Varma Mutual Pension Insurance Co Acquires 6,800 Shares of Lowe’s Companies, Inc. $LOW

Varma Mutual Pension Insurance Co raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.7% during the 3rd quarter, HoldingsChannel reports. The fund owned 84,763 shares of the home improvement retailer’s stock after acquiring an additional 6,800 shares during the quarter. Varma Mutual Pension Insurance Co’s holdings in Lowe’s Companies were worth $21,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Maj Invest Holding A S lifted its stake in shares of Lowe’s Companies by 15.7% during the 3rd quarter. Maj Invest Holding A S now owns 802,990 shares of the home improvement retailer’s stock valued at $201,801,000 after buying an additional 108,813 shares in the last quarter. Bridges Investment Management Inc. increased its stake in Lowe’s Companies by 13.4% in the 3rd quarter. Bridges Investment Management Inc. now owns 420,832 shares of the home improvement retailer’s stock worth $105,759,000 after buying an additional 49,858 shares in the last quarter. Facet Wealth Inc. bought a new stake in Lowe’s Companies during the third quarter valued at about $558,000. Prudential Financial Inc. lifted its position in shares of Lowe’s Companies by 0.7% in the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock valued at $183,344,000 after acquiring an additional 5,820 shares in the last quarter. Finally, Jennison Associates LLC lifted its position in shares of Lowe’s Companies by 22.0% in the second quarter. Jennison Associates LLC now owns 497,628 shares of the home improvement retailer’s stock valued at $110,409,000 after acquiring an additional 89,839 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $286.97 on Thursday. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $287.34. The business’s 50 day moving average is $259.48 and its two-hundred day moving average is $250.94. The stock has a market capitalization of $160.97 billion, a P/E ratio of 23.80, a PEG ratio of 4.45 and a beta of 0.97.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The business had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same period last year, the company earned $2.89 EPS. As a group, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st were paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Wednesday, January 21st. Lowe’s Companies’s payout ratio is presently 39.80%.

Insiders Place Their Bets

In other news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the sale, the chief executive officer owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Oppenheimer cut their target price on Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Wells Fargo & Company dropped their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Tuesday, November 11th. Sanford C. Bernstein boosted their target price on shares of Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a report on Thursday, November 20th. Citigroup restated a “neutral” rating on shares of Lowe’s Companies in a research report on Thursday. Finally, UBS Group cut their target price on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a research note on Thursday, November 20th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $284.77.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.