Bristol Gate Capital Partners Inc. Sells 20,125 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Bristol Gate Capital Partners Inc. reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.2% in the 2nd quarter, Holdings Channel reports. The fund owned 369,223 shares of the home improvement retailer’s stock after selling 20,125 shares during the quarter. Lowe’s Companies accounts for 4.0% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 22nd biggest position. Bristol Gate Capital Partners Inc.’s holdings in Lowe’s Companies were worth $81,399,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of LOW. Brevan Howard Capital Management LP increased its stake in Lowe’s Companies by 824.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after purchasing an additional 13,680 shares in the last quarter. Bamco Inc. NY increased its position in shares of Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after acquiring an additional 20,181 shares in the last quarter. Plato Investment Management Ltd raised its holdings in shares of Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after acquiring an additional 5,470 shares during the period. 17 Capital Partners LLC bought a new stake in Lowe’s Companies in the 1st quarter valued at $1,368,000. Finally, Gerber LLC acquired a new position in Lowe’s Companies in the 4th quarter worth $235,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 1.7 %

LOW opened at $261.01 on Friday. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The business has a 50 day moving average of $243.06 and a 200-day moving average of $235.27. The stock has a market cap of $148.73 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the firm posted $4.56 EPS. The company’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 36.95%.

Analyst Ratings Changes

Several analysts have issued reports on the company. TD Cowen lifted their price target on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Thursday. Royal Bank of Canada dropped their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Finally, Piper Sandler cut their price objective on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $253.33.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.26% 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. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.