Rakuten Investment Management Inc. Acquires Shares of 2,348 Lowe’s Companies, Inc. $LOW

Rakuten Investment Management Inc. bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 2,348 shares of the home improvement retailer’s stock, valued at approximately $590,000.

Several other institutional investors also recently modified their holdings of LOW. Vanguard Group Inc. lifted its holdings in Lowe’s Companies by 0.7% during the second quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock worth $12,197,604,000 after acquiring an additional 366,977 shares during the period. State Street Corp raised its stake in shares of Lowe’s Companies by 0.8% during the 2nd quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock worth $5,527,176,000 after purchasing an additional 207,826 shares during the period. Geode Capital Management LLC raised its stake in shares of Lowe’s Companies by 0.3% during 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 purchasing an additional 42,190 shares during the period. Norges Bank purchased a new position in shares of Lowe’s Companies in the 2nd quarter worth about $1,773,624,000. Finally, Charles Schwab Investment Management Inc. grew its position in Lowe’s Companies by 1.0% during 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 buying an additional 34,382 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Trading Up 0.5%

LOW opened at $276.46 on Friday. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $281.36. The company has a market cap of $155.08 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 4.59 and a beta of 0.96. The company has a 50 day moving average of $249.28 and a 200 day moving average of $246.21.

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

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. 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 1.7%. Lowe’s Companies’s dividend payout ratio is 39.80%.

Insider Buying and Selling

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the transaction, the chief executive officer owned 231,043 shares in the company, valued at $60,341,500.31. This trade 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 hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

LOW has been the topic of several research reports. Barclays raised shares of Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price objective on the stock in a research report on Wednesday, January 7th. Truist Financial set a $295.00 price target on shares of Lowe’s Companies in a report on Friday, January 16th. Evercore ISI reiterated a “positive” rating on shares of Lowe’s Companies in a research note on Thursday, November 20th. Argus reduced their price objective on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, December 2nd. Finally, Wells Fargo & Company lowered their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Tuesday, November 11th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $283.65.

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.