Skandinaviska Enskilda Banken AB publ Sells 8,279 Shares of Lowe’s Companies, Inc. $LOW

Skandinaviska Enskilda Banken AB publ reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.3% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 148,296 shares of the home improvement retailer’s stock after selling 8,279 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Lowe’s Companies were worth $37,268,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Maj Invest Holding A S grew its holdings in Lowe’s Companies by 15.7% in the 3rd quarter. Maj Invest Holding A S now owns 802,990 shares of the home improvement retailer’s stock valued at $201,801,000 after buying an additional 108,813 shares in the last quarter. Bridges Investment Management Inc. boosted its position in shares of Lowe’s Companies by 13.4% in the third quarter. Bridges Investment Management Inc. now owns 420,832 shares of the home improvement retailer’s stock valued at $105,759,000 after acquiring an additional 49,858 shares during the period. Facet Wealth Inc. acquired a new position in shares of Lowe’s Companies in the third quarter valued at about $558,000. Prudential Financial Inc. increased its position in Lowe’s Companies by 0.7% during the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock worth $183,344,000 after acquiring an additional 5,820 shares during the period. Finally, Jennison Associates LLC raised its stake in Lowe’s Companies by 22.0% in the 2nd quarter. Jennison Associates LLC now owns 497,628 shares of the home improvement retailer’s stock worth $110,409,000 after purchasing an additional 89,839 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Activity

In related news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer directly 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 sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the stock. DA Davidson decreased their target price on shares of Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Royal Bank Of Canada reduced their price target on Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating on the stock in a research report on Thursday, November 20th. Citigroup raised their price objective on Lowe’s Companies from $250.00 to $285.00 and gave the stock a “neutral” rating in a research note on Thursday, February 12th. Barclays upgraded Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 target price for the company in a research report on Wednesday, January 7th. Finally, Sanford C. Bernstein increased their target price on Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Twenty equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $287.22.

Lowe’s Companies Stock Down 2.3%

Shares of Lowe’s Companies stock opened at $280.80 on Wednesday. The stock has a market cap of $157.51 billion, a price-to-earnings ratio of 23.28, a P/E/G ratio of 4.48 and a beta of 0.97. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $293.06. The company’s fifty day moving average is $262.65 and its 200 day moving average is $252.73.

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. 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 the consensus estimate of $20.88 billion. During the same period in the previous year, the business earned $2.89 EPS. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

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.