Rhumbline Advisers Boosts Stock Position in Lowe’s Companies, Inc. $LOW

Rhumbline Advisers boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,113,189 shares of the home improvement retailer’s stock after acquiring an additional 19,757 shares during the quarter. Rhumbline Advisers’ holdings in Lowe’s Companies were worth $279,756,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Activest Wealth Management lifted its holdings in Lowe’s Companies by 78.5% during the 3rd quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 51 shares in the last quarter. Howard Hughes Medical Institute acquired a new stake in shares of Lowe’s Companies in the second quarter valued at $27,000. Solstein Capital LLC boosted its holdings in Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 113 shares during the period. Traub Capital Management LLC acquired a new position in Lowe’s Companies during the 2nd quarter worth $30,000. Finally, Vermillion & White Wealth Management Group LLC increased its holdings in Lowe’s Companies by 128.8% during the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 76 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 2.7%

Shares of LOW opened at $284.30 on Wednesday. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $285.73. The firm has a market capitalization of $159.48 billion, a P/E ratio of 23.57, a PEG ratio of 4.33 and a beta of 0.97. The firm’s 50-day moving average is $258.68 and its two-hundred day moving average is $250.69.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The firm had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. During the same period in the previous year, the firm posted $2.89 earnings per share. Lowe’s Companies’s revenue was up 3.2% on a year-over-year basis. Analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st were issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is 39.80%.

Insider Activity at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at $60,341,500.31. This trade represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on LOW shares. JPMorgan Chase & Co. lifted their price objective on Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Jefferies Financial Group increased their target price on Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 19th. Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 price target for the company in a report on Tuesday, January 13th. Truist Financial set a $295.00 price objective on shares of Lowe’s Companies in a report on Friday, January 16th. Finally, Royal Bank Of Canada lowered their target price on shares of Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating for the company in a report on Thursday, November 20th. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $284.77.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.