Skandinaviska Enskilda Banken AB publ Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Skandinaviska Enskilda Banken AB publ trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 42.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 121,729 shares of the home improvement retailer’s stock after selling 91,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Lowe’s Companies were worth $26,836,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares in the last quarter. Schroder Investment Management Group lifted its holdings in Lowe’s Companies by 1.9% in the 4th quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after purchasing an additional 52,859 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after purchasing an additional 493,180 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Lowe’s Companies by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after purchasing an additional 90,945 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its holdings in shares of Lowe’s Companies by 14.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 1,516,347 shares of the home improvement retailer’s stock worth $337,463,000 after buying an additional 194,070 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.3 %

Shares of NYSE LOW opened at $260.17 on Friday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The business’s 50 day moving average is $243.58 and its two-hundred day moving average is $235.40. The firm has a market cap of $148.25 billion, a price-to-earnings ratio of 20.90, a PEG ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the business earned $4.56 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. Analysts anticipate that Lowe’s Companies, Inc. will post 11.93 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 paid a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.77%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Evercore ISI boosted their target price on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Morgan Stanley increased their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company lowered their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, Gordon Haskett cut their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $253.33.

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.