Eventide Asset Management Lowers stake in Lowe's Companies (LOW)

Lowe's Companies (LOW) : Eventide Asset Management reduced its stake in Lowe's Companies by 6.77% during the most recent quarter end. The investment management company now holds a total of 620,000 shares of Lowe's Companies which is valued at $43,406,200 after selling 45,000 shares in Lowe's Companies , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Lowe's Companies makes up approximately 2.63% of Eventide Asset Management’s portfolio.

Other Hedge Funds, Including , Bluemountain Capital Management reduced its stake in LOW by selling 9,054 shares or 58.03% in the most recent quarter. The Hedge Fund company now holds 6,548 shares of LOW which is valued at $458,425. Lowe's Companies makes up approx 0.01% of Bluemountain Capital Management’s portfolio.Sii Investments Incwi boosted its stake in LOW in the latest quarter, The investment management firm added 2,833 additional shares and now holds a total of 9,830 shares of Lowe's Companies which is valued at $682,792. Lowe's Companies makes up approx 0.05% of Sii Investments Incwi’s portfolio.Wesbanco Bank Inc boosted its stake in LOW in the latest quarter, The investment management firm added 4,146 additional shares and now holds a total of 64,770 shares of Lowe's Companies which is valued at $4,393,997. Lowe's Companies makes up approx 0.26% of Wesbanco Bank Inc’s portfolio. Parkwood sold out all of its stake in LOW during the most recent quarter. The investment firm sold 4,171 shares of LOW which is valued $291,511.Rnc Capital Management boosted its stake in LOW in the latest quarter, The investment management firm added 34,139 additional shares and now holds a total of 39,596 shares of Lowe's Companies which is valued at $2,781,223. Lowe's Companies makes up approx 0.25% of Rnc Capital Management’s portfolio.

Lowe's Companies opened for trading at $67.92 and hit $69.58 on the upside on Monday, eventually ending the session at $69.31, with a gain of 2.00% or 1.36 points. The heightened volatility saw the trading volume jump to 1,06,24,567 shares. Company has a market cap of $60,508 M.

On the company’s financial health, Lowe's Companies reported $0.88 EPS for the quarter, missing the analyst consensus estimate by $ -0.09 based on the information available during the earnings call on Nov 16, 2016. Analyst had a consensus of $0.97. The company had revenue of $15739.00 million for the quarter, compared to analysts expectations of $15830.42 million. The company’s revenue was up 9.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.80 EPS.

Investors should note that on Nov 11, 2016, Lowe's Companies announced a cash dividend of $0.3500. The company’s management has announced Jan 23, 2017 as the ex-dividend date and fixed the record date on Jan 25, 2017. The payable date has been fixed on Feb 8, 2017.

Many Wall Street Analysts have commented on Lowe's Companies. Shares were Downgraded by Telsey Advisory Group on Nov 17, 2016 to ” Market Perform” and Lowered the Price Target to $ 75 from a previous price target of $88 .Lowe's Companies was Downgraded by Piper Jaffray to ” Neutral” on Oct 31, 2016. Lowe's Companies was Downgraded by JP Morgan to ” Neutral” on Oct 26, 2016.

Lowe’s Companies Inc. (Lowe’s) is a home improvement retailer. As of January 30 2015 Lowe’s operated 1840 home improvement and hardware stores representing approximately 201 million square feet of retail selling space. Lowe’s is consisted of 1793 stores located across 50 states in the United States including 74 Orchard Supply Hardware (Orchard) stores in California and Oregon as well as 37 stores in Canada and 10 stores in Mexico. It serves homeowners renters and professional customers (Pro customers). Its retail customers consisted of individual homeowners and renters complete a range of projects. The Pro customer consists of two categories: construction trades and maintenance repair and operations. The Company offers a range of products for maintenance repair remodeling and decorating.

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