Bahl & Gaynor Inc. Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Bahl & Gaynor Inc. lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 43.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 84,037 shares of the home improvement retailer’s stock after selling 65,818 shares during the period. Bahl & Gaynor Inc.’s holdings in Lowe’s Companies were worth $5,977,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. boosted its stake 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 worth $5,045,875,000 after purchasing an additional 58,073,138 shares during the last quarter. OppenheimerFunds Inc. boosted its position in shares of Lowe’s Companies by 204.0% in the first quarter. OppenheimerFunds Inc. now owns 8,018,171 shares of the home improvement retailer’s stock worth $659,174,000 after acquiring an additional 5,380,759 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of Lowe’s Companies by 4.3% in the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock worth $5,250,843,000 after acquiring an additional 2,650,045 shares during the last quarter. Glenview Capital Management LLC boosted its position in shares of Lowe’s Companies by 33.8% in the first quarter. Glenview Capital Management LLC now owns 5,452,659 shares of the home improvement retailer’s stock worth $448,263,000 after acquiring an additional 1,376,540 shares during the last quarter. Finally, Scopus Asset Management L.P. raised its holdings in Lowe’s Companies by 866.7% in the first quarter. Scopus Asset Management L.P. now owns 1,450,000 shares of the home improvement retailer’s stock valued at $119,205,000 after buying an additional 1,300,000 shares during the period. Institutional investors own 74.38% of the company’s stock.

In related news, SVP Matthew V. Hollifield sold 7,853 shares of Lowe’s Companies 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 owns 30,750 shares of the company’s stock, valued at approximately $2,407,725. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Paul D. Ramsay sold 2,098 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, September 19th. The shares were 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 directly owns 8,400 shares in the company, valued at approximately $655,368. The disclosure for this sale can be found here. Corporate insiders own 0.11% of the company’s stock.

A number of research firms have recently issued reports on LOW. Deutsche Bank AG reiterated a “buy” rating and set a $90.00 price objective (up previously from $85.00) on shares of Lowe’s Companies in a research note on Friday, October 6th. Gordon Haskett assumed coverage on shares of Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price target for the company. Zacks Investment Research raised shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a report on Tuesday, October 24th. Robert W. Baird set a $87.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Tuesday, October 31st. Finally, BMO Capital Markets reissued a “hold” rating and set a $82.00 price target on shares of Lowe’s Companies in a report on Thursday, November 2nd. Three investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $85.62.

Lowe’s Companies, Inc. (NYSE LOW) opened at $77.63 on Tuesday. The stock has a market capitalization of $64,280.00, a PE ratio of 17.85, a P/E/G ratio of 1.26 and a beta of 1.13. Lowe’s Companies, Inc. has a 1-year low of $65.12 and a 1-year high of $86.25. The company has a quick ratio of 0.19, a current ratio of 1.03 and a debt-to-equity ratio of 2.85.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.62 by ($0.05). Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.58 billion. During the same quarter in the prior year, the business earned $1.37 EPS. Lowe’s Companies’s revenue was up 6.8% on a year-over-year basis. equities analysts forecast that Lowe’s Companies, Inc. will post 4.5 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be paid a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.11%. The ex-dividend date is Tuesday, January 23rd. Lowe’s Companies’s payout ratio is 46.20%.

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About Lowe’s Companies

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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