Bank of New York Mellon Corp Has $1.08 Billion Stake in Lowe’s Companies, Inc. $LOW

Bank of New York Mellon Corp raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 12.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,294,776 shares of the home improvement retailer’s stock after acquiring an additional 463,012 shares during the period. Bank of New York Mellon Corp owned approximately 0.77% of Lowe’s Companies worth $1,079,320,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LOW. Howard Hughes Medical Institute bought a new position in Lowe’s Companies in the 2nd quarter worth approximately $27,000. Solstein Capital LLC boosted its position in shares of 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 acquiring an additional 113 shares during the period. Traub Capital Management LLC acquired a new stake in shares of Lowe’s Companies in the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC increased its position in Lowe’s Companies by 128.8% during the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after acquiring an additional 76 shares during the period. Finally, Olistico Wealth LLC acquired a new position in Lowe’s Companies during the 2nd quarter valued at $33,000. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on LOW shares. HSBC decreased their price target on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research report on Friday, November 21st. Wolfe Research reduced their target price on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating for the company in a research note on Monday, November 24th. UBS Group lowered their price target on Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Wall Street Zen raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Jefferies Financial Group raised their price objective on Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $283.65.

Lowe’s Companies Trading Down 1.4%

NYSE LOW opened at $273.96 on Wednesday. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $281.36. The company has a market capitalization of $153.68 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 4.61 and a beta of 0.96. The stock’s 50 day moving average is $251.41 and its two-hundred day moving average is $247.06.

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

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Insider Buying and Selling at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Profile

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.