Renaissance Group LLC Purchases 6,529 Shares of Lowe’s Companies, Inc. $LOW

Renaissance Group LLC grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 4.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 139,911 shares of the home improvement retailer’s stock after acquiring an additional 6,529 shares during the quarter. Renaissance Group LLC’s holdings in Lowe’s Companies were worth $31,042,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of LOW. Solstein Capital LLC lifted its position in Lowe’s Companies by 627.8% in the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 113 shares during the period. Traub Capital Management LLC bought a new stake in Lowe’s Companies in the 2nd quarter valued at $30,000. Olistico Wealth LLC acquired a new position in shares of Lowe’s Companies in the 2nd quarter valued at $33,000. Barnes Dennig Private Wealth Management LLC lifted its holdings in shares of Lowe’s Companies by 101.0% during the 2nd quarter. Barnes Dennig Private Wealth Management LLC now owns 193 shares of the home improvement retailer’s stock worth $43,000 after acquiring an additional 97 shares during the period. Finally, Vista Cima Wealth Management LLC acquired a new stake in shares of Lowe’s Companies during the 1st quarter valued at about $44,000. 74.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on LOW shares. JPMorgan Chase & Co. dropped their price target on shares of Lowe’s Companies from $283.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, November 10th. Citigroup dropped their target price on Lowe’s Companies from $253.00 to $242.00 and set a “neutral” rating for the company in a report on Thursday, July 31st. Evercore ISI decreased their price target on Lowe’s Companies from $245.00 to $240.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, October 3rd. Finally, Wells Fargo & Company cut their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Sixteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $278.91.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Joseph Michael Mcfarland sold 43,810 shares of the firm’s stock in a transaction that occurred on Thursday, September 11th. The shares were sold at an average price of $272.60, for a total value of $11,942,606.00. Following the completion of the sale, the executive vice president owned 66,566 shares of the company’s stock, valued at $18,145,891.60. This trade represents a 39.69% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brandon J. Sink sold 8,192 shares of the business’s stock in a transaction that occurred on Friday, September 5th. The stock was sold at an average price of $268.58, for a total transaction of $2,200,207.36. Following the completion of the transaction, the executive vice president owned 21,603 shares of the company’s stock, valued at $5,802,133.74. This trade represents a 27.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 52,931 shares of company stock worth $14,381,752. 0.27% of the stock is currently owned by corporate insiders.

Lowe’s Companies Price Performance

LOW stock opened at $219.65 on Wednesday. The business has a fifty day moving average price of $245.71 and a 200 day moving average price of $237.46. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $280.64. The stock has a market capitalization of $123.19 billion, a price-to-earnings ratio of 18.05, a P/E/G ratio of 2.21 and a beta of 0.87.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, August 20th. The home improvement retailer reported $4.33 EPS for the quarter, topping the consensus estimate of $4.24 by $0.09. Lowe’s Companies had a negative return on equity of 52.02% and a net margin of 8.20%.The company had revenue of $23.96 billion for the quarter, compared to analysts’ expectations of $23.99 billion. During the same quarter in the prior year, the business earned $4.10 earnings per share. The business’s revenue for the quarter was up 1.6% on a year-over-year basis. On average, equities analysts expect that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a yield of 2.2%. Lowe’s Companies’s dividend payout ratio is currently 39.44%.

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.