Lowe’s Companies, Inc. (NYSE:LOW) Shares Purchased by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 7.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 59,954 shares of the home improvement retailer’s stock after buying an additional 4,343 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Lowe’s Companies were worth $13,218,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its position in Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares during the period. Strategic Financial Concepts LLC increased its position in Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after purchasing an additional 1,199,100 shares in the last quarter. M&G Plc purchased a new position in Lowe’s Companies in the first quarter valued at approximately $217,995,000. Pathstone Holdings LLC acquired a new position in Lowe’s Companies during the fourth quarter valued at approximately $126,615,000. Finally, Price T Rowe Associates Inc. MD grew its stake in Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after buying an additional 493,180 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Stock Up 0.7 %

Shares of NYSE LOW opened at $272.65 on Wednesday. The firm’s 50-day moving average price is $247.52 and its two-hundred day moving average price is $236.48. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $274.16. The stock has a market capitalization of $155.37 billion, a P/E ratio of 21.90, a P/E/G ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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 business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the firm posted $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.69%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent research reports. Telsey Advisory Group restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, August 20th. Melius Research assumed coverage on Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price for the company. Wells Fargo & Company dropped their target price 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. Gordon Haskett dropped their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Finally, UBS Group boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $260.00.

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.