Asset Management One Co. Ltd. Has $53.87 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Asset Management One Co. Ltd. grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.3% during the first quarter, HoldingsChannel.com reports. The firm owned 230,982 shares of the home improvement retailer’s stock after purchasing an additional 13,769 shares during the period. Asset Management One Co. Ltd.’s holdings in Lowe’s Companies were worth $53,872,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Valmark Advisers Inc. boosted its stake in shares of Lowe’s Companies by 1.9% during the first quarter. Valmark Advisers Inc. now owns 11,510 shares of the home improvement retailer’s stock valued at $2,684,000 after purchasing an additional 211 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Lowe’s Companies by 0.5% during the first quarter. Oppenheimer & Co. Inc. now owns 93,738 shares of the home improvement retailer’s stock valued at $21,863,000 after purchasing an additional 427 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Lowe’s Companies by 6.2% during the first quarter. Oppenheimer Asset Management Inc. now owns 154,922 shares of the home improvement retailer’s stock valued at $36,132,000 after purchasing an additional 9,058 shares in the last quarter. Live Oak Private Wealth LLC boosted its stake in shares of Lowe’s Companies by 0.6% during the first quarter. Live Oak Private Wealth LLC now owns 61,206 shares of the home improvement retailer’s stock valued at $14,275,000 after purchasing an additional 348 shares in the last quarter. Finally, Vantage Investment Partners LLC boosted its stake in shares of Lowe’s Companies by 4.5% during the first quarter. Vantage Investment Partners LLC now owns 56,147 shares of the home improvement retailer’s stock valued at $13,095,000 after purchasing an additional 2,394 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the company’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the sale, the executive vice president now owns 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Trading Up 2.8%

LOW opened at $218.64 on Tuesday. The company’s fifty day moving average price is $222.92 and its two-hundred day moving average price is $237.17. Lowe’s Companies, Inc. has a 1-year low of $206.39 and a 1-year high of $287.01. The company has a market cap of $122.53 billion, a price-to-earnings ratio of 18.11, a PEG ratio of 2.01 and a beta of 0.92.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same quarter in the prior year, the company posted $3.06 earnings per share. The business’s revenue was down 2.0% on a year-over-year basis. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd will be issued a dividend of $1.20 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $1.15. The ex-dividend date is Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.20%. Lowe’s Companies’s dividend payout ratio is presently 38.11%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LOW. Stifel Nicolaus cut their price target on Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating on the stock in a research note on Tuesday, May 27th. Royal Bank Of Canada cut their price objective on Lowe’s Companies from $244.00 to $242.00 and set a “sector perform” rating on the stock in a research note on Thursday, May 22nd. Piper Sandler cut their price objective on Lowe’s Companies from $296.00 to $269.00 and set an “overweight” rating on the stock in a research note on Monday, March 24th. Truist Financial set a $264.00 price objective on Lowe’s Companies and gave the stock a “buy” rating in a research note on Thursday, May 22nd. Finally, Wells Fargo & Company cut their price objective on Lowe’s Companies from $285.00 to $260.00 and set an “overweight” rating on the stock in a research note on Thursday, May 8th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.12.

Lowe’s Companies Company 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.