E. Ohman J or Asset Management AB Increases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

E. Ohman J or Asset Management AB boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.3% in the third quarter, Holdings Channel reports. The fund owned 175,517 shares of the home improvement retailer’s stock after buying an additional 7,231 shares during the quarter. Lowe’s Companies makes up about 1.2% of E. Ohman J or Asset Management AB’s holdings, making the stock its 21st biggest holding. E. Ohman J or Asset Management AB’s holdings in Lowe’s Companies were worth $47,539,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the company. Harbour Trust & Investment Management Co grew its holdings in Lowe’s Companies by 3.7% during the 3rd quarter. Harbour Trust & Investment Management Co now owns 29,463 shares of the home improvement retailer’s stock valued at $7,980,000 after purchasing an additional 1,047 shares in the last quarter. Nicholson Wealth Management Group LLC purchased a new position in Lowe’s Companies in the 3rd quarter valued at about $982,000. Mount Yale Investment Advisors LLC grew its stake in shares of Lowe’s Companies by 14.4% during the third quarter. Mount Yale Investment Advisors LLC now owns 4,855 shares of the home improvement retailer’s stock valued at $1,315,000 after acquiring an additional 610 shares in the last quarter. Dakota Wealth Management increased its position in shares of Lowe’s Companies by 3.0% during the third quarter. Dakota Wealth Management now owns 11,565 shares of the home improvement retailer’s stock worth $3,132,000 after acquiring an additional 335 shares during the last quarter. Finally, Values First Advisors Inc. lifted its stake in shares of Lowe’s Companies by 9.8% in the third quarter. Values First Advisors Inc. now owns 3,069 shares of the home improvement retailer’s stock worth $831,000 after acquiring an additional 275 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on LOW. JPMorgan Chase & Co. lowered their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Piper Sandler raised their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Telsey Advisory Group upped their price target on shares of Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, October 2nd. Wells Fargo & Company decreased their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company 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 Wednesday, September 18th. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $270.60.

Lowe’s Companies Stock Up 0.5 %

Shares of LOW stock opened at $271.36 on Friday. The business has a 50 day moving average of $259.66 and a two-hundred day moving average of $239.47. The company has a market cap of $154.63 billion, a P/E ratio of 21.80, a PEG ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate 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 revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the firm posted $4.56 earnings per share. Analysts expect that Lowe’s Companies, Inc. will post 11.91 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. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. Lowe’s Companies’s payout ratio is currently 36.95%.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.