OFI Invest Asset Management Has $856,000 Stock Holdings in Lowe’s Companies, Inc. $LOW

OFI Invest Asset Management increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 432.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,405 shares of the home improvement retailer’s stock after purchasing an additional 2,766 shares during the period. OFI Invest Asset Management’s holdings in Lowe’s Companies were worth $856,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new stake in Lowe’s Companies during the 2nd quarter worth about $1,773,624,000. Tableaux LLC acquired a new stake in Lowe’s Companies during the second quarter worth approximately $282,884,000. Laurel Wealth Advisors LLC boosted its position in shares of Lowe’s Companies by 22,167.5% in the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock valued at $229,041,000 after acquiring an additional 1,027,683 shares during the period. Worldquant Millennium Advisors LLC raised its position in shares of Lowe’s Companies by 243.2% in the second quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock valued at $247,817,000 after buying an additional 791,526 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its position in Lowe’s Companies by 26.3% during the second quarter. Arrowstreet Capital Limited Partnership now owns 2,358,118 shares of the home improvement retailer’s stock worth $523,196,000 after purchasing an additional 491,005 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Down 0.0%

LOW opened at $241.97 on Wednesday. The firm has a 50-day moving average price of $239.87 and a 200-day moving average price of $240.20. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $274.98. The company has a market capitalization of $135.73 billion, a price-to-earnings ratio of 20.06, a PEG ratio of 4.01 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. During the same period last year, the business earned $2.89 earnings per share. Lowe’s Companies’s revenue was up 3.2% compared to the same quarter last year. On average, sell-side 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be paid a $1.20 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Lowe’s Companies’s payout ratio is presently 39.80%.

Analyst Ratings Changes

Several analysts recently issued reports on LOW shares. Robert W. Baird reduced their price target on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Mizuho lowered their target price on Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Truist Financial set a $269.00 price target on shares of Lowe’s Companies in a research note on Wednesday, December 17th. Stifel Nicolaus raised their price objective on shares of Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a report on Monday, December 1st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Lowe’s Companies in a research report on Monday. Seventeen investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $276.80.

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.