Delta Asset Management LLC TN Purchases 3,288 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Delta Asset Management LLC TN raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 260,113 shares of the home improvement retailer’s stock after acquiring an additional 3,288 shares during the quarter. Lowe’s Companies makes up about 5.8% of Delta Asset Management LLC TN’s holdings, making the stock its 2nd biggest holding. Delta Asset Management LLC TN’s holdings in Lowe’s Companies were worth $58,707,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of LOW. Norges Bank acquired a new position in Lowe’s Companies in the fourth quarter valued at $1,461,267,000. Moneta Group Investment Advisors LLC lifted its stake in Lowe’s Companies by 107,710.7% in the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after buying an additional 5,075,327 shares during the last quarter. Providence Capital Advisors LLC boosted its holdings in shares of Lowe’s Companies by 19,964.5% in the first quarter. Providence Capital Advisors LLC now owns 4,520,122 shares of the home improvement retailer’s stock valued at $22,604,000 after acquiring an additional 4,497,594 shares during the period. Macquarie Group Ltd. grew its position in shares of Lowe’s Companies by 450.8% during the first quarter. Macquarie Group Ltd. now owns 2,556,364 shares of the home improvement retailer’s stock worth $511,196,000 after acquiring an additional 2,092,245 shares during the last quarter. Finally, Morgan Stanley increased its holdings in shares of Lowe’s Companies by 21.3% in the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after acquiring an additional 2,050,089 shares during the period. 71.88% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

LOW has been the topic of a number of recent research reports. Telsey Advisory Group restated a “market perform” rating and issued a $225.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, November 15th. Stifel Nicolaus dropped their price target on Lowe’s Companies from $270.00 to $240.00 and set a “buy” rating on the stock in a research report on Monday, November 13th. Oppenheimer reaffirmed an “outperform” rating and set a $275.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 9th. Evercore ISI cut their price target on Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating for the company in a research note on Friday, September 8th. Finally, Sanford C. Bernstein upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $252.00 to $282.00 in a research report on Tuesday, September 5th. Twelve research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $242.32.

Lowe’s Companies Price Performance

LOW stock traded up $0.80 during midday trading on Monday, reaching $204.50. 706,906 shares of the company’s stock traded hands, compared to its average volume of 2,784,481. The company has a market capitalization of $118.02 billion, a P/E ratio of 20.05, a PEG ratio of 1.36 and a beta of 1.07. The business has a 50-day moving average price of $201.92 and a two-hundred day moving average price of $213.29. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $237.21.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $24.96 billion for the quarter, compared to analysts’ expectations of $24.97 billion. During the same quarter in the previous year, the firm posted $4.67 earnings per share. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 13.31 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be given a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.15%. The ex-dividend date is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 43.31%.

Insider Activity

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

About Lowe’s Companies

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.