Dai ichi Life Insurance Company Ltd Has $7.74 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Dai ichi Life Insurance Company Ltd cut its position in Lowe’s Companies, Inc. (NYSE:LOW) by 26.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 35,110 shares of the home improvement retailer’s stock after selling 12,380 shares during the period. Dai ichi Life Insurance Company Ltd’s holdings in Lowe’s Companies were worth $7,740,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Drive Wealth Management LLC raised its stake in Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after buying an additional 41 shares during the period. Crown Wealth Group LLC increased its holdings in shares of Lowe’s Companies by 4.4% in the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after acquiring an additional 44 shares in the last quarter. Pure Financial Advisors LLC raised its position in shares of Lowe’s Companies by 2.5% during the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after purchasing an additional 45 shares during the period. BLB&B Advisors LLC lifted its holdings in shares of Lowe’s Companies by 2.2% during the 2nd quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after purchasing an additional 45 shares in the last quarter. Finally, First Bank & Trust grew its position in shares of Lowe’s Companies by 3.1% in the 1st quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock valued at $384,000 after purchasing an additional 46 shares during the period. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on LOW shares. JPMorgan Chase & Co. cut their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. Evercore ISI lifted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. UBS Group upped their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada dropped their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $252.83.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $255.41 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The firm has a market capitalization of $144.89 billion, a PE ratio of 20.51, a P/E/G ratio of 2.03 and a beta of 1.10. The company’s 50-day moving average is $240.11 and its 200-day moving average is $234.78.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.80%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

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.