Lowe’s Companies, Inc. (LOW) Stake Lowered by Dumont & Blake Investment Advisors LLC

Lowe’s Companies, Inc. (LOW) Stake Lowered by Dumont & Blake Investment Advisors LLC

Dumont & Blake Investment Advisors LLC decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 7.2% during the third quarter, Holdings Channel reports. The institutional investor owned 46,116 shares of the home improvement retailer’s stock after selling 3,556 shares during the period. Lowe’s Companies accounts for 1.6% of Dumont & Blake Investment Advisors LLC’s holdings, making the stock its 8th largest position. Dumont & Blake Investment Advisors LLC’s holdings in Lowe’s Companies were worth $3,330,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in the company. Bank of Montreal Can boosted its stake in Lowe’s Companies by 7.7% in the third quarter. Bank of Montreal Can now owns 3,868,563 shares of the home improvement retailer’s stock valued at $279,350,000 after buying an additional 275,743 shares in the last quarter. BlackRock Inc. boosted its stake in Lowe’s Companies by 9.8% in the second quarter. BlackRock Inc. now owns 2,857,228 shares of the home improvement retailer’s stock valued at $226,205,000 after buying an additional 254,254 shares in the last quarter. APG Asset Management N.V. boosted its stake in Lowe’s Companies by 7.6% in the third quarter. APG Asset Management N.V. now owns 2,376,350 shares of the home improvement retailer’s stock valued at $171,596,000 after buying an additional 168,100 shares in the last quarter. Alliancebernstein L.P. boosted its stake in Lowe’s Companies by 30.8% in the second quarter. Alliancebernstein L.P. now owns 2,214,424 shares of the home improvement retailer’s stock valued at $175,316,000 after buying an additional 521,030 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in Lowe’s Companies by 29.4% in the second quarter. Bessemer Group Inc. now owns 2,017,180 shares of the home improvement retailer’s stock valued at $159,700,000 after buying an additional 458,472 shares in the last quarter. Hedge funds and other institutional investors own 75.09% of the company’s stock.

Lowe’s Companies, Inc. (NYSE:LOW) opened at 73.25 on Friday. The company has a market capitalization of $63.72 billion, a price-to-earnings ratio of 26.89 and a beta of 1.28. The stock has a 50 day moving average price of $72.49 and a 200 day moving average price of $73.71. Lowe’s Companies, Inc. has a 52-week low of $62.62 and a 52-week high of $83.65.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, November 16th. The home improvement retailer reported $0.88 earnings per share for the quarter, missing the consensus estimate of $0.96 by $0.08. The business earned $15.70 billion during the quarter, compared to analysts’ expectations of $15.86 billion. Lowe’s Companies had a return on equity of 46.46% and a net margin of 3.91%. The company’s revenue was up 9.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.80 earnings per share. On average, equities analysts expect that Lowe’s Companies, Inc. will post $3.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be given a $0.35 dividend. The ex-dividend date of this dividend is Monday, January 23rd. This represents a $1.40 annualized dividend and a yield of 1.91%. Lowe’s Companies’s payout ratio is 51.28%.

LOW has been the subject of several research analyst reports. Royal Bank Of Canada increased their target price on Lowe’s Companies from $75.00 to $83.00 and gave the stock an “outperform” rating in a research report on Thursday, December 8th. Jefferies Group LLC reiterated a “hold” rating and set a $69.00 target price (down previously from $81.00) on shares of Lowe’s Companies in a research report on Tuesday, December 6th. J P Morgan Chase & Co cut Lowe’s Companies from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $87.00 to $72.00 in a research report on Wednesday, October 26th. Zacks Investment Research cut Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Wednesday, October 26th. Finally, BTIG Research restated a “buy” rating on shares of Lowe’s Companies in a report on Wednesday, November 16th. Thirteen analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Lowe’s Companies has a consensus rating of “Buy” and a consensus price target of $82.19.

In related news, insider Marshall A. Croom sold 6,300 shares of the stock in a transaction that occurred on Monday, November 28th. The stock was sold at an average price of $71.52, for a total value of $450,576.00. Following the completion of the transaction, the insider now directly owns 40,602 shares in the company, valued at $2,903,855.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Ricky D. Damron sold 17,225 shares of the stock in a transaction that occurred on Friday, December 9th. The stock was sold at an average price of $74.83, for a total value of $1,288,946.75. Following the completion of the transaction, the chief operating officer now owns 46,725 shares of the company’s stock, valued at $3,496,431.75. The disclosure for this sale can be found here. Insiders sold 26,134 shares of company stock valued at $1,922,909 over the last quarter. 0.39% of the stock is currently owned by company insiders.

About Lowe’s Companies

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

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