Applied Finance Capital Management LLC Has $17.75 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Applied Finance Capital Management LLC lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 88,759 shares of the home improvement retailer’s stock after selling 3,965 shares during the quarter. Lowe’s Companies makes up approximately 2.2% of Applied Finance Capital Management LLC’s investment portfolio, making the stock its 13th largest holding. Applied Finance Capital Management LLC’s holdings in Lowe’s Companies were worth $17,749,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LOW. Gabelli Funds LLC boosted its holdings in shares of Lowe’s Companies by 0.6% during the 1st quarter. Gabelli Funds LLC now owns 56,825 shares of the home improvement retailer’s stock worth $11,363,000 after buying an additional 325 shares in the last quarter. Stifel Financial Corp boosted its stake in Lowe’s Companies by 0.7% during the first quarter. Stifel Financial Corp now owns 683,865 shares of the home improvement retailer’s stock worth $136,762,000 after acquiring an additional 4,489 shares in the last quarter. GeoWealth Management LLC bought a new position in Lowe’s Companies during the first quarter worth $84,000. Geller Advisors LLC bought a new stake in Lowe’s Companies in the first quarter valued at $298,000. Finally, GM Advisory Group Inc. raised its holdings in shares of Lowe’s Companies by 46.0% during the first quarter. GM Advisory Group Inc. now owns 1,746 shares of the home improvement retailer’s stock valued at $349,000 after purchasing an additional 550 shares during the period. Institutional investors own 71.88% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LOW. Wells Fargo & Company boosted their target price on Lowe’s Companies from $245.00 to $250.00 and gave the company an “overweight” rating in a research report on Wednesday, August 23rd. Bank of America boosted their price objective on Lowe’s Companies from $278.00 to $289.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. Argus upped their target price on Lowe’s Companies from $250.00 to $260.00 in a research report on Wednesday, July 12th. Barclays reduced their price target on shares of Lowe’s Companies from $215.00 to $212.00 in a research report on Wednesday, May 24th. Finally, The Goldman Sachs Group lowered their price objective on shares of Lowe’s Companies from $260.00 to $252.00 and set a “buy” rating on the stock in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $237.66.

Insider Activity

In related news, EVP Janice Dupre sold 5,380 shares of the stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $231.28, for a total value of $1,244,286.40. Following the sale, the executive vice president now owns 24,216 shares in the company, valued at $5,600,676.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $222.53, for a total value of $1,001,385.00. Following the transaction, the executive vice president now owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.28, for a total value of $1,244,286.40. Following the sale, the executive vice president now directly owns 24,216 shares of the company’s stock, valued at approximately $5,600,676.48. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Down 0.8 %

Shares of NYSE LOW traded down $1.93 during mid-day trading on Friday, hitting $231.68. The company had a trading volume of 209,875 shares, compared to its average volume of 2,793,744. The stock’s 50-day moving average price is $227.34 and its 200-day moving average price is $212.47. The company has a market capitalization of $133.70 billion, a price-to-earnings ratio of 22.84, a P/E/G ratio of 1.49 and a beta of 1.09. Lowe’s Companies, Inc. has a 1 year low of $176.50 and a 1 year high of $237.21.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.07. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The firm had revenue of $24.96 billion for the quarter, compared to analysts’ expectations of $24.97 billion. During the same period in the prior year, the business posted $4.67 earnings per share. The company’s revenue was down 9.2% on a year-over-year basis. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 13.45 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.90%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s payout ratio is 43.31%.

Lowe’s Companies Profile

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.