Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,931 shares of the home improvement retailer’s stock after purchasing an additional 1,346 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Lowe’s Companies were worth $2,866,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in LOW. Assenagon Asset Management S.A. increased its holdings in shares of Lowe’s Companies by 281.1% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,547,147 shares of the home improvement retailer’s stock valued at $185,286,000 after acquiring an additional 1,141,155 shares during the period. Prudential PLC increased its holdings in shares of Lowe’s Companies by 456.1% in the 2nd quarter. Prudential PLC now owns 1,222,183 shares of the home improvement retailer’s stock valued at $123,440,000 after acquiring an additional 1,002,390 shares during the period. Eaton Vance Management increased its holdings in shares of Lowe’s Companies by 49.9% in the 2nd quarter. Eaton Vance Management now owns 2,366,912 shares of the home improvement retailer’s stock valued at $238,844,000 after acquiring an additional 788,392 shares during the period. Worldquant Millennium Advisors LLC acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at $77,131,000. Finally, Voloridge Investment Management LLC acquired a new position in shares of Lowe’s Companies in the 3rd quarter valued at $36,066,000. 74.66% of the stock is currently owned by institutional investors.

A number of brokerages have recently commented on LOW. Barclays reaffirmed a “buy” rating and issued a $130.00 target price on shares of Lowe’s Companies in a report on Friday, November 22nd. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Lowe’s Companies in a report on Wednesday, November 20th. Wolfe Research cut shares of Lowe’s Companies from an “outperform” rating to a “market perform” rating and set a $118.00 target price on the stock. in a report on Tuesday, October 8th. Jefferies Financial Group lifted their target price on shares of Lowe’s Companies from $141.00 to $143.00 and gave the company a “buy” rating in a report on Tuesday, January 7th. Finally, Oppenheimer lifted their target price on shares of Lowe’s Companies from $135.00 to $145.00 and gave the company an “outperform” rating in a report on Friday, October 4th. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $129.88.

NYSE:LOW traded down $2.65 during midday trading on Friday, reaching $120.06. The stock had a trading volume of 1,946,454 shares, compared to its average volume of 3,060,952. The firm has a fifty day simple moving average of $119.75 and a two-hundred day simple moving average of $111.59. Lowe’s Companies, Inc. has a 12-month low of $91.11 and a 12-month high of $123.14. The company has a quick ratio of 0.13, a current ratio of 1.04 and a debt-to-equity ratio of 8.37. The stock has a market cap of $94.05 billion, a P/E ratio of 31.76, a P/E/G ratio of 1.52 and a beta of 1.28.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 20th. The home improvement retailer reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.06. Lowe’s Companies had a net margin of 4.11% and a return on equity of 146.62%. The firm had revenue of $17.39 billion for the quarter, compared to analyst estimates of $17.69 billion. During the same period last year, the firm posted $1.04 EPS. Lowe’s Companies’s quarterly revenue was down .2% on a year-over-year basis. On average, sell-side analysts anticipate 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 given a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, January 21st. This represents a $2.20 annualized dividend and a dividend yield of 1.83%. Lowe’s Companies’s payout ratio is currently 42.80%.

Lowe’s Companies Company Profile

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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