TrueMark Investments LLC Invests $2.01 Million in Lowe’s Companies, Inc. $LOW

TrueMark Investments LLC purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 8,000 shares of the home improvement retailer’s stock, valued at approximately $2,010,000.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake 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 valued at $12,197,604,000 after buying an additional 366,977 shares during the period. State Street Corp raised its holdings in shares of Lowe’s Companies by 0.8% during the second quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock worth $5,527,176,000 after acquiring an additional 207,826 shares in the last quarter. Geode Capital Management LLC boosted its position in Lowe’s Companies by 0.3% during the second quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock valued at $2,732,049,000 after purchasing an additional 42,190 shares during the last quarter. Norges Bank acquired a new stake in Lowe’s Companies during the second quarter valued at $1,773,624,000. Finally, Charles Schwab Investment Management Inc. grew its stake in Lowe’s Companies by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,536,122 shares of the home improvement retailer’s stock valued at $784,559,000 after purchasing an additional 34,382 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

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 that occurred 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 owned 231,043 shares in the company, valued at $60,341,500.31. This represents a 7.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of recent research reports. Bank of America cut their price target on 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. Truist Financial set a $295.00 price objective on shares of Lowe’s Companies in a research report on Friday, January 16th. Telsey Advisory Group decreased their target price on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Oppenheimer dropped their price target on shares of Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating on the stock in a research note on Friday, December 5th. Finally, Wells Fargo & Company reduced their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.65.

Lowe’s Companies Trading Up 0.5%

Shares of Lowe’s Companies stock opened at $276.46 on Friday. The firm has a fifty day simple moving average of $249.28 and a 200-day simple moving average of $246.05. The stock has a market capitalization of $155.08 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 4.56 and a beta of 0.96. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $281.36.

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

Lowe’s Companies Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be given a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, January 21st. 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.