Bank of New York Mellon Corp lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,102,956 shares of the home improvement retailer’s stock after selling 588,609 shares during the quarter. Bank of New York Mellon Corp owned 0.96% of Lowe’s Companies worth $628,221,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LOW. Alps Advisors Inc. raised its stake in shares of Lowe’s Companies by 0.3% in the 2nd quarter. Alps Advisors Inc. now owns 5,844 shares of the home improvement retailer’s stock valued at $453,000 after purchasing an additional 15 shares during the period. Jaffetilchin Investment Partners LLC raised its stake in shares of Lowe’s Companies by 140.8% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 8,220 shares of the home improvement retailer’s stock valued at $637,000 after purchasing an additional 4,806 shares during the period. Olstein Capital Management L.P. raised its stake in shares of Lowe’s Companies by 19.1% in the 2nd quarter. Olstein Capital Management L.P. now owns 81,000 shares of the home improvement retailer’s stock valued at $6,280,000 after purchasing an additional 13,000 shares during the period. State of Wisconsin Investment Board raised its stake in shares of Lowe’s Companies by 20.5% in the 2nd quarter. State of Wisconsin Investment Board now owns 1,004,134 shares of the home improvement retailer’s stock valued at $77,850,000 after purchasing an additional 170,830 shares during the period. Finally, WASHINGTON TRUST Co raised its stake in shares of Lowe’s Companies by 1.8% in the 2nd quarter. WASHINGTON TRUST Co now owns 4,184 shares of the home improvement retailer’s stock valued at $324,000 after purchasing an additional 75 shares during the period. 74.22% of the stock is currently owned by institutional investors and hedge funds.

Several research firms have issued reports on LOW. Longbow Research reissued a “buy” rating and issued a $95.00 price target on shares of Lowe’s Companies in a research note on Monday, August 14th. Jefferies Group LLC reissued a “hold” rating and issued a $75.00 price target on shares of Lowe’s Companies in a research note on Thursday, September 28th. Piper Jaffray Companies reissued a “hold” rating and issued a $80.00 price target on shares of Lowe’s Companies in a research note on Friday, September 29th. Gordon Haskett began coverage on Lowe’s Companies in a research note on Tuesday, October 3rd. They issued an “accumulate” rating and a $88.00 price target on the stock. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $90.00 price target (up previously from $85.00) on shares of Lowe’s Companies in a research note on Friday. Three analysts have rated the stock with a sell rating, ten have given a hold rating and fourteen have issued a buy rating to the company. Lowe’s Companies has a consensus rating of “Hold” and an average target price of $85.32.

Lowe’s Companies, Inc. (NYSE LOW) opened at 81.86 on Friday. The company has a market cap of $68.17 billion, a PE ratio of 23.24 and a beta of 1.07. The company’s 50-day moving average price is $77.32 and its 200-day moving average price is $79.43. Lowe’s Companies, Inc. has a 12-month low of $64.87 and a 12-month high of $86.25.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 23rd. The home improvement retailer reported $1.57 EPS 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 analysts’ expectations 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 quarterly revenue was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted $1.37 EPS. Equities analysts anticipate that Lowe’s Companies, Inc. will post $4.50 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be paid 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 2.00%. Lowe’s Companies’s dividend payout ratio (DPR) is 46.20%.

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In other news, insider Paul D. Ramsay sold 2,098 shares of the stock in a transaction that occurred on 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 transaction, the insider now directly owns 8,400 shares of the company’s stock, valued at approximately $655,368. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Matthew V. Hollifield sold 7,853 shares of the stock in a transaction that occurred on Friday, September 22nd. The shares were sold at an average price of $78.30, for a total transaction of $614,889.90. Following the transaction, the senior vice president now directly owns 30,750 shares of the company’s stock, valued at $2,407,725. The disclosure for this sale can be found here. Company insiders own 0.11% of the company’s stock.

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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