Sumitomo Mitsui DS Asset Management Company Ltd Raises Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Sumitomo Mitsui DS Asset Management Company Ltd lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 66,599 shares of the home improvement retailer’s stock after purchasing an additional 1,804 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Lowe’s Companies were worth $18,038,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the business. Stephens Consulting LLC raised its position in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. Keener Financial Planning LLC purchased a new stake in Lowe’s Companies during the first quarter valued at approximately $35,000. Kimelman & Baird LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter valued at approximately $37,000. Tsfg LLC boosted its holdings in shares of Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares during the period. Finally, Lynx Investment Advisory bought a new position in shares of Lowe’s Companies during the 2nd quarter valued at approximately $49,000. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Gordon Haskett cut their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. TD Cowen upped their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a report on Thursday, September 19th. Piper Sandler raised their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Royal Bank of Canada cut 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 note on Wednesday, August 21st. Finally, Truist Financial raised their price target on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research note on Monday. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $268.42.

Lowe’s Companies Price Performance

NYSE LOW opened at $281.31 on Friday. The company has a market cap of $160.30 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 2.28 and a beta of 1.10. The stock’s fifty day moving average price is $256.46 and its 200 day moving average price is $238.58. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period last year, the firm posted $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. Research analysts expect that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is 36.95%.

Insider Buying and Selling

In other news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 value 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 approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

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.