OFI Invest Asset Management Acquires 2,766 Shares of Lowe’s Companies, Inc. $LOW

OFI Invest Asset Management lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 432.9% in 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 reporting period.

Other large investors have also added to or reduced their stakes in the company. Howard Hughes Medical Institute purchased a new stake in shares of Lowe’s Companies during the second quarter worth about $27,000. Solstein Capital LLC increased its holdings in Lowe’s Companies by 627.8% during the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 113 shares during the period. Traub Capital Management LLC purchased a new stake in Lowe’s Companies during the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC boosted its position in shares of Lowe’s Companies by 128.8% in the 2nd quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after purchasing an additional 76 shares in the last quarter. Finally, Olistico Wealth LLC purchased a new position in shares of Lowe’s Companies in the second quarter worth $33,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on LOW. DA Davidson decreased their price objective on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a report on Thursday, November 20th. UBS Group cut their price objective on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Wolfe Research dropped their target price on Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating on the stock in a research report on Monday, November 24th. Truist Financial set a $269.00 price target on shares of Lowe’s Companies in a research note on Wednesday, December 17th. Finally, Royal Bank Of Canada dropped their price objective on shares of Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating for the company in a research note on Thursday, November 20th. Seventeen research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $276.80.

Lowe’s Companies Price Performance

NYSE LOW opened at $241.97 on Wednesday. The stock has a 50-day moving average of $239.87 and a two-hundred day moving average of $240.20. The company has a market cap of $135.73 billion, a P/E ratio of 20.06, a P/E/G ratio of 4.01 and a beta of 0.96. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $274.98.

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

Lowe’s Companies Dividend Announcement

The business 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 dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 2.0%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio (DPR) is currently 39.80%.

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.