Morningstar Investment Services LLC Lowers Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

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Morningstar Investment Services LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 749,580 shares of the home improvement retailer’s stock after selling 98,437 shares during the quarter. Lowe’s Companies comprises approximately 1.6% of Morningstar Investment Services LLC’s portfolio, making the stock its 14th biggest holding. Morningstar Investment Services LLC owned approximately 0.10% of Lowe’s Companies worth $100,084,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the business. Brendel Financial Advisors LLC acquired a new position in Lowe’s Companies during the second quarter valued at approximately $2,741,000. StrongBox Wealth LLC acquired a new position in shares of Lowe’s Companies during the 2nd quarter valued at $223,000. Lyell Wealth Management LP purchased a new stake in Lowe’s Companies during the 2nd quarter worth $216,000. State of Michigan Retirement System increased its holdings in Lowe’s Companies by 9.8% in the 2nd quarter. State of Michigan Retirement System now owns 192,873 shares of the home improvement retailer’s stock valued at $26,061,000 after purchasing an additional 17,198 shares in the last quarter. Finally, Triton Wealth Management PLLC purchased a new position in Lowe’s Companies in the second quarter valued at about $221,000. 74.49% of the stock is currently owned by hedge funds and other institutional investors.

LOW traded down $0.29 during trading on Friday, reaching $148.91. 3,928,596 shares of the company were exchanged, compared to its average volume of 3,264,570. The company has a current ratio of 1.20, a quick ratio of 0.42 and a debt-to-equity ratio of 14.05. The stock has a market cap of $112.65 billion, a P/E ratio of 25.15, a PEG ratio of 1.42 and a beta of 1.44. Lowe’s Companies, Inc. has a 52 week low of $60.00 and a 52 week high of $149.92. The firm has a 50 day moving average of $137.36 and a 200 day moving average of $116.11.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.45. The firm had revenue of $19.68 billion during the quarter, compared to analyst estimates of $18.33 billion. Lowe’s Companies had a net margin of 6.17% and a return on equity of 220.44%. Lowe’s Companies’s revenue was up 10.9% on a year-over-year basis. During the same period in the previous year, the business posted $1.22 EPS. As a group, analysts forecast that Lowe’s Companies, Inc. will post 6.74 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Investors of record on Wednesday, July 22nd will be given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 1.48%. The ex-dividend date of this dividend is Tuesday, July 21st. Lowe’s Companies’s dividend payout ratio is currently 38.46%.

A number of equities research analysts have recently issued reports on LOW shares. Royal Bank of Canada increased their target price on Lowe’s Companies from $136.00 to $165.00 in a research note on Friday, July 24th. Longbow Research boosted their target price on shares of Lowe’s Companies from $130.00 to $150.00 and gave the stock a “buy” rating in a research report on Friday, May 22nd. Jefferies Financial Group upped their target price on shares of Lowe’s Companies from $121.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. TheStreet raised shares of Lowe’s Companies from a “c+” rating to a “b-” rating in a research note on Monday, May 11th. Finally, Cfra upped their price objective on shares of Lowe’s Companies from $125.00 to $139.00 and gave the company a “buy” rating in a research report on Wednesday, May 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-eight have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $140.86.

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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