Fifth Third Bancorp Grows Stake in Lowe’s Companies, Inc. $LOW

Fifth Third Bancorp increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 281,876 shares of the home improvement retailer’s stock after acquiring an additional 2,563 shares during the quarter. Fifth Third Bancorp’s holdings in Lowe’s Companies were worth $70,838,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Maj Invest Holding A S lifted its stake in shares of Lowe’s Companies by 15.7% in the third quarter. Maj Invest Holding A S now owns 802,990 shares of the home improvement retailer’s stock valued at $201,801,000 after purchasing an additional 108,813 shares during the period. Bridges Investment Management Inc. grew its position in Lowe’s Companies by 13.4% during the third quarter. Bridges Investment Management Inc. now owns 420,832 shares of the home improvement retailer’s stock worth $105,759,000 after buying an additional 49,858 shares during the period. Facet Wealth Inc. purchased a new position in Lowe’s Companies in the third quarter valued at about $558,000. Prudential Financial Inc. lifted its position in shares of Lowe’s Companies by 0.7% during the 2nd quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock valued at $183,344,000 after acquiring an additional 5,820 shares during the period. Finally, Jennison Associates LLC lifted its position in shares of Lowe’s Companies by 22.0% during the 2nd quarter. Jennison Associates LLC now owns 497,628 shares of the home improvement retailer’s stock valued at $110,409,000 after acquiring an additional 89,839 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 0.6%

Lowe’s Companies stock opened at $287.36 on Monday. The stock has a 50-day moving average price of $261.04 and a 200 day moving average price of $251.90. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $293.06. The stock has a market cap of $161.19 billion, a PE ratio of 23.83, a P/E/G ratio of 4.48 and a beta of 0.97.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results 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. The company had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the company earned $2.89 EPS. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Insider Buying and Selling

In other news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the sale, the chief executive officer owned 231,043 shares in the company, valued at $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

LOW has been the topic of a number of research reports. The Goldman Sachs Group upped their price target on Lowe’s Companies from $280.00 to $283.00 and gave the stock a “buy” rating in a report on Friday. DA Davidson decreased their target price on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Wolfe Research dropped their price target on Lowe’s Companies from $285.00 to $284.00 and set an “outperform” rating for the company in a research report on Wednesday, February 4th. Argus cut their price target on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Finally, UBS Group decreased their price objective on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Twenty research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $287.22.

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.