Principal Financial Group Inc. Acquires 2,510 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Principal Financial Group Inc. lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 645,095 shares of the home improvement retailer’s stock after purchasing an additional 2,510 shares during the period. Principal Financial Group Inc. owned 0.12% of Lowe’s Companies worth $150,456,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Lowe’s Companies during the 4th quarter worth about $1,842,954,000. Kovitz Investment Group Partners LLC lifted its holdings in Lowe’s Companies by 350.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock worth $585,770,000 after purchasing an additional 1,846,315 shares during the last quarter. GAMMA Investing LLC boosted its position in Lowe’s Companies by 26,796.0% during the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock worth $386,540,000 after purchasing an additional 1,651,170 shares during the period. Raymond James Financial Inc. bought a new stake in Lowe’s Companies during the fourth quarter worth approximately $314,435,000. Finally, Northern Trust Corp grew its holdings in Lowe’s Companies by 16.3% during the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock valued at $1,745,960,000 after purchasing an additional 993,833 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $228.00 on Friday. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The stock has a fifty day moving average price of $223.84 and a 200 day moving average price of $235.23. The stock has a market cap of $127.78 billion, a P/E ratio of 18.89, a price-to-earnings-growth ratio of 2.14 and a beta of 0.90.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping analysts’ consensus estimates of $2.88 by $0.04. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion during the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the firm earned $3.06 EPS. The firm’s revenue for the quarter was down 2.0% compared to the same quarter last year. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a $1.20 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.11%. The ex-dividend date is Wednesday, July 23rd. Lowe’s Companies’s dividend payout ratio is currently 38.11%.

Insider Activity

In related news, EVP Juliette Williams Pryor sold 1,130 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president owned 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.27% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a research note on Tuesday, May 6th. Wells Fargo & Company dropped their target price on shares of Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a report on Thursday, May 8th. Piper Sandler decreased their price target on shares of Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating for the company in a report on Monday, March 24th. Morgan Stanley lowered their price target on Lowe’s Companies from $300.00 to $255.00 and set an “overweight” rating on the stock in a research report on Monday, May 5th. Finally, Citigroup reiterated a “neutral” rating and issued a $253.00 price objective (down from $269.00) on shares of Lowe’s Companies in a research note on Wednesday, May 14th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

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.