Macquarie Group Ltd. Has $511.20 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Macquarie Group Ltd. raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 450.8% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 2,556,364 shares of the home improvement retailer’s stock after acquiring an additional 2,092,245 shares during the quarter. Lowe’s Companies makes up about 0.6% of Macquarie Group Ltd.’s portfolio, making the stock its 20th largest holding. Macquarie Group Ltd. owned about 0.43% of Lowe’s Companies worth $511,196,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Missouri Trust & Investment Co lifted its stake in shares of Lowe’s Companies by 1.5% in the 4th quarter. Missouri Trust & Investment Co now owns 3,360 shares of the home improvement retailer’s stock worth $669,000 after purchasing an additional 50 shares during the period. Key Client Fiduciary Advisors LLC lifted its stake in shares of Lowe’s Companies by 2.5% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 2,047 shares of the home improvement retailer’s stock worth $409,000 after purchasing an additional 50 shares during the period. Legacy Financial Advisors Inc. lifted its stake in shares of Lowe’s Companies by 2.6% in the 1st quarter. Legacy Financial Advisors Inc. now owns 1,993 shares of the home improvement retailer’s stock worth $399,000 after purchasing an additional 50 shares during the period. Summit X LLC lifted its stake in shares of Lowe’s Companies by 3.6% in the 1st quarter. Summit X LLC now owns 1,427 shares of the home improvement retailer’s stock worth $285,000 after purchasing an additional 50 shares during the period. Finally, Transform Wealth LLC lifted its stake in shares of Lowe’s Companies by 0.3% in the 1st quarter. Transform Wealth LLC now owns 16,932 shares of the home improvement retailer’s stock worth $3,386,000 after purchasing an additional 51 shares during the period. 71.88% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the sale, the executive vice president now owns 24,216 shares of the company’s stock, valued at $5,600,676.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $222.53, for a total value of $1,001,385.00. Following the completion of the transaction, the executive vice president now directly owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Janice Dupre sold 5,380 shares of the business’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total value of $1,244,286.40. Following the completion of the transaction, the executive vice president now directly owns 24,216 shares of the company’s stock, valued at $5,600,676.48. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on LOW shares. Evercore ISI reduced their target price on shares of Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating for the company in a report on Friday, September 8th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. 888 reissued a “maintains” rating on shares of Lowe’s Companies in a report on Wednesday, May 17th. TD Cowen increased their target price on shares of Lowe’s Companies from $225.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, August 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $230.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $237.48.

Lowe’s Companies Stock Performance

LOW traded down $1.47 on Wednesday, hitting $228.97. The company had a trading volume of 997,204 shares, compared to its average volume of 2,784,982. The stock has a fifty day moving average price of $227.72 and a 200-day moving average price of $213.15. Lowe’s Companies, Inc. has a 12-month low of $176.50 and a 12-month high of $237.21. The stock has a market capitalization of $132.14 billion, a price-to-earnings ratio of 22.68, a P/E/G ratio of 1.52 and a beta of 1.09.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, topping the consensus estimate of $4.49 by $0.07. The business had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.97 billion. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The company’s quarterly revenue was down 9.2% on a year-over-year basis. During the same quarter last year, the company earned $4.67 earnings per share. Analysts forecast that Lowe’s Companies, Inc. will post 13.45 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio (DPR) is 43.31%.

Lowe’s Companies Company 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.