Elo Mutual Pension Insurance Co Has $11.03 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Elo Mutual Pension Insurance Co decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,014 shares of the home improvement retailer’s stock after selling 1,714 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Lowe’s Companies were worth $11,026,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. lifted its position in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares during the period. Schroder Investment Management Group increased its stake in Lowe’s Companies by 1.9% in the fourth 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 stake in 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 purchasing an additional 493,180 shares during the period. Envestnet Asset Management Inc. grew its stake in shares of Lowe’s Companies by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after purchasing an additional 90,945 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Lowe’s Companies by 14.7% in the 4th 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. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Performance

LOW stock opened at $256.76 on Wednesday. The firm’s fifty day moving average is $241.71 and its 200 day moving average is $234.94. The firm has a market cap of $146.31 billion, a P/E ratio of 20.62, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49.

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

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 36.95%.

Analysts Set New Price Targets

LOW has been the subject of several research analyst reports. Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. DA Davidson dropped their price objective on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Piper Sandler cut their price objective on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Finally, Telsey Advisory Group restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Company Profile

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.