Meiji Yasuda Asset Management Co Ltd. Grows Position in Lowe’s Companies, Inc. (NYSE:LOW)

Meiji Yasuda Asset Management Co Ltd. lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 11.6% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 48,795 shares of the home improvement retailer’s stock after purchasing an additional 5,066 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Lowe’s Companies were worth $10,757,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brevan Howard Capital Management LP lifted its stake in Lowe’s Companies by 824.6% in the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after purchasing an additional 13,680 shares in the last quarter. Bamco Inc. NY boosted its stake in Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares during the last quarter. Plato Investment Management Ltd grew its holdings in Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after buying an additional 5,470 shares in the last quarter. 17 Capital Partners LLC acquired a new stake in shares of Lowe’s Companies in the 1st quarter worth $1,368,000. Finally, Gerber LLC purchased a new position in shares of Lowe’s Companies during the 4th quarter worth $235,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on LOW shares. JPMorgan Chase & Co. dropped their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, August 20th. Wells Fargo & Company decreased their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Piper Sandler reduced their target price on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Finally, DA Davidson decreased their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $252.83.

Lowe’s Companies Stock Up 0.0 %

Shares of LOW stock opened at $256.76 on Wednesday. The firm has a 50 day moving average of $241.71 and a two-hundred day moving average of $234.94. The stock has a market capitalization of $146.31 billion, a PE 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 released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analyst estimates of $23.93 billion. During the same period last year, the business posted $4.56 earnings per share. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. Analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

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

Insider Activity at Lowe’s Companies

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

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.