Pacific Global Investment Management CO Sells 498 Shares of Lowe's Companies, Inc. (LOW)

Pacific Global Investment Management CO cut its position in shares of Lowe's Companies, Inc. (NYSE:LOW) by 1.6% during the fourth quarter, Holdings Channel reports. The fund owned 30,745 shares of the home improvement retailer’s stock after selling 498 shares during the period. Pacific Global Investment Management CO’s holdings in Lowe's Companies were worth $2,187,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. State Street Corp raised its position in Lowe's Companies by 2.4% in the fourth quarter. State Street Corp now owns 42,279,456 shares of the home improvement retailer’s stock valued at $3,006,918,000 after buying an additional 986,519 shares in the last quarter. BlackRock Institutional Trust Company N.A. raised its position in Lowe's Companies by 2.7% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 26,101,834 shares of the home improvement retailer’s stock valued at $1,884,813,000 after buying an additional 698,133 shares in the last quarter. Ameriprise Financial Inc. raised its position in Lowe's Companies by 1.0% in the third quarter. Ameriprise Financial Inc. now owns 13,296,128 shares of the home improvement retailer’s stock valued at $960,149,000 after buying an additional 134,459 shares in the last quarter. BlackRock Fund Advisors raised its position in Lowe's Companies by 1.0% in the third quarter. BlackRock Fund Advisors now owns 12,081,066 shares of the home improvement retailer’s stock valued at $872,374,000 after buying an additional 113,988 shares in the last quarter. Finally, BlackRock Group LTD raised its position in Lowe's Companies by 7.3% in the third quarter. BlackRock Group LTD now owns 8,524,664 shares of the home improvement retailer’s stock valued at $615,566,000 after buying an additional 578,650 shares in the last quarter. Institutional investors own 74.46% of the company’s stock.

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

Lowe's Companies, Inc. (NYSE:LOW) opened at 83.53 on Monday. The stock’s 50 day moving average price is $77.19 and its 200-day moving average price is $72.89. Lowe's Companies, Inc. has a 12 month low of $64.87 and a 12 month high of $84.00. The firm has a market capitalization of $72.34 billion, a P/E ratio of 24.07 and a beta of 1.28.

Lowe's Companies (NYSE:LOW) last released its earnings results on Wednesday, March 1st. The home improvement retailer reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.79 by $0.07. Lowe's Companies had a return on equity of 46.46% and a net margin of 3.91%. The firm had revenue of $15.78 billion for the quarter, compared to the consensus estimate of $15.39 billion. During the same period in the prior year, the business posted $0.59 earnings per share. The firm’s revenue for the quarter was up 19.3% compared to the same quarter last year. On average, analysts forecast that Lowe's Companies, Inc. will post $4.63 earnings per share for the current year.

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Several research firms have recently commented on LOW. Zacks Investment Research upgraded Lowe's Companies from a “sell” rating to a “hold” rating in a report on Thursday, January 5th. Wedbush reiterated a “neutral” rating and set a $73.00 price target on shares of Lowe's Companies in a report on Wednesday, November 30th. Royal Bank of Canada lifted their price target on Lowe's Companies from $75.00 to $83.00 and gave the stock an “outperform” rating in a report on Thursday, December 8th. Citigroup Inc lowered Lowe's Companies from a “buy” rating to a “neutral” rating in a report on Monday, December 19th. Finally, Telsey Advisory Group lowered Lowe's Companies from an “outperform” rating to a “market perform” rating and lifted their price target for the stock from $75.00 to $80.00 in a report on Tuesday, December 6th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have given a buy rating to the stock. Lowe's Companies currently has a consensus rating of “Hold” and an average price target of $82.52.

In related news, insider Nelson B. Peace sold 3,568 shares of the stock in a transaction dated Monday, March 6th. The stock was sold at an average price of $81.30, for a total transaction of $290,078.40. Following the transaction, the insider now directly owns 5,860 shares in the company, valued at $476,418. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Robert A. Niblock sold 447,000 shares of the stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $81.07, for a total value of $36,238,290.00. Following the transaction, the chairman now owns 479,507 shares in the company, valued at $38,873,632.49. The disclosure for this sale can be found here. Insiders have sold 490,505 shares of company stock worth $39,758,270 over the last quarter. 0.39% of the stock is currently owned by company insiders.

About Lowe's Companies

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

5 Day Chart for NYSE:LOW

Want to see what other hedge funds are holding LOW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Lowe's Companies, Inc. (NYSE:LOW).

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