Lowe’s Companies, Inc. $LOW Shares Sold by Massachusetts Financial Services Co. MA

Massachusetts Financial Services Co. MA cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,602,063 shares of the home improvement retailer’s stock after selling 116,828 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Lowe’s Companies were worth $1,659,164,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Lowe’s Companies by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock worth $12,197,604,000 after purchasing an additional 366,977 shares during the period. State Street Corp grew its stake in Lowe’s Companies by 0.8% during the second quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock worth $5,527,176,000 after buying an additional 207,826 shares during the period. Geode Capital Management LLC raised its stake in shares of Lowe’s Companies by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock valued at $2,732,049,000 after acquiring an additional 42,190 shares during the period. Norges Bank acquired a new position in shares of Lowe’s Companies during the second quarter worth about $1,773,624,000. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Lowe’s Companies by 1.0% in the second quarter. Charles Schwab Investment Management Inc. now owns 3,536,122 shares of the home improvement retailer’s stock worth $784,559,000 after buying an additional 34,382 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently commented on LOW shares. Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a research report on Tuesday, January 13th. Evercore ISI restated a “positive” rating on shares of Lowe’s Companies in a research note on Thursday, November 20th. Mizuho decreased their price target on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a report on Thursday, November 20th. Wells Fargo & Company lowered 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 research report on Tuesday, November 11th. Finally, UBS Group cut their target price on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Nineteen 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. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $281.92.

Insiders Place Their Bets

In related news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 231,043 shares in the company, valued at $60,341,500.31. This represents a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.27% of the stock is owned by insiders.

Lowe’s Companies Trading Up 0.2%

Shares of NYSE LOW opened at $277.66 on Friday. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $278.44. The company has a market cap of $155.75 billion, a PE ratio of 23.02, a P/E/G ratio of 4.60 and a beta of 0.96. The stock has a 50 day simple moving average of $245.03 and a 200-day simple moving average of $244.51.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The firm had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. During the same quarter in the previous year, the business earned $2.89 EPS. The firm’s revenue for the quarter was up 3.2% on a year-over-year basis. Sell-side analysts forecast 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. Investors of record on Wednesday, January 21st will be paid a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s payout ratio is currently 39.80%.

Lowe’s Companies Profile

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.