Highstreet Asset Management Inc. Acquires Shares of 2,860 Lowe’s Companies, Inc. (LOW)

Highstreet Asset Management Inc. acquired a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,860 shares of the home improvement retailer’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in shares of Lowe’s Companies by 4.3% during the 1st quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock valued at $5,250,843,000 after buying an additional 2,650,045 shares in the last quarter. BlackRock Inc. raised its holdings in shares of Lowe’s Companies by 1,757.3% during the 1st quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock valued at $5,045,875,000 after buying an additional 58,073,138 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Lowe’s Companies by 8.2% during the 1st quarter. Geode Capital Management LLC now owns 8,848,938 shares of the home improvement retailer’s stock valued at $726,481,000 after buying an additional 671,581 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Lowe’s Companies by 11.5% during the 1st quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,249,599 shares of the home improvement retailer’s stock valued at $678,200,000 after buying an additional 852,426 shares in the last quarter. Finally, OppenheimerFunds Inc. raised its holdings in shares of Lowe’s Companies by 204.0% during the 1st quarter. OppenheimerFunds Inc. now owns 8,018,171 shares of the home improvement retailer’s stock valued at $659,174,000 after buying an additional 5,380,759 shares in the last quarter. 74.22% of the stock is currently owned by institutional investors.

In other news, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction that occurred on Friday, September 22nd. The stock was sold at an average price of $78.30, for a total value of $614,889.90. Following the sale, the senior vice president now directly owns 30,750 shares in the company, valued at $2,407,725. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Paul D. Ramsay sold 2,098 shares of the 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 completion of the sale, the insider now owns 8,400 shares in the company, valued at $655,368. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

Lowe’s Companies, Inc. (LOW) opened at 81.86 on Monday. Lowe’s Companies, Inc. has a 1-year low of $64.87 and a 1-year high of $86.25. The stock’s 50 day moving average price is $77.32 and its 200 day moving average price is $79.43. The stock has a market capitalization of $68.17 billion, a PE ratio of 23.24 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the consensus estimate 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 business had revenue of $19.50 billion during the quarter, compared to analysts’ expectations of $19.58 billion. During the same quarter in the previous year, the company posted $1.37 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. On average, equities research analysts predict that Lowe’s Companies, Inc. will post $4.50 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be issued a $0.41 dividend. The ex-dividend date is Tuesday, October 24th. This represents a $1.64 annualized dividend and a dividend yield of 2.00%. Lowe’s Companies’s payout ratio is 46.20%.

A number of brokerages recently weighed in on LOW. Deutsche Bank AG reissued a “buy” rating and set a $90.00 price objective (up from $85.00) on shares of Lowe’s Companies in a report on Friday. Gordon Haskett began coverage on Lowe’s Companies in a report on Tuesday, October 3rd. They set an “accumulate” rating and a $88.00 price objective on the stock. Piper Jaffray Companies reissued a “hold” rating and set a $80.00 price objective on shares of Lowe’s Companies in a report on Friday, September 29th. Jefferies Group LLC reissued a “hold” rating and set a $75.00 price objective on shares of Lowe’s Companies in a report on Thursday, September 28th. Finally, Royal Bank Of Canada reissued a “buy” rating and set a $81.00 price objective on shares of Lowe’s Companies in a report on Monday, September 25th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $85.32.

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Lowe’s Companies Profile

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.

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

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