 2.6% of Lincoln Capital Corp’s investment portfolio, making the stock its 14th largest position. Lincoln Capital Corp’s holdings in Lowe’s Companies were worth $3,097,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of Lowe’s Companies by 0.4% in the 2nd quarter. Vanguard Group Inc. now owns 66,234,867 shares of the home improvement retailer’s stock valued at $6,683,762,000 after acquiring an additional 240,910 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Lowe’s Companies by 6,680.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock valued at $636,989,000 after acquiring an additional 6,219,346 shares in the last quarter. Morgan Stanley raised its holdings in shares of Lowe’s Companies by 1.0% in the 2nd quarter. Morgan Stanley now owns 4,970,572 shares of the home improvement retailer’s stock valued at $501,580,000 after acquiring an additional 50,649 shares in the last quarter. Charles Schwab Investment Advisory Inc. raised its holdings in shares of Lowe’s Companies by 0.9% in the 2nd quarter. Charles Schwab Investment Advisory Inc. now owns 2,774,755 shares of the home improvement retailer’s stock valued at $280,001,000 after acquiring an additional 24,952 shares in the last quarter. Finally, Eaton Vance Management raised its holdings in shares of Lowe’s Companies by 49.9% in the 2nd quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock valued at $238,844,000 after acquiring an additional 788,392 shares in the last quarter. Institutional investors and hedge funds own 76.35% of the company’s stock.

Several analysts have weighed in on LOW shares. Barclays raised Lowe’s Companies from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $105.00 to $125.00 in a report on Thursday, October 31st. Loop Capital raised their price objective on Lowe’s Companies to $105.00 and gave the company a “hold” rating in a report on Thursday, August 22nd. Oppenheimer raised their price objective on Lowe’s Companies from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a report on Monday, September 30th. Finally, Royal Bank of Canada raised their price objective on Lowe’s Companies from $123.00 to $129.00 and gave the company an “outperform” rating in a report on Monday, September 16th. Six investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $123.20.

In other Lowe’s Companies news, CAO Matthew V. Hollifield sold 12,136 shares of Lowe’s Companies stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $112.34, for a total transaction of $1,363,358.24. Following the completion of the transaction, the chief accounting officer now owns 28,017 shares in the company, valued at $3,147,429.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Jennifer L. Weber sold 12,589 shares of Lowe’s Companies stock in a transaction on Monday, September 16th. The shares were sold at an average price of $112.62, for a total value of $1,417,773.18. Following the transaction, the executive vice president now owns 17,440 shares of the company’s stock, valued at approximately $1,964,092.80. The disclosure for this sale can be found here. 0.07% of the stock is currently owned by insiders.

Shares of NYSE LOW traded up $1.40 during mid-day trading on Friday, hitting $114.00. 2,748,129 shares of the stock traded hands, compared to its average volume of 4,548,905. The company has a debt-to-equity ratio of 7.80, a quick ratio of 0.19 and a current ratio of 1.06. Lowe’s Companies, Inc. has a 52 week low of $84.75 and a 52 week high of $118.23. The company has a market cap of $86.60 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.47 and a beta of 1.29. The stock has a fifty day moving average price of $110.71 and a 200-day moving average price of $105.70.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.00 by $0.15. The company had revenue of $20.99 billion for the quarter, compared to analyst estimates of $20.96 billion. Lowe’s Companies had a return on equity of 111.09% and a net margin of 3.52%. The firm’s revenue was up .5% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 earnings per share. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 5.67 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 1.93%. Lowe’s Companies’s payout ratio is 42.80%.

Lowe’s Companies Company Profile

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

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

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