Renaissance Group LLC Has $31.04 Million Holdings in Lowe’s Companies, Inc. $LOW

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

Other institutional investors have also made changes to their positions in the company. Solstein Capital LLC increased its stake in Lowe’s Companies by 627.8% in the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 113 shares during the period. Traub Capital Management LLC purchased a new position in shares of Lowe’s Companies during the 2nd quarter valued at $30,000. Olistico Wealth LLC acquired a new position in shares of Lowe’s Companies in the second quarter worth $33,000. Barnes Dennig Private Wealth Management LLC raised its holdings in shares of Lowe’s Companies by 101.0% during the second 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 in the last quarter. Finally, Vista Cima Wealth Management LLC acquired a new stake in Lowe’s Companies during the first quarter valued at $44,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

Analyst Ratings Changes

Several research analysts have weighed in on the company. Evercore ISI dropped their target price on Lowe’s Companies from $245.00 to $240.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. Sanford C. Bernstein raised their price objective on shares of Lowe’s Companies from $279.00 to $282.00 and gave the company an “outperform” rating in a research report on Friday, November 7th. Oppenheimer boosted their target price on shares of Lowe’s Companies from $305.00 to $320.00 and gave the stock an “outperform” rating in a research report on Thursday, September 25th. JPMorgan Chase & Co. cut their price target on shares of Lowe’s Companies from $283.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, November 10th. Finally, Truist Financial reduced their price objective on shares of Lowe’s Companies from $283.00 to $267.00 and set a “buy” rating for the company in a research note on Friday, November 7th. Sixteen equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $278.91.

Lowe’s Companies Trading Down 2.4%

Shares of Lowe’s Companies stock opened at $219.65 on Wednesday. The firm has a fifty day simple moving average of $245.71 and a 200-day simple moving average of $237.46. The stock has a market capitalization of $123.19 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 2.21 and a beta of 0.87. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $280.64.

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. The firm had revenue of $23.96 billion for the quarter, compared to the consensus estimate of $23.99 billion. Lowe’s Companies had a net margin of 8.20% and a negative return on equity of 52.02%. The business’s quarterly revenue was up 1.6% on a year-over-year basis. During the same quarter last year, the firm posted $4.10 EPS. As a group, research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

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