Gamco Investors INC. ET AL Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

Gamco Investors INC. ET AL cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,582 shares of the home improvement retailer’s stock after selling 1,590 shares during the period. Gamco Investors INC. ET AL’s holdings in Lowe’s Companies were worth $2,043,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the stock. Atwater Malick LLC bought a new position in Lowe’s Companies in the third quarter valued at about $26,000. Next Capital Management LLC bought a new position in Lowe’s Companies in the second quarter valued at about $27,000. Knuff & Co LLC bought a new position in Lowe’s Companies in the second quarter valued at about $29,000. Pearl River Capital LLC bought a new position in Lowe’s Companies in the second quarter valued at about $29,000. Finally, Ossiam bought a new position in Lowe’s Companies in the second quarter valued at about $31,000. 76.35% of the stock is currently owned by institutional investors.

A number of research analysts have weighed in on LOW shares. Telsey Advisory Group increased their target price on Lowe’s Companies from $116.00 to $120.00 and gave the company an “outperform” rating in a report on Thursday, August 22nd. Zacks Investment Research raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $116.00 price objective on the stock in a research note on Monday, September 30th. Wells Fargo & Co raised their price objective on Lowe’s Companies from $125.00 to $130.00 and gave the stock an “outperform” rating in a research note on Tuesday, November 5th. Jefferies Financial Group set a $125.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research note on Monday, August 26th. Finally, Barclays raised Lowe’s Companies from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $105.00 to $125.00 in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $123.20.

Shares of NYSE:LOW traded up $1.40 during trading on Friday, hitting $114.00. 2,748,129 shares of the company’s stock were exchanged, compared to its average volume of 4,548,905. 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, Inc. has a 52-week low of $84.75 and a 52-week high of $118.23. The business’s 50-day simple moving average is $110.71 and its 200 day simple moving average is $105.70. The company has a market cap of $86.60 billion, a price-to-earnings ratio of 22.18, a PEG ratio of 1.47 and a beta of 1.29.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.00 by $0.15. Lowe’s Companies had a return on equity of 111.09% and a net margin of 3.52%. The firm had revenue of $20.99 billion during the quarter, compared to analysts’ expectations of $20.96 billion. During the same quarter last year, the business posted $2.07 earnings per share. The firm’s revenue was up .5% on a year-over-year basis. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 5.67 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.93%. Lowe’s Companies’s dividend payout ratio is currently 42.80%.

In related news, CAO Matthew V. Hollifield sold 12,136 shares of the stock in a transaction dated 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 completion of the sale, the chief accounting officer now owns 28,017 shares in the company, valued at $3,147,429.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jennifer L. Weber sold 12,589 shares of the firm’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 transaction, the executive vice president now owns 17,440 shares of the company’s stock, valued at approximately $1,964,092.80. The disclosure for this sale can be found here. Company insiders own 0.07% 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, 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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