Greatmark Investment Partners Inc. Raises Holdings in Lowe’s Companies, Inc. $LOW

Greatmark Investment Partners Inc. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the third quarter, Holdings Channel reports. The institutional investor owned 90,790 shares of the home improvement retailer’s stock after acquiring an additional 1,938 shares during the period. Lowe’s Companies accounts for 2.7% of Greatmark Investment Partners Inc.’s holdings, making the stock its 11th biggest position. Greatmark Investment Partners Inc.’s holdings in Lowe’s Companies were worth $22,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank bought a new stake in Lowe’s Companies during the second quarter valued at about $1,773,624,000. Tableaux LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter valued at about $282,884,000. Laurel Wealth Advisors LLC boosted its holdings in shares of Lowe’s Companies by 22,167.5% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock valued at $229,041,000 after buying an additional 1,027,683 shares in the last quarter. Worldquant Millennium Advisors LLC grew its position 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 worth $247,817,000 after buying an additional 791,526 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Lowe’s Companies by 101.4% during 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 acquiring an additional 626,829 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on LOW shares. Sanford C. Bernstein raised their target price on shares of Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Jefferies Financial Group increased their price objective on Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a report on Friday, December 19th. Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 price objective for the company in a research report on Tuesday, January 13th. Oppenheimer decreased their price objective on shares of Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Finally, Argus lowered their target price on shares of Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a research note on Tuesday, December 2nd. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $283.65.

Insider Buying and Selling at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by insiders.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $276.46 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $281.36. The firm has a market capitalization of $155.08 billion, a PE ratio of 22.92, a P/E/G ratio of 4.59 and a beta of 0.96. The stock’s 50-day simple moving average is $249.28 and its 200-day simple moving average is $246.21.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The firm had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. During the same quarter in the prior year, the firm earned $2.89 earnings per share. Lowe’s Companies’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts forecast 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. Stockholders of record on Wednesday, January 21st will be issued a $1.20 dividend. 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 dividend payout ratio is 39.80%.

Lowe’s Companies 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.