Cigna Investments Inc. New reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,330 shares of the home improvement retailer’s stock after selling 2,851 shares during the period. Cigna Investments Inc. New’s holdings in Lowe’s Companies were worth $2,584,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the company. Montgomery Investment Management Inc. purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth $300,000. Summit Financial Group Inc. purchased a new stake in shares of Lowe’s Companies during the 2nd quarter worth $269,000. Global X Management Co. LLC lifted its position in shares of Lowe’s Companies by 9.2% during the 2nd quarter. Global X Management Co. LLC now owns 9,808 shares of the home improvement retailer’s stock worth $760,000 after purchasing an additional 828 shares during the last quarter. Lakeview Capital Partners LLC lifted its position in shares of Lowe’s Companies by 3.6% during the 2nd quarter. Lakeview Capital Partners LLC now owns 3,040 shares of the home improvement retailer’s stock worth $236,000 after purchasing an additional 105 shares during the last quarter. Finally, Advisor Partners LLC lifted its position in shares of Lowe’s Companies by 2.4% during the 2nd quarter. Advisor Partners LLC now owns 16,334 shares of the home improvement retailer’s stock worth $1,266,000 after purchasing an additional 376 shares during the last quarter. 74.20% of the stock is owned by institutional investors and hedge funds.

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In related news, SVP Matthew V. Hollifield sold 7,853 shares of Lowe’s Companies stock in a transaction dated Friday, September 22nd. The shares were sold at an average price of $78.30, for a total value of $614,889.90. Following the sale, the senior vice president now directly owns 30,750 shares in the company, valued at approximately $2,407,725. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Paul D. Ramsay sold 2,098 shares of Lowe’s Companies stock in a transaction dated Tuesday, September 19th. The shares were sold at an average price of $78.02, for a total transaction of $163,685.96. Following the completion of the sale, the insider now owns 8,400 shares in the company, valued at $655,368. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

Lowe’s Companies, Inc. (NYSE:LOW) opened at 79.94 on Friday. Lowe’s Companies, Inc. has a 52 week low of $64.87 and a 52 week high of $86.25. The firm has a market capitalization of $66.57 billion, a price-to-earnings ratio of 22.70 and a beta of 1.07. The stock’s 50 day moving average is $76.25 and its 200-day moving average is $79.59.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.62 by ($0.05). The firm had revenue of $19.50 billion during the quarter, compared to the consensus estimate of $19.58 billion. Lowe’s Companies had a net margin of 4.51% and a return on equity of 62.02%. The company’s revenue for the quarter was up 6.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.37 earnings per share. On average, equities research analysts expect that Lowe’s Companies, Inc. will post $4.50 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be given a $0.41 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $1.64 annualized dividend and a yield of 2.05%. Lowe’s Companies’s dividend payout ratio is presently 46.20%.

A number of equities research analysts recently weighed in on the stock. Jefferies Group LLC reissued a “hold” rating and issued a $75.00 price target on shares of Lowe’s Companies in a research report on Thursday. Royal Bank Of Canada reissued a “buy” rating and issued a $81.00 price target on shares of Lowe’s Companies in a research report on Monday, September 25th. Zacks Investment Research raised shares of Lowe’s Companies from a “sell” rating to a “hold” rating in a research report on Thursday, September 21st. Bank of America Corporation assumed coverage on shares of Lowe’s Companies in a research report on Tuesday, September 5th. They issued a “buy” rating and a $95.00 price target for the company. Finally, J P Morgan Chase & Co reissued a “neutral” rating and issued a $83.00 price target (down from $89.00) on shares of Lowe’s Companies in a research report on Thursday, August 24th. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have assigned a buy rating to the company. Lowe’s Companies presently has a consensus rating of “Hold” and a consensus price target of $85.00.

Lowe’s Companies Profile

Lowe’s Companies, Inc (Lowe’s) is a home improvement company. The Company operates approximately 2,370 home improvement and hardware stores. The Company offers a range of products for maintenance, repair, remodeling and decorating. The Company offers home improvement products in categories, including Lumber and Building Materials; Tools and Hardware; Appliances; Fashion Fixtures; Rough Plumbing and Electrical; Lawn and Garden; Seasonal and Outdoor Living; Paint; Flooring; Millwork, and Kitchens.

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

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