Jennison Associates LLC Has $68.61 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Jennison Associates LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 43.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 278,009 shares of the home improvement retailer’s stock after acquiring an additional 84,337 shares during the period. Jennison Associates LLC’s holdings in Lowe’s Companies were worth $68,613,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. FMR LLC increased its holdings in Lowe’s Companies by 10.2% during the 3rd quarter. FMR LLC now owns 26,010,730 shares of the home improvement retailer’s stock worth $7,045,006,000 after purchasing an additional 2,399,897 shares in the last quarter. International Assets Investment Management LLC grew its holdings in shares of Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after buying an additional 2,027,668 shares in the last quarter. Applied Finance Capital Management LLC raised its position in Lowe’s Companies by 387.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after buying an additional 645,017 shares during the last quarter. State Street Corp lifted its stake in Lowe’s Companies by 1.9% in the 3rd quarter. State Street Corp now owns 25,013,655 shares of the home improvement retailer’s stock valued at $6,774,948,000 after acquiring an additional 460,851 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. boosted its position in Lowe’s Companies by 219.4% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 458,343 shares of the home improvement retailer’s stock worth $124,142,000 after acquiring an additional 314,861 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Quonta D. Vance sold 7,198 shares of the stock in a transaction that occurred on Wednesday, November 27th. The stock was sold at an average price of $274.37, for a total transaction of $1,974,915.26. Following the transaction, the executive vice president now directly owns 16,703 shares in the company, valued at approximately $4,582,802.11. This represents a 30.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $256.73 on Tuesday. The business has a 50 day moving average of $259.00 and a 200-day moving average of $257.46. The company has a market capitalization of $144.96 billion, a P/E ratio of 21.41, a P/E/G ratio of 2.18 and a beta of 1.11. Lowe’s Companies, Inc. has a 1 year low of $211.80 and a 1 year high of $287.01.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, January 22nd. This represents a $4.60 dividend on an annualized basis and a yield of 1.79%. Lowe’s Companies’s payout ratio is currently 38.37%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on LOW. Guggenheim reissued a “buy” rating and issued a $300.00 price objective on shares of Lowe’s Companies in a research report on Thursday, December 12th. Telsey Advisory Group restated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research note on Thursday, December 12th. Barclays lifted their target price on Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 20th. Royal Bank of Canada increased their price target on Lowe’s Companies from $291.00 to $292.00 and gave the company a “sector perform” rating in a research report on Thursday, December 12th. Finally, Evercore ISI boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock an “in-line” rating in a research report on Thursday, December 12th. Ten analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $280.85.

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.