Nordea Investment Management AB Sells 12,815 Shares of Lowe’s Companies, Inc. $LOW

Nordea Investment Management AB decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.0% in the third quarter, HoldingsChannel reports. The firm owned 410,728 shares of the home improvement retailer’s stock after selling 12,815 shares during the quarter. Nordea Investment Management AB’s holdings in Lowe’s Companies were worth $102,781,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. SeaBridge Investment Advisors LLC grew its holdings in shares of Lowe’s Companies by 3.7% during the 2nd quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after acquiring an additional 465 shares during the period. QRG Capital Management Inc. boosted its position in shares of Lowe’s Companies by 2.6% during the second quarter. QRG Capital Management Inc. now owns 154,692 shares of the home improvement retailer’s stock valued at $34,322,000 after purchasing an additional 3,947 shares in the last quarter. Strathmore Capital Advisors Inc. purchased a new stake in Lowe’s Companies in the second quarter worth $2,717,000. First Pacific Financial grew its stake in Lowe’s Companies by 147.3% in the second quarter. First Pacific Financial now owns 2,752 shares of the home improvement retailer’s stock worth $611,000 after purchasing an additional 1,639 shares during the period. Finally, Prudential Financial Inc. raised its holdings in Lowe’s Companies by 0.7% in the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock worth $183,344,000 after purchasing an additional 5,820 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of research reports. UBS Group dropped their target price on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Truist Financial set a $269.00 target price on shares of Lowe’s Companies in a research note on Wednesday, December 17th. Gordon Haskett upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a report on Tuesday. Bank of America cut their price target on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Thursday, November 20th. Finally, Telsey Advisory Group reduced their price objective on Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a research report on Thursday, November 20th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.35.

Insiders Place Their Bets

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the company’s 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 transaction, the chief executive officer owned 231,043 shares in the company, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Up 1.3%

Shares of NYSE LOW opened at $274.52 on Wednesday. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $274.98. The firm has a market cap of $153.99 billion, a P/E ratio of 22.76, a PEG ratio of 4.49 and a beta of 0.96. The company has a 50 day moving average of $242.42 and a 200 day moving average of $243.56.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping 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 business had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. During the same quarter last year, the company earned $2.89 EPS. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The firm 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 $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio (DPR) is presently 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.