Renaissance Investment Group LLC Buys New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Renaissance Investment Group LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 925 shares of the home improvement retailer’s stock, valued at approximately $209,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capital Market Strategies LLC bought a new stake in Lowe’s Companies in the second quarter valued at about $643,000. Engrave Wealth Partners LLC grew its stake in Lowe’s Companies by 14.5% during the second quarter. Engrave Wealth Partners LLC now owns 1,367 shares of the home improvement retailer’s stock worth $309,000 after buying an additional 173 shares during the last quarter. Glassy Mountain Advisors Inc. bought a new stake in Lowe’s Companies during the second quarter worth about $8,991,000. Neville Rodie & Shaw Inc. grew its stake in Lowe’s Companies by 31.9% during the second quarter. Neville Rodie & Shaw Inc. now owns 3,016 shares of the home improvement retailer’s stock worth $681,000 after buying an additional 730 shares during the last quarter. Finally, DnB Asset Management AS grew its stake in Lowe’s Companies by 1.7% during the second quarter. DnB Asset Management AS now owns 125,898 shares of the home improvement retailer’s stock worth $28,415,000 after buying an additional 2,127 shares during the last quarter. Institutional investors own 71.88% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Evercore ISI decreased their price objective on shares of Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating on the stock in a research note on Friday, September 8th. Loop Capital upped their price objective on shares of Lowe’s Companies from $215.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Oppenheimer reiterated an “outperform” rating and set a $275.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 9th. UBS Group upped their target price on shares of Lowe’s Companies from $250.00 to $265.00 and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Finally, Truist Financial upped their target price on shares of Lowe’s Companies from $249.00 to $256.00 and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Hold” and a consensus target price of $237.48.

Insider Activity at Lowe’s Companies

In related news, EVP Janice Dupre sold 5,380 shares of the firm’s stock in a transaction 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 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 SEC, which can be accessed through the SEC website. In related news, EVP Janice Dupre sold 5,380 shares of the firm’s stock in a transaction 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 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 SEC, which can be accessed through the SEC website. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of the firm’s stock in a transaction on Monday, August 28th. The shares were sold at an average price of $222.53, for a total transaction 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 approximately $10,368,562.82. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Lowe’s Companies Stock Up 0.9 %

Shares of LOW stock opened at $230.83 on Friday. The firm has a fifty day moving average of $227.78 and a 200-day moving average of $213.26. Lowe’s Companies, Inc. has a 12-month low of $176.50 and a 12-month high of $237.21. The company has a market capitalization of $133.21 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 1.49 and a beta of 1.09.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.49 by $0.07. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. The company had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.97 billion. During the same quarter in the prior year, the firm earned $4.67 earnings per share. The firm’s revenue was down 9.2% compared to the same quarter last year. On average, equities analysts expect that Lowe’s Companies, Inc. will post 13.46 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a dividend 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%.

About Lowe’s Companies

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.