6 Meridian Has $7.38 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

6 Meridian raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 67,099 shares of the home improvement retailer’s stock after buying an additional 2,065 shares during the period. 6 Meridian’s holdings in Lowe’s Companies were worth $7,378,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. CWM LLC boosted its position in Lowe’s Companies by 8.3% in the third quarter. CWM LLC now owns 5,422 shares of the home improvement retailer’s stock valued at $596,000 after buying an additional 414 shares in the last quarter. Bigelow Investment Advisors LLC boosted its position in Lowe’s Companies by 12.0% in the third quarter. Bigelow Investment Advisors LLC now owns 3,035 shares of the home improvement retailer’s stock valued at $334,000 after buying an additional 325 shares in the last quarter. Nicolet Bankshares Inc. boosted its position in Lowe’s Companies by 1.2% in the third quarter. Nicolet Bankshares Inc. now owns 9,384 shares of the home improvement retailer’s stock valued at $1,032,000 after buying an additional 115 shares in the last quarter. Horan Capital Advisors LLC. acquired a new position in shares of Lowe’s Companies during the third quarter worth approximately $181,000. Finally, Woodard & Co. Asset Management Group Inc. ADV acquired a new position in shares of Lowe’s Companies during the third quarter worth approximately $288,000. Hedge funds and other institutional investors own 76.32% of the company’s stock.

In other Lowe’s Companies news, EVP Jennifer L. Weber sold 12,589 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $112.62, for a total value of $1,417,773.18. Following the completion of the sale, the executive vice president now owns 17,440 shares of the company’s stock, valued at $1,964,092.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Matthew V. Hollifield sold 12,136 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $112.34, for a total transaction of $1,363,358.24. Following the completion of 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. 0.07% of the stock is currently owned by corporate insiders.

Shares of NYSE LOW opened at $112.47 on Wednesday. The company’s 50 day simple moving average is $111.24 and its 200 day simple moving average is $105.98. Lowe’s Companies, Inc. has a fifty-two week low of $84.75 and a fifty-two week high of $118.23. The firm has a market capitalization of $86.40 billion, a P/E ratio of 21.49, a P/E/G ratio of 1.42 and a beta of 1.30. The company has a debt-to-equity ratio of 7.80, a current ratio of 1.06 and a quick ratio of 0.19.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share for the quarter, beating the Thomson Reuters’ 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 business had revenue of $20.99 billion for the quarter, compared to analyst estimates of $20.96 billion. During the same period in the prior year, the business posted $2.07 earnings per share. Lowe’s Companies’s revenue was up .5% compared to the same quarter last year. Sell-side analysts expect that Lowe’s Companies, Inc. will post 5.67 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.96%. The ex-dividend date is Tuesday, October 22nd. Lowe’s Companies’s payout ratio is presently 42.80%.

A number of brokerages have recently issued reports on LOW. Raymond James lowered shares of Lowe’s Companies from an “outperform” rating to a “market perform” rating in a research report on Tuesday, October 8th. Morgan Stanley upped their target price on shares of Lowe’s Companies from $123.00 to $130.00 and gave the stock an “overweight” rating in a research report on Thursday, August 22nd. Robert W. Baird set a $127.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Wedbush upgraded shares of Lowe’s Companies from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $115.00 to $135.00 in a research report on Monday, September 16th. Finally, Citigroup upped their target price on shares of Lowe’s Companies from $122.00 to $137.00 and gave the stock a “buy” rating in a research report on Friday, September 13th. Nine investment analysts have rated the stock with a hold rating and nineteen have given a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average target price of $120.96.

About Lowe’s Companies

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.

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

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