Envestnet Asset Management Inc. Has $291.08 Million Position in Lowe’s Companies, Inc. $LOW

Envestnet Asset Management Inc. raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,158,249 shares of the home improvement retailer’s stock after buying an additional 11,363 shares during the quarter. Envestnet Asset Management Inc. owned 0.21% of Lowe’s Companies worth $291,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Norges Bank bought a new position in shares of Lowe’s Companies during the 2nd quarter worth approximately $1,773,624,000. Tableaux LLC acquired a new position in Lowe’s Companies during the second quarter worth $282,884,000. Laurel Wealth Advisors LLC lifted its holdings in shares of Lowe’s Companies by 22,167.5% during the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock valued at $229,041,000 after acquiring an additional 1,027,683 shares during the period. Worldquant Millennium Advisors LLC boosted its stake in shares of Lowe’s Companies by 243.2% in the 2nd quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock valued at $247,817,000 after purchasing an additional 791,526 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of Lowe’s Companies by 101.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 1,244,941 shares of the home improvement retailer’s stock worth $312,866,000 after purchasing an additional 626,829 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Price Performance

LOW stock opened at $275.79 on Thursday. The company has a 50 day moving average price of $255.88 and a 200 day moving average price of $249.04. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $281.36. The stock has a market capitalization of $154.70 billion, a PE ratio of 22.87, a price-to-earnings-growth ratio of 4.30 and a beta of 0.97.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. The company 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%.The business’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the firm earned $2.89 EPS. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, January 21st. Lowe’s Companies’s payout ratio is currently 39.80%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on LOW. Mizuho cut their price target on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Jefferies Financial Group raised their price objective on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a report on Friday, December 19th. Wolfe Research cut 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. DA Davidson decreased their price target on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Finally, Morgan Stanley lifted their price objective on Lowe’s Companies from $270.00 to $296.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $284.81.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the company’s 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 transaction, 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 document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.27% of the company’s stock.

About Lowe’s Companies

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.