Putnam Investments LLC Decreases Holdings in Lowe’s Companies, Inc. (LOW)

Putnam Investments LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 33.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,196,822 shares of the home improvement retailer’s stock after selling 611,645 shares during the quarter. Putnam Investments LLC owned about 0.15% of Lowe’s Companies worth $114,380,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of LOW. Ironsides Asset Advisors LLC increased its stake in shares of Lowe’s Companies by 698.3% in the 2nd quarter. Ironsides Asset Advisors LLC now owns 8,327,089 shares of the home improvement retailer’s stock worth $98,637,000 after acquiring an additional 7,284,000 shares in the last quarter. Boston Partners increased its stake in shares of Lowe’s Companies by 382.4% in the 2nd quarter. Boston Partners now owns 4,784,235 shares of the home improvement retailer’s stock worth $457,230,000 after acquiring an additional 3,792,479 shares in the last quarter. Winslow Capital Management LLC bought a new position in shares of Lowe’s Companies in the 2nd quarter worth about $303,908,000. Charles Schwab Investment Advisory Inc. bought a new position in shares of Lowe’s Companies in the 2nd quarter worth about $266,540,000. Finally, Artisan Partners Limited Partnership bought a new position in shares of Lowe’s Companies in the 2nd quarter worth about $206,665,000. Institutional investors own 74.13% of the company’s stock.

Shares of NYSE LOW opened at $113.89 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.25 and a debt-to-equity ratio of 2.58. The stock has a market cap of $92.42 billion, a PE ratio of 25.94, a P/E/G ratio of 1.53 and a beta of 1.40. Lowe’s Companies, Inc. has a 52-week low of $75.36 and a 52-week high of $114.54.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.05. The firm had revenue of $20.89 billion for the quarter, compared to the consensus estimate of $20.79 billion. Lowe’s Companies had a net margin of 5.58% and a return on equity of 71.96%. The business’s quarterly revenue was up 7.1% compared to the same quarter last year. During the same quarter last year, the firm posted $1.57 EPS. equities research analysts forecast that Lowe’s Companies, Inc. will post 5.2 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Stockholders of record on Wednesday, October 24th will be issued a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Tuesday, October 23rd. Lowe’s Companies’s payout ratio is presently 43.74%.

Several research analysts recently issued reports on the stock. Wells Fargo & Co reiterated a “buy” rating on shares of Lowe’s Companies in a research note on Thursday. Loop Capital set a $130.00 price objective on shares of Lowe’s Companies and gave the company a “buy” rating in a research note on Wednesday, August 22nd. SunTrust Banks raised their price objective on shares of Lowe’s Companies to $110.00 and gave the company a “hold” rating in a research note on Thursday, August 23rd. Deutsche Bank raised their price objective on shares of Lowe’s Companies to $118.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Finally, Argus raised their price objective on shares of Lowe’s Companies to $120.00 and gave the company a “buy” rating in a research note on Thursday, August 23rd. Ten research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company. Lowe’s Companies currently has a consensus rating of “Buy” and an average price target of $111.41.

In related news, Director Lisa W. Wardell purchased 273 shares of the company’s stock in a transaction dated Friday, August 24th. The shares were purchased at an average price of $107.72 per share, with a total value of $29,407.56. Following the acquisition, the director now directly owns 273 shares in the company, valued at approximately $29,407.56. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.30% of the company’s stock.

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. It offers a line of products for maintenance, repair, remodeling, and decorating. The company provides home improvement products in various categories, such as lumber and building materials, tools and hardware, appliances, fashion fixtures, rough plumbing and electrical, seasonal and outdoor living, lawn and garden, paint, millwork, flooring, and kitchens, as well as outdoor power equipment.

Further Reading: Understanding Compound Annual Growth Rate (CAGR)

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

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