Lowe’s Companies, Inc. $LOW Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 608,373 shares of the home improvement retailer’s stock after selling 8,178 shares during the quarter. Principal Financial Group Inc. owned 0.11% of Lowe’s Companies worth $152,890,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Waterloo Capital L.P. boosted its stake in Lowe’s Companies by 1.2% during the 2nd quarter. Waterloo Capital L.P. now owns 3,455 shares of the home improvement retailer’s stock valued at $767,000 after purchasing an additional 41 shares in the last quarter. TruWealth Advisors LLC raised its stake in shares of Lowe’s Companies by 2.7% in the 3rd quarter. TruWealth Advisors LLC now owns 1,580 shares of the home improvement retailer’s stock worth $397,000 after buying an additional 42 shares in the last quarter. Cypress Wealth Services LLC lifted its holdings in shares of Lowe’s Companies by 2.0% in the third quarter. Cypress Wealth Services LLC now owns 2,191 shares of the home improvement retailer’s stock valued at $551,000 after buying an additional 42 shares during the period. Hidden Cove Wealth Management LLC boosted its stake in Lowe’s Companies by 4.6% during the third quarter. Hidden Cove Wealth Management LLC now owns 960 shares of the home improvement retailer’s stock valued at $241,000 after buying an additional 42 shares in the last quarter. Finally, Roble Belko & Company Inc boosted its stake in Lowe’s Companies by 21.4% during the third quarter. Roble Belko & Company Inc now owns 250 shares of the home improvement retailer’s stock valued at $63,000 after buying an additional 44 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the sale, the chief executive officer owned 231,043 shares in the company, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.27% of the stock is owned by company insiders.

Lowe’s Companies Trading Up 0.9%

Shares of NYSE:LOW opened at $269.37 on Tuesday. The firm has a market cap of $151.10 billion, a price-to-earnings ratio of 22.34, a P/E/G ratio of 4.43 and a beta of 0.97. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $281.36. The business has a fifty day simple moving average of $254.47 and a 200 day simple moving average of $248.46.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The business’s 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, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the stock. Stifel Nicolaus upped their price target on shares of Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a report on Monday, December 1st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lowe’s Companies in a report on Monday, December 29th. Bank of America cut their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. JPMorgan Chase & Co. lifted their price target on shares of Lowe’s Companies from $275.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, November 20th. Finally, Robert W. Baird dropped their price target on Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Nineteen research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $284.81.

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.