Nordea Investment Management AB Sells 12,815 Shares of Lowe’s Companies, Inc. $LOW

Nordea Investment Management AB lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 410,728 shares of the home improvement retailer’s stock after selling 12,815 shares during the period. Nordea Investment Management AB owned approximately 0.07% of Lowe’s Companies worth $102,781,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Lowe’s Companies by 0.7% in the second quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock worth $12,197,604,000 after purchasing an additional 366,977 shares during the period. State Street Corp boosted its stake in Lowe’s Companies by 0.8% during 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 buying an additional 207,826 shares during the period. Geode Capital Management LLC grew its position in Lowe’s Companies by 0.3% during the second quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock worth $2,732,049,000 after buying an additional 42,190 shares in the last quarter. Norges Bank bought a new position in Lowe’s Companies in the 2nd quarter worth about $1,773,624,000. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Lowe’s Companies by 1.0% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 3,536,122 shares of the home improvement retailer’s stock valued at $784,559,000 after acquiring an additional 34,382 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the sale, the chief executive officer owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.27% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on LOW. Argus cut their price objective on Lowe’s Companies from $290.00 to $286.00 and set a “buy” rating for the company in a report on Tuesday, December 2nd. HSBC cut their price target on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating for the company in a research note on Friday, November 21st. Stifel Nicolaus raised their price objective on shares of Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a research report on Monday, December 1st. Sanford C. Bernstein upped their target price 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. Finally, Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price on the stock in a research note on Tuesday. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $279.35.

Lowe’s Companies Stock Up 1.3%

Shares of NYSE:LOW opened at $274.52 on Wednesday. The stock has a market cap of $153.99 billion, a PE ratio of 22.76, a PEG ratio of 4.49 and a beta of 0.96. The company’s fifty day moving average is $242.42 and its 200 day moving average is $243.56. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $274.98.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data 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 firm had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $2.89 earnings per share. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s payout ratio is 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.