Bessemer Group Inc. Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Bessemer Group Inc. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 52.2% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 1,478,516 shares of the home improvement retailer’s stock after acquiring an additional 507,192 shares during the period. Bessemer Group Inc. owned about 0.25% of Lowe’s Companies worth $333,700,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Modera Wealth Management LLC raised its holdings in shares of Lowe’s Companies by 1,987.7% during the second quarter. Modera Wealth Management LLC now owns 318,848 shares of the home improvement retailer’s stock valued at $71,964,000 after acquiring an additional 303,575 shares during the last quarter. Nwam LLC grew its holdings in shares of Lowe’s Companies by 115.6% during the second quarter. Nwam LLC now owns 6,475 shares of the home improvement retailer’s stock worth $1,462,000 after buying an additional 3,472 shares in the last quarter. Ellenbecker Investment Group raised its position in shares of Lowe’s Companies by 5.1% in the second quarter. Ellenbecker Investment Group now owns 1,790 shares of the home improvement retailer’s stock valued at $404,000 after buying an additional 87 shares during the last quarter. GHE LLC lifted its stake in shares of Lowe’s Companies by 0.5% in the second quarter. GHE LLC now owns 24,122 shares of the home improvement retailer’s stock worth $5,444,000 after buying an additional 115 shares in the last quarter. Finally, Achmea Investment Management B.V. boosted its position in Lowe’s Companies by 24.2% during the second quarter. Achmea Investment Management B.V. now owns 106,106 shares of the home improvement retailer’s stock worth $23,949,000 after acquiring an additional 20,664 shares during the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the company. Morgan Stanley boosted their target price on Lowe’s Companies from $235.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 23rd. Guggenheim raised their target price on Lowe’s Companies from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. UBS Group boosted their price target on shares of Lowe’s Companies from $250.00 to $265.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. Piper Sandler raised their price objective on shares of Lowe’s Companies from $230.00 to $262.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 23rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 23rd. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $242.32.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Joseph Michael Mcfarland sold 4,500 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $222.53, for a total value of $1,001,385.00. Following the transaction, the executive vice president now owns 46,594 shares in the company, valued at approximately $10,368,562.82. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Lowe’s Companies news, EVP Janice Dupre sold 5,380 shares of the firm’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the transaction, the executive vice president now owns 24,216 shares of the company’s stock, valued at $5,600,676.48. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $222.53, for a total value of $1,001,385.00. Following the transaction, the executive vice president now owns 46,594 shares in the company, valued at approximately $10,368,562.82. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Lowe’s Companies Stock Performance

Shares of LOW traded up $0.44 during midday trading on Monday, hitting $204.14. The company had a trading volume of 774,472 shares, compared to its average volume of 2,784,844. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $237.21. The firm has a market capitalization of $117.81 billion, a P/E ratio of 20.05, a P/E/G ratio of 1.36 and a beta of 1.07. The company’s 50-day simple moving average is $201.92 and its 200-day simple moving average is $213.29.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.49 by $0.07. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. The company had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.97 billion. During the same quarter in the previous year, the firm earned $4.67 earnings per share. The firm’s quarterly revenue was down 9.2% on a year-over-year basis. Equities analysts predict that Lowe’s Companies, Inc. will post 13.31 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, February 7th. Investors of record on Wednesday, January 24th will be issued a $1.10 dividend. This represents a $4.40 annualized dividend and a yield of 2.16%. The ex-dividend date of this dividend is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.31%.

About Lowe’s Companies

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.