Man Group plc Has $12.58 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Man Group plc reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 62.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 114,363 shares of the home improvement retailer’s stock after selling 194,154 shares during the quarter. Man Group plc’s holdings in Lowe’s Companies were worth $12,575,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. increased its stake in Lowe’s Companies by 0.4% in the second quarter. Vanguard Group Inc. now owns 66,234,867 shares of the home improvement retailer’s stock valued at $6,683,762,000 after acquiring an additional 240,910 shares during the period. Nuveen Asset Management LLC boosted its holdings in Lowe’s Companies by 6,680.1% during the second quarter. Nuveen Asset Management LLC now owns 6,312,448 shares of the home improvement retailer’s stock valued at $636,989,000 after purchasing an additional 6,219,346 shares in the last quarter. Morgan Stanley boosted its holdings in Lowe’s Companies by 1.0% during the second quarter. Morgan Stanley now owns 4,970,572 shares of the home improvement retailer’s stock valued at $501,580,000 after purchasing an additional 50,649 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Lowe’s Companies by 2.5% during the third quarter. Parametric Portfolio Associates LLC now owns 3,375,534 shares of the home improvement retailer’s stock valued at $371,174,000 after purchasing an additional 82,781 shares in the last quarter. Finally, Charles Schwab Investment Advisory Inc. grew its stake in shares of Lowe’s Companies by 0.9% in the 2nd quarter. Charles Schwab Investment Advisory Inc. now owns 2,774,755 shares of the home improvement retailer’s stock valued at $280,001,000 after purchasing an additional 24,952 shares during the period. Hedge funds and other institutional investors own 74.48% of the company’s stock.

Shares of LOW stock opened at $114.55 on Wednesday. The stock’s fifty day moving average is $114.02 and its 200-day moving average is $106.41. The company has a debt-to-equity ratio of 8.37, a quick ratio of 0.13 and a current ratio of 1.04. The stock has a market capitalization of $90.54 billion, a PE ratio of 22.29, a PEG ratio of 1.53 and a beta of 1.27. Lowe’s Companies, Inc. has a 52 week low of $85.90 and a 52 week high of $121.22.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, November 20th. The home improvement retailer reported $1.41 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.35 by $0.06. The business had revenue of $17.39 billion during the quarter, compared to analysts’ expectations of $17.69 billion. Lowe’s Companies had a return on equity of 146.62% and a net margin of 4.11%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.04 earnings per share. As a group, analysts forecast that Lowe’s Companies, Inc. will post 5.7 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date is Tuesday, January 21st. Lowe’s Companies’s dividend payout ratio is presently 42.80%.

In other news, EVP Jennifer L. Weber sold 12,589 shares of Lowe’s Companies stock in a transaction on Monday, September 16th. The stock was sold at an average price of $112.62, for a total value of $1,417,773.18. Following the completion of the sale, the executive vice president now directly owns 17,440 shares of the company’s stock, valued at approximately $1,964,092.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew V. Hollifield sold 12,136 shares of Lowe’s Companies stock in a transaction on Tuesday, September 17th. The shares were sold at an average price of $112.34, for a total value of $1,363,358.24. Following the completion of the sale, the chief accounting officer now directly owns 28,017 shares of the company’s stock, valued at $3,147,429.78. The disclosure for this sale can be found here. Insiders own 0.07% of the company’s stock.

LOW has been the subject of a number of recent research reports. Citigroup increased their target price on Lowe’s Companies from $122.00 to $137.00 and gave the stock a “buy” rating in a report on Friday, September 13th. Loop Capital boosted their price target on Lowe’s Companies to $105.00 and gave the company a “hold” rating in a research note on Thursday, August 22nd. Credit Suisse Group upgraded Lowe’s Companies from a “neutral” rating to an “outperform” rating and upped their price target for the company from $114.00 to $129.00 in a research report on Wednesday, November 6th. Telsey Advisory Group increased their price objective on Lowe’s Companies from $120.00 to $133.00 and gave the stock an “outperform” rating in a research note on Thursday, November 21st. Finally, Goldman Sachs Group lifted their price objective on Lowe’s Companies from $123.00 to $135.00 in a report on Wednesday, November 27th. Six equities research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $128.92.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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