Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Sei Investments Co.

Sei Investments Co. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 480,491 shares of the home improvement retailer’s stock after purchasing an additional 9,228 shares during the period. Sei Investments Co. owned approximately 0.08% of Lowe’s Companies worth $105,927,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised its position in Lowe’s Companies by 5.2% during 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. Strategic Financial Concepts LLC grew its stake in shares of Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after purchasing an additional 1,199,100 shares during the period. M&G Plc purchased a new position in shares of Lowe’s Companies during the 1st quarter valued at approximately $217,995,000. Pathstone Holdings LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $126,615,000. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after buying an additional 493,180 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Wells Fargo & Company cut 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. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday, August 20th. TD Cowen increased their price target on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research report on Thursday. UBS Group boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Thirteen research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Hold” and a consensus target price of $253.33.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $260.14 on Friday. The business’s 50 day moving average price is $243.58 and its 200 day moving average price is $235.36. The company has a market cap of $148.24 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping 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 business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the firm earned $4.56 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared 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 boost 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 is 36.95%.

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.