Deltec Asset Management LLC Reduces Position in Lowe’s Companies, Inc. (LOW)

Deltec Asset Management LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 74.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,783 shares of the home improvement retailer’s stock after selling 87,414 shares during the period. Deltec Asset Management LLC’s holdings in Lowe’s Companies were worth $2,381,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbour Capital Advisors LLC acquired a new position in Lowe’s Companies in the 1st quarter valued at $103,000. Atlantic Trust LLC acquired a new position in Lowe’s Companies in the 2nd quarter valued at $105,000. State of Alaska Department of Revenue raised its holdings in Lowe’s Companies by 8.3% in the 2nd quarter. State of Alaska Department of Revenue now owns 1,440 shares of the home improvement retailer’s stock valued at $111,000 after acquiring an additional 110 shares in the last quarter. Balentine LLC acquired a new position in Lowe’s Companies in the 1st quarter valued at $120,000. Finally, Proficio Capital Partners LLC raised its holdings in Lowe’s Companies by 140.4% in the 1st quarter. Proficio Capital Partners LLC now owns 1,589 shares of the home improvement retailer’s stock valued at $127,000 after acquiring an additional 928 shares in the last quarter. 73.40% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently issued reports on the company. Guggenheim assumed coverage on Lowe’s Companies in a research note on Tuesday. They issued a “buy” rating and a $95.00 price target on the stock. Jefferies Group reiterated a “hold” rating and issued a $75.00 price target on shares of Lowe’s Companies in a research note on Thursday, September 28th. Piper Jaffray Companies reiterated a “hold” rating and issued a $80.00 price target on shares of Lowe’s Companies in a research note on Friday, September 29th. Gordon Haskett assumed coverage on Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price target on the stock. Finally, Zacks Investment Research upgraded Lowe’s Companies from a “sell” rating to a “hold” rating in a research note on Thursday, September 21st. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and seventeen have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $87.66.

In other Lowe’s Companies news, SVP Matthew V. Hollifield sold 7,853 shares of Lowe’s Companies stock in a transaction dated Friday, September 22nd. The stock was sold at an average price of $78.30, for a total transaction of $614,889.90. Following the transaction, the senior vice president now directly owns 30,750 shares of the company’s stock, valued at approximately $2,407,725. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Paul D. Ramsay sold 2,098 shares of Lowe’s Companies stock in a transaction dated Tuesday, September 19th. The stock was sold at an average price of $78.02, for a total value of $163,685.96. Following the transaction, the insider now directly owns 8,400 shares in the company, valued at $655,368. The disclosure for this sale can be found here. Insiders have sold a total of 13,303 shares of company stock worth $1,047,406 in the last 90 days. 0.11% of the stock is currently owned by corporate insiders.

Shares of Lowe’s Companies, Inc. (NYSE LOW) traded down $0.55 during mid-day trading on Wednesday, reaching $84.99. The company had a trading volume of 7,125,600 shares, compared to its average volume of 5,985,499. The company has a market cap of $70,977.72, a price-to-earnings ratio of 18.97, a P/E/G ratio of 1.29 and a beta of 1.15. Lowe’s Companies, Inc. has a twelve month low of $70.49 and a twelve month high of $88.55. The company has a debt-to-equity ratio of 2.71, a current ratio of 1.02 and a quick ratio of 0.12.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, November 21st. The home improvement retailer reported $1.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.03. The business had revenue of $16.77 billion for the quarter, compared to analyst estimates of $16.59 billion. Lowe’s Companies had a return on equity of 66.27% and a net margin of 5.16%. Lowe’s Companies’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.88 EPS. sell-side analysts anticipate that Lowe’s Companies, Inc. will post 4.51 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be given a dividend of $0.41 per share. The ex-dividend date of this dividend is Tuesday, January 23rd. This represents a $1.64 dividend on an annualized basis and a yield of 1.93%. Lowe’s Companies’s dividend payout ratio is currently 39.33%.

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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.

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

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