Voleon Capital Management LP Decreases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Voleon Capital Management LP cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 19.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 161,000 shares of the home improvement retailer’s stock after selling 39,000 shares during the period. Voleon Capital Management LP’s holdings in Lowe’s Companies were worth $16,247,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in LOW. Nuveen Asset Management LLC boosted its position in shares of Lowe’s Companies by 6,680.1% in the 2nd quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock worth $636,989,000 after buying an additional 6,219,346 shares in the last quarter. Viking Global Investors LP purchased a new stake in shares of Lowe’s Companies in the 2nd quarter worth about $139,358,000. Nordea Investment Management AB boosted its position in shares of Lowe’s Companies by 395.6% in the 1st quarter. Nordea Investment Management AB now owns 821,674 shares of the home improvement retailer’s stock worth $89,950,000 after buying an additional 655,882 shares in the last quarter. Nomura Holdings Inc. boosted its position in shares of Lowe’s Companies by 3,951.6% in the 2nd quarter. Nomura Holdings Inc. now owns 658,582 shares of the home improvement retailer’s stock worth $67,380,000 after buying an additional 642,327 shares in the last quarter. Finally, Artisan Partners Limited Partnership boosted its position in shares of Lowe’s Companies by 14.9% in the 1st quarter. Artisan Partners Limited Partnership now owns 3,735,627 shares of the home improvement retailer’s stock worth $408,939,000 after buying an additional 483,822 shares in the last quarter. Institutional investors and hedge funds own 76.23% of the company’s stock.

Several equities research analysts recently commented on the stock. Royal Bank of Canada boosted their price objective on shares of Lowe’s Companies from $123.00 to $129.00 and gave the stock an “outperform” rating in a research report on Monday, September 16th. Telsey Advisory Group boosted their price objective on shares of Lowe’s Companies from $116.00 to $120.00 and gave the stock an “outperform” rating in a research report on Thursday, August 22nd. Jefferies Financial Group set a $125.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Monday, August 26th. Barclays upped their target price on shares of Lowe’s Companies from $95.00 to $105.00 and gave the company an “equal weight” rating in a report on Monday, June 24th. Finally, Robert W. Baird set a $127.00 target price on shares of Lowe’s Companies and gave the company a “buy” rating in a report on Wednesday, August 21st. Eight equities research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. Lowe’s Companies has a consensus rating of “Buy” and an average price target of $118.00.



In other news, EVP Jennifer L. Weber sold 12,589 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $112.62, for a total transaction of $1,417,773.18. Following the completion of the transaction, the executive vice president now owns 17,440 shares of the company’s stock, valued at approximately $1,964,092.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Matthew V. Hollifield sold 12,136 shares of the stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $112.34, for a total transaction of $1,363,358.24. Following the sale, the chief accounting officer now directly owns 28,017 shares of the company’s stock, valued at approximately $3,147,429.78. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

NYSE:LOW traded down $0.42 on Tuesday, reaching $110.02. The stock had a trading volume of 3,797,987 shares, compared to its average volume of 3,713,012. Lowe’s Companies, Inc. has a 12-month low of $84.75 and a 12-month high of $118.23. The firm’s fifty day moving average is $106.46 and its two-hundred day moving average is $105.15. The company has a debt-to-equity ratio of 7.80, a current ratio of 1.06 and a quick ratio of 0.19. The company has a market cap of $85.64 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.46 and a beta of 1.30.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 EPS for the quarter, beating the Zacks’ consensus estimate of $2.00 by $0.15. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The company had revenue of $20.99 billion during the quarter, compared to the consensus estimate of $20.96 billion. During the same quarter in the prior year, the company posted $2.07 EPS. The company’s quarterly revenue was up .5% compared to the same quarter last year. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 5.66 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a dividend yield of 2.00%. The ex-dividend date of this dividend is Tuesday, October 22nd. Lowe’s Companies’s dividend payout ratio is currently 42.80%.

Lowe’s Companies Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

Read More: Systematic Risk

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

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