Resona Asset Management Co. Ltd. Cuts Stock Holdings in Lowe’s Companies, Inc. $LOW

Resona Asset Management Co. Ltd. reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 6.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,503 shares of the home improvement retailer’s stock after selling 13,150 shares during the quarter. Resona Asset Management Co. Ltd.’s holdings in Lowe’s Companies were worth $47,451,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. SeaBridge Investment Advisors LLC raised its stake in shares of Lowe’s Companies by 3.7% during the second quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after acquiring an additional 465 shares in the last quarter. QRG Capital Management Inc. increased its position in shares of Lowe’s Companies by 2.6% in the second quarter. QRG Capital Management Inc. now owns 154,692 shares of the home improvement retailer’s stock valued at $34,322,000 after acquiring an additional 3,947 shares during the period. First Pacific Financial raised its position in Lowe’s Companies by 147.3% during the 2nd quarter. First Pacific Financial now owns 2,752 shares of the home improvement retailer’s stock valued at $611,000 after purchasing an additional 1,639 shares during the last quarter. Prudential Financial Inc. increased its stake in shares of Lowe’s Companies by 0.7% during the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock valued at $183,344,000 after buying an additional 5,820 shares during the period. Finally, Facet Wealth Inc. purchased a new stake in Lowe’s Companies in the third quarter worth $558,000. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Performance

Shares of LOW opened at $276.46 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $281.36. The firm’s 50-day simple moving average is $249.28 and its two-hundred day simple moving average is $246.05. The stock has a market cap of $155.08 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 4.56 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping 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 business’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.89 EPS. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders 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 dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is currently 39.80%.

Analysts Set New Price Targets

LOW has been the topic of a number of research analyst reports. Telsey Advisory Group reduced their price objective on shares of Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating on the stock in a research report on Thursday, November 20th. Evercore ISI reaffirmed a “positive” rating on shares of Lowe’s Companies in a research report on Thursday, November 20th. Truist Financial set a $295.00 price target on shares of Lowe’s Companies in a research report on Friday, January 16th. Mizuho decreased their price target on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Finally, Robert W. Baird lowered their price objective on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $283.65.

Insider Buying and Selling at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer directly owned 231,043 shares in the company, valued at $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.27% of the stock is owned by insiders.

About Lowe’s Companies

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.