Retirement Planning Group LLC Acquires 3,080 Shares of Lowe’s Companies, Inc. $LOW

Retirement Planning Group LLC increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 271.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 4,213 shares of the home improvement retailer’s stock after acquiring an additional 3,080 shares during the quarter. Retirement Planning Group LLC’s holdings in Lowe’s Companies were worth $1,059,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of Lowe’s Companies by 0.7% during the second quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock valued at $12,197,604,000 after acquiring an additional 366,977 shares during the last quarter. State Street Corp increased its holdings in Lowe’s Companies by 0.8% in the second quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock valued at $5,527,176,000 after purchasing an additional 207,826 shares during the period. Geode Capital Management LLC raised its position in Lowe’s Companies by 0.3% during the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock worth $2,732,049,000 after purchasing an additional 42,190 shares during the last quarter. Norges Bank bought a new position in Lowe’s Companies during the 2nd quarter worth $1,773,624,000. Finally, Charles Schwab Investment Management Inc. lifted its holdings in Lowe’s Companies by 1.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,536,122 shares of the home improvement retailer’s stock worth $784,559,000 after buying an additional 34,382 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $275.03 on Thursday. The stock has a market capitalization of $154.28 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 4.55 and a beta of 0.96. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $278.10. The stock’s 50 day moving average price is $243.23 and its two-hundred day moving average price is $243.78.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.89 EPS. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. Lowe’s Companies’s dividend payout ratio is currently 39.80%.

Insider Activity

In other news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer directly owned 231,043 shares in the company, valued at $60,341,500.31. This trade represents a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.27% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the company. Truist Financial set a $269.00 price objective on Lowe’s Companies in a research report on Wednesday, December 17th. Wells Fargo & Company decreased their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Tuesday, November 11th. DA Davidson lowered their price target on shares of Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. Mizuho reduced their price objective on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Finally, Sanford C. Bernstein increased their price objective on shares of Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $279.35.

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.