Pinnacle Financial Partners Inc. Has $508,000 Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Pinnacle Financial Partners Inc. increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 34.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,039 shares of the home improvement retailer’s stock after buying an additional 1,292 shares during the quarter. Pinnacle Financial Partners Inc.’s holdings in Lowe’s Companies were worth $508,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the stock. Meadow Creek Investment Management LLC increased its holdings in Lowe’s Companies by 124.1% in the 2nd quarter. Meadow Creek Investment Management LLC now owns 56,298 shares of the home improvement retailer’s stock worth $5,681,000 after purchasing an additional 31,174 shares in the last quarter. Glen Harbor Capital Management LLC lifted its holdings in shares of Lowe’s Companies by 124.1% during the second quarter. Glen Harbor Capital Management LLC now owns 71,652 shares of the home improvement retailer’s stock worth $7,230,000 after purchasing an additional 39,676 shares during the period. Elkfork Partners LLC raised its position in Lowe’s Companies by 124.1% during the 2nd quarter. Elkfork Partners LLC now owns 87,006 shares of the home improvement retailer’s stock worth $8,780,000 after purchasing an additional 48,178 shares during the last quarter. Flinton Capital Management LLC increased its stake in shares of Lowe’s Companies by 124.1% in the second quarter. Flinton Capital Management LLC now owns 40,944 shares of the home improvement retailer’s stock valued at $4,132,000 after buying an additional 22,672 shares during the period. Finally, Canada Pension Plan Investment Board lifted its stake in shares of Lowe’s Companies by 11.5% in the second quarter. Canada Pension Plan Investment Board now owns 786,970 shares of the home improvement retailer’s stock worth $79,413,000 after acquiring an additional 81,426 shares during the period. Institutional investors and hedge funds own 76.92% of the company’s stock.

In other Lowe’s Companies news, EVP Donald Frieson bought 2,030 shares of the stock in a transaction on Wednesday, June 19th. The shares were acquired at an average price of $98.69 per share, with a total value of $200,340.70. Following the acquisition, the executive vice president now directly owns 10,980 shares of the company’s stock, valued at approximately $1,083,616.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.07% of the company’s stock.

NYSE:LOW traded down $1.05 on Wednesday, reaching $114.23. 201,537 shares of the company’s stock were exchanged, compared to its average volume of 5,560,189. The company has a debt-to-equity ratio of 7.80, a current ratio of 1.06 and a quick ratio of 0.19. The firm has a market cap of $88.59 billion, a price-to-earnings ratio of 22.20, a P/E/G ratio of 1.49 and a beta of 1.30. Lowe’s Companies, Inc. has a 52 week low of $84.75 and a 52 week high of $118.23. The stock has a fifty day simple moving average of $104.06 and a 200-day simple moving average of $104.70.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.15. The company had revenue of $20.99 billion for the quarter, compared to analyst estimates of $20.96 billion. Lowe’s Companies had a net margin of 3.52% and a return on equity of 111.09%. The company’s quarterly revenue was up .5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.07 earnings per share. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 5.65 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, October 22nd. This represents a $2.20 dividend on an annualized basis and a yield of 1.93%. Lowe’s Companies’s dividend payout ratio is 42.80%.

Several research analysts have issued reports on LOW shares. UBS Group raised their price target on shares of Lowe’s Companies from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Telsey Advisory Group lifted their price objective on shares of Lowe’s Companies from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Barclays lifted their price target on shares of Lowe’s Companies from $95.00 to $105.00 and gave the company an “equal weight” rating in a research note on Monday, June 24th. Wells Fargo & Co reissued an “outperform” rating and issued a $125.00 price objective (up previously from $110.00) on shares of Lowe’s Companies in a research note on Thursday, August 22nd. Finally, KeyCorp restated an “overweight” rating and set a $125.00 price objective (up previously from $120.00) on shares of Lowe’s Companies in a report on Thursday, August 22nd. Nine research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $116.36.

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. 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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