Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 19.5% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 61,683 shares of the home improvement retailer’s stock after acquiring an additional 10,060 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Lowe’s Companies were worth $16,478,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. BKM Wealth Management LLC increased its holdings in shares of Lowe’s Companies by 36.1% in the 3rd quarter. BKM Wealth Management LLC now owns 14,264 shares of the home improvement retailer’s stock valued at $3,863,000 after acquiring an additional 3,783 shares during the last quarter. Convergence Financial LLC increased its holdings in shares of Lowe’s Companies by 16.5% in the 3rd quarter. Convergence Financial LLC now owns 7,351 shares of the home improvement retailer’s stock valued at $1,991,000 after acquiring an additional 1,040 shares during the last quarter. Elwood & Goetz Wealth Advisory Group LLC increased its holdings in shares of Lowe’s Companies by 57.4% in the 3rd quarter. Elwood & Goetz Wealth Advisory Group LLC now owns 2,644 shares of the home improvement retailer’s stock valued at $716,000 after acquiring an additional 964 shares during the last quarter. Tarbox Family Office Inc. increased its holdings in shares of Lowe’s Companies by 35.3% in the 3rd quarter. Tarbox Family Office Inc. now owns 3,067 shares of the home improvement retailer’s stock valued at $831,000 after acquiring an additional 800 shares during the last quarter. Finally, Lake Street Advisors Group LLC increased its holdings in shares of Lowe’s Companies by 7.3% in the 3rd quarter. Lake Street Advisors Group LLC now owns 9,626 shares of the home improvement retailer’s stock valued at $2,607,000 after acquiring an additional 657 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on LOW shares. Wells Fargo & Company dropped 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. TD Cowen raised their price target on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. UBS Group raised their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Bank of America raised their price target on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Finally, Melius Research started coverage on Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average target price of $270.60.

Insider Activity

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

LOW opened at $267.64 on Friday. The business has a 50 day simple moving average of $260.81 and a 200-day simple moving average of $239.84. The stock has a market capitalization of $151.83 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly 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 during the quarter, compared to analysts’ expectations 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 quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $4.56 EPS. Research analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

Lowe’s Companies 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.