Summit Global Investments Purchases 1,113 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Summit Global Investments boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 70.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 2,688 shares of the home improvement retailer’s stock after purchasing an additional 1,113 shares during the quarter. Summit Global Investments’ holdings in Lowe’s Companies were worth $598,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LOW. Morgan Stanley boosted its position in shares of Lowe’s Companies by 1.1% in the 3rd quarter. Morgan Stanley now owns 10,930,693 shares of the home improvement retailer’s stock worth $2,271,836,000 after purchasing an additional 116,855 shares in the last quarter. Northern Trust Corp grew its stake in shares of Lowe’s Companies by 1.1% in the third quarter. Northern Trust Corp now owns 7,138,824 shares of the home improvement retailer’s stock worth $1,483,733,000 after acquiring an additional 78,901 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Lowe’s Companies by 189.5% during the third quarter. Schroder Investment Management Group now owns 2,798,268 shares of the home improvement retailer’s stock valued at $581,592,000 after acquiring an additional 1,831,727 shares in the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Lowe’s Companies by 187,225.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,111,159 shares of the home improvement retailer’s stock worth $438,783,000 after purchasing an additional 2,110,032 shares during the last quarter. Finally, International Assets Investment Management LLC purchased a new position in shares of Lowe’s Companies in the 4th quarter worth about $430,090,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. DA Davidson reissued a “neutral” rating and set a $270.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, March 27th. Oppenheimer restated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Monday, March 4th. Morgan Stanley lifted their target price on Lowe’s Companies from $240.00 to $250.00 and gave the stock an “overweight” rating in a report on Wednesday, February 28th. The Goldman Sachs Group upped their price target on Lowe’s Companies from $238.00 to $262.00 and gave the company a “buy” rating in a report on Tuesday, February 13th. Finally, Wells Fargo & Company upped their target price on shares of Lowe’s Companies from $235.00 to $250.00 and gave the company an “overweight” rating in a research note on Tuesday, February 13th. Fifteen analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $252.52.

Lowe’s Companies Trading Up 1.1 %

Lowe’s Companies stock opened at $232.13 on Friday. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The firm has a market capitalization of $132.82 billion, a price-to-earnings ratio of 17.64, a P/E/G ratio of 1.72 and a beta of 1.15. The firm has a 50 day moving average of $240.07 and a 200 day moving average of $220.75.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, February 27th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.68 by $0.09. Lowe’s Companies had a net margin of 8.94% and a negative return on equity of 51.42%. The firm had revenue of $18.60 billion during the quarter, compared to analysts’ expectations of $18.47 billion. During the same period in the prior year, the company posted $2.28 earnings per share. The company’s revenue for the quarter was down 17.1% compared to the same quarter last year. On average, analysts predict that Lowe’s Companies, Inc. will post 12.21 EPS for the current year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 8th. Stockholders of record on Wednesday, April 24th will be paid a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Tuesday, April 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 33.43%.

Lowe’s Companies Profile

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.