Resona Asset Management Co. Ltd. Decreases Stock Position in Lowe’s Companies, Inc. $LOW

Resona Asset Management Co. Ltd. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 6.5% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 188,503 shares of the home improvement retailer’s stock after selling 13,150 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Lowe’s Companies were worth $47,451,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Howard Hughes Medical Institute purchased a new position in shares of Lowe’s Companies in the second quarter worth $27,000. Solstein Capital LLC increased its holdings in Lowe’s Companies by 627.8% in the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after buying an additional 113 shares in the last quarter. Traub Capital Management LLC bought a new stake in Lowe’s Companies in the 2nd quarter worth about $30,000. Vermillion & White Wealth Management Group LLC raised its position in Lowe’s Companies by 128.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 76 shares during the last quarter. Finally, Olistico Wealth LLC purchased a new position in Lowe’s Companies in the 2nd quarter worth about $33,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on LOW. Wolfe Research dropped their price target on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, November 24th. 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. Jefferies Financial Group lifted their target price on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a research report on Friday, December 19th. Telsey Advisory Group decreased their target price on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Finally, Mizuho lowered their price target on Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $283.65.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $276.46 on Friday. Lowe’s Companies, Inc. has a 1 year low of $206.38 and a 1 year high of $281.36. The firm has a fifty day moving average price of $249.28 and a 200-day moving average price of $246.05. The company has a market cap of $155.08 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 4.56 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating 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 company 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 earnings per share. Lowe’s Companies’s quarterly revenue was up 3.2% compared to the same quarter last year. Equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The company also recently announced 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 of this dividend is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is currently 39.80%.

Insider Buying and Selling

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction that occurred on 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 of the company’s stock, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

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.