Meiji Yasuda Asset Management Co Ltd. Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Meiji Yasuda Asset Management Co Ltd. lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 11.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,795 shares of the home improvement retailer’s stock after acquiring an additional 5,066 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in Lowe’s Companies were worth $10,757,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Tidemark LLC purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at about $27,000. Voisard Asset Management Group Inc. bought a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $28,000. Keener Financial Planning LLC bought a new position in shares of Lowe’s Companies during the 1st quarter worth approximately $35,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at approximately $31,000. Finally, Stephens Consulting LLC boosted its stake in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Up 0.0 %

Shares of LOW opened at $256.76 on Wednesday. The stock’s 50-day moving average price is $241.71 and its 200-day moving average price is $234.94. The company has a market capitalization of $146.31 billion, a price-to-earnings ratio of 20.62, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $4.56 EPS. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Bank of America reduced their target price on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Evercore ISI raised their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. cut their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Twelve research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average target price of $252.83.

About Lowe’s Companies

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.