PGGM Investments acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 676,356 shares of the home improvement retailer’s stock, valued at approximately $52,438,000. PGGM Investments owned about 0.08% of Lowe’s Companies at the end of the most recent quarter.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in shares of Lowe’s Companies by 4.3% in the first quarter. Vanguard Group Inc. now owns 63,871,103 shares of the home improvement retailer’s stock valued at $5,250,843,000 after buying an additional 2,650,045 shares in the last quarter. BlackRock Inc. increased its position in shares of Lowe’s Companies by 1,757.3% in the first quarter. BlackRock Inc. now owns 61,377,883 shares of the home improvement retailer’s stock valued at $5,045,875,000 after buying an additional 58,073,138 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Lowe’s Companies by 8.2% in the first quarter. Geode Capital Management LLC now owns 8,848,938 shares of the home improvement retailer’s stock valued at $726,481,000 after buying an additional 671,581 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC increased its position in shares of Lowe’s Companies by 11.5% in the first quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 8,249,599 shares of the home improvement retailer’s stock valued at $678,200,000 after buying an additional 852,426 shares in the last quarter. Finally, OppenheimerFunds Inc. increased its position in shares of Lowe’s Companies by 204.0% in the first quarter. OppenheimerFunds Inc. now owns 8,018,171 shares of the home improvement retailer’s stock valued at $659,174,000 after buying an additional 5,380,759 shares in the last quarter. Institutional investors and hedge funds own 74.65% of the company’s stock.
Lowe’s Companies, Inc. (NYSE:LOW) traded down 0.65% on Friday, hitting $73.64. The company’s stock had a trading volume of 5,153,649 shares. Lowe’s Companies, Inc. has a 1-year low of $64.87 and a 1-year high of $86.25. The company has a 50 day moving average price of $76.47 and a 200-day moving average price of $79.47. The company has a market capitalization of $62.17 billion, a P/E ratio of 23.09 and a beta of 1.08.
Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, May 24th. The home improvement retailer reported $1.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $1.06 by $0.03. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The business had revenue of $16.86 billion during the quarter, compared to analyst estimates of $16.99 billion. During the same quarter in the prior year, the company earned $0.87 earnings per share. The company’s quarterly revenue was up 10.7% on a year-over-year basis. On average, equities analysts forecast that Lowe’s Companies, Inc. will post $4.62 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.23%. Lowe’s Companies’s dividend payout ratio is currently 51.57%.
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Several equities analysts have recently issued reports on LOW shares. BMO Capital Markets reiterated a “buy” rating and set a $89.00 price objective on shares of Lowe’s Companies in a research report on Thursday, July 20th. Jefferies Group LLC boosted their price objective on Lowe’s Companies from $80.00 to $94.00 and gave the stock a “hold” rating in a research report on Friday, May 12th. Longbow Research reiterated a “buy” rating and set a $95.00 price objective on shares of Lowe’s Companies in a research report on Monday, August 14th. Stifel Nicolaus reduced their price objective on Lowe’s Companies from $89.00 to $87.00 and set a “buy” rating for the company in a research report on Thursday, May 25th. Finally, Zacks Investment Research downgraded Lowe’s Companies from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating and fifteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $85.69.
In related news, insider Richard D. Maltsbarger sold 11,672 shares of the stock in a transaction that occurred on Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the transaction, the insider now directly owns 37,716 shares in the company, valued at $3,024,823.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.11% of the company’s stock.
Lowe’s Companies Company Profile
Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.
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