Lowe’s Companies, Inc. (NYSE:LOW) Stock Holdings Lifted by DnB Asset Management AS

DnB Asset Management AS increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 125,898 shares of the home improvement retailer’s stock after acquiring an additional 2,127 shares during the quarter. DnB Asset Management AS’s holdings in Lowe’s Companies were worth $28,415,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at $1,461,267,000. Moneta Group Investment Advisors LLC grew its stake in Lowe’s Companies by 107,710.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after acquiring an additional 5,075,327 shares in the last quarter. Providence Capital Advisors LLC grew its stake in Lowe’s Companies by 19,964.5% during the 1st quarter. Providence Capital Advisors LLC now owns 4,520,122 shares of the home improvement retailer’s stock valued at $22,604,000 after acquiring an additional 4,497,594 shares in the last quarter. Macquarie Group Ltd. grew its stake in Lowe’s Companies by 450.8% during the 1st quarter. Macquarie Group Ltd. now owns 2,556,364 shares of the home improvement retailer’s stock valued at $511,196,000 after acquiring an additional 2,092,245 shares in the last quarter. Finally, Morgan Stanley grew its stake in Lowe’s Companies by 21.3% during the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after acquiring an additional 2,050,089 shares in the last quarter. Hedge funds and other institutional investors own 71.88% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Janice Dupre sold 5,380 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.28, for a total value of $1,244,286.40. Following the transaction, 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 legal filing with the Securities & Exchange Commission, which is available at this link. In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of Lowe’s Companies 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 sale, the executive vice president now owns 46,594 shares of the company’s stock, valued at approximately $10,368,562.82. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies 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 sale, the executive vice president now directly owns 24,216 shares in the company, valued at approximately $5,600,676.48. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on LOW. Wells Fargo & Company lifted their target price on Lowe’s Companies from $245.00 to $250.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. Barclays lowered their price target on Lowe’s Companies from $215.00 to $212.00 in a research note on Wednesday, May 24th. TD Cowen boosted their price target on Lowe’s Companies from $225.00 to $230.00 and gave the company a “market perform” rating in a research note on Wednesday, August 23rd. UBS Group boosted their price target on Lowe’s Companies from $250.00 to $265.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Finally, Argus upped their target price on Lowe’s Companies from $250.00 to $260.00 in a research report on Wednesday, July 12th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $237.48.

Lowe’s Companies Stock Up 0.5 %

NYSE:LOW traded up $1.14 during trading hours on Thursday, reaching $229.96. The company had a trading volume of 597,831 shares, compared to its average volume of 2,782,473. The stock has a 50-day moving average of $227.72 and a two-hundred day moving average of $213.15. Lowe’s Companies, Inc. has a one year low of $176.50 and a one year high of $237.21. The firm has a market capitalization of $132.71 billion, a PE ratio of 22.52, a PEG ratio of 1.52 and a beta of 1.09.

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

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio 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.