AustralianSuper Pty Ltd Takes $792,000 Position in Lowe’s Companies, Inc. $LOW

AustralianSuper Pty Ltd purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,151 shares of the home improvement retailer’s stock, valued at approximately $792,000.

Several other hedge funds and other institutional investors have also modified their holdings of LOW. Vanguard Group Inc. grew its holdings in shares of Lowe’s Companies by 0.7% during the 2nd quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock worth $12,197,604,000 after purchasing an additional 366,977 shares in the last quarter. State Street Corp raised its stake in shares of Lowe’s Companies by 0.8% in the second quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock valued at $5,527,176,000 after acquiring an additional 207,826 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Lowe’s Companies by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock worth $2,732,049,000 after acquiring an additional 42,190 shares in the last quarter. Norges Bank bought a new stake in Lowe’s Companies during the 2nd quarter worth approximately $1,773,624,000. Finally, Bank of New York Mellon Corp grew its position in Lowe’s Companies by 12.1% during the 3rd quarter. Bank of New York Mellon Corp now owns 4,294,776 shares of the home improvement retailer’s stock worth $1,079,320,000 after acquiring an additional 463,012 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on LOW shares. Sanford C. Bernstein boosted their target price on Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Lowe’s Companies in a research note on Monday, December 29th. UBS Group lowered their target price on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Finally, Evercore ISI lifted their price target on shares of Lowe’s Companies from $250.00 to $280.00 in a research report on Tuesday. Nineteen research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $284.81.

Insider Transactions at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the company’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 completion of the sale, the chief executive officer directly owned 231,043 shares in the company, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $266.93 on Friday. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $281.36. The company has a market capitalization of $149.73 billion, a P/E ratio of 22.13, a price-to-earnings-growth ratio of 4.42 and a beta of 0.96. The company has a 50-day simple moving average of $253.66 and a 200 day simple moving average of $247.66.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.89 EPS. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders 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 dividend on an annualized basis and a yield of 1.8%. Lowe’s Companies’s payout ratio is currently 39.80%.

Lowe’s Companies Company 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.