MBB Public Markets I LLC Acquires 39,198 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

MBB Public Markets I LLC lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2,861.2% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 40,568 shares of the home improvement retailer’s stock after purchasing an additional 39,198 shares during the period. MBB Public Markets I LLC’s holdings in Lowe’s Companies were worth $8,944,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after acquiring an additional 2,674,372 shares during the period. Schroder Investment Management Group raised its holdings in Lowe’s Companies by 1.9% during the 4th quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after acquiring an additional 52,859 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after acquiring an additional 493,180 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in shares of Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after acquiring an additional 90,945 shares during the period. Finally, The Manufacturers Life Insurance Company grew its position in shares of Lowe’s Companies by 14.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,516,347 shares of the home improvement retailer’s stock valued at $337,463,000 after purchasing an additional 194,070 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $265.68 on Friday. The company has a 50-day simple moving average of $245.12 and a two-hundred day simple moving average of $235.84. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $268.09. The stock has a market capitalization of $151.39 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the business posted $4.56 EPS. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.73%. Lowe’s Companies’s payout ratio is 36.95%.

Insider Buying and Selling at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the stock. Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday. They issued a “buy” rating and a $290.00 price target on the stock. Gordon Haskett lowered their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Bank of America reduced their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. UBS Group increased their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. reduced their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.13.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It also provides home improvement products, such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchens and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials, décor, and electrical.