Lowe’s Companies, Inc. (LOW) Holdings Boosted by Montag & Caldwell LLC

Montag & Caldwell LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 41.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 659,911 shares of the home improvement retailer’s stock after buying an additional 194,080 shares during the period. Lowe’s Companies makes up approximately 3.0% of Montag & Caldwell LLC’s investment portfolio, making the stock its 16th largest holding. Montag & Caldwell LLC’s holdings in Lowe’s Companies were worth $75,771,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Ironsides Asset Advisors LLC boosted its stake in shares of Lowe’s Companies by 698.3% during 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 boosted its stake in shares of Lowe’s Companies by 382.4% during 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 purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $303,908,000. Charles Schwab Investment Advisory Inc. purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $266,540,000. Finally, Artisan Partners Limited Partnership purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $206,665,000. Institutional investors own 74.60% of the company’s stock.

Several equities research analysts have recently commented on LOW shares. Jefferies Financial Group started coverage on Lowe’s Companies in a research note on Tuesday, August 21st. They set a “buy” rating and a $118.00 price target on the stock. SunTrust Banks raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $55.00 price target on the stock in a research note on Friday, September 28th. Morgan Stanley boosted their price target on Lowe’s Companies from $115.00 to $125.00 and gave the stock an “overweight” rating in a research note on Thursday, October 11th. Robert W. Baird reissued an “outperform” rating and set a $130.00 price target (up previously from $120.00) on shares of Lowe’s Companies in a research note on Monday, September 17th. Finally, Wells Fargo & Co reaffirmed a “buy” rating on shares of Lowe’s Companies in a research note on Thursday, September 13th. Eight investment analysts have rated the stock with a hold rating and twenty-five have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $112.11.

Shares of Lowe’s Companies stock opened at $96.82 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $76.62 and a fifty-two week high of $117.70. The firm has a market cap of $78.26 billion, a price-to-earnings ratio of 19.17, a price-to-earnings-growth ratio of 1.30 and a beta of 1.52. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.25 and a current ratio of 1.06.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 22nd. The home improvement retailer reported $2.07 earnings per share for the quarter, topping analysts’ consensus estimates of $2.02 by $0.05. Lowe’s Companies had a return on equity of 71.96% and a net margin of 5.58%. The company had revenue of $20.89 billion for the quarter, compared to analyst estimates of $20.79 billion. During the same quarter in the prior year, the company posted $1.57 EPS. The business’s revenue for the quarter was up 7.1% compared to the same quarter last year. Analysts expect that Lowe’s Companies, Inc. will post 5.19 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 7th. Shareholders of record on Wednesday, October 24th will be paid a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Tuesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 43.74%.

In other Lowe’s Companies news, CFO Marshall A. Croom sold 15,735 shares of the stock in a transaction on Tuesday, September 18th. The stock was sold at an average price of $114.61, for a total transaction of $1,803,388.35. Following the transaction, the chief financial officer now owns 63,099 shares of the company’s stock, valued at approximately $7,231,776.39. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Lisa W. Wardell purchased 273 shares of Lowe’s Companies stock in a transaction on Friday, August 24th. The shares were acquired at an average cost of $107.72 per share, for a total transaction of $29,407.56. Following the purchase, the director now owns 273 shares in the company, valued at $29,407.56. The disclosure for this purchase can be found here. Corporate 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.

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

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