Rhumbline Advisers Increases Stake in Lowe’s Companies, Inc. $LOW

Rhumbline Advisers boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,113,189 shares of the home improvement retailer’s stock after purchasing an additional 19,757 shares during the quarter. Rhumbline Advisers owned approximately 0.20% of Lowe’s Companies worth $279,756,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of LOW. Howard Hughes Medical Institute purchased a new position in Lowe’s Companies in the second quarter worth about $27,000. Solstein Capital LLC boosted its holdings in shares of Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 113 shares during the last quarter. Activest Wealth Management grew its position in Lowe’s Companies by 78.5% during the third quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 51 shares during the period. Traub Capital Management LLC purchased a new stake in Lowe’s Companies during the second quarter valued at approximately $30,000. Finally, Vermillion & White Wealth Management Group LLC raised its position in Lowe’s Companies by 128.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after acquiring an additional 76 shares during the period. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

LOW has been the topic of a number of research analyst reports. Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a report on Tuesday, January 13th. JPMorgan Chase & Co. raised their price objective on Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Wolfe Research dropped their price objective on Lowe’s Companies from $285.00 to $284.00 and set an “outperform” rating for the company in a report on Wednesday, February 4th. Argus cut their price target on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating on the stock in a research note on Tuesday, December 2nd. Finally, Bank of America dropped their price objective on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Nineteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $284.77.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $284.30 on Wednesday. The business has a 50 day simple moving average of $258.68 and a 200-day simple moving average of $250.69. The stock has a market capitalization of $159.48 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 4.33 and a beta of 0.97. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $285.73.

Lowe’s Companies (NYSE:LOW) last issued its quarterly 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. 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 during the quarter, compared to analysts’ expectations of $20.88 billion. During the same period in the previous year, the business earned $2.89 earnings per share. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st were issued a dividend of $1.20 per share. The ex-dividend date was Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Lowe’s Companies’s dividend payout ratio is currently 39.80%.

Insider Activity

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the transaction, the chief executive officer owned 231,043 shares of the company’s stock, valued at $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

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.