Meeder Asset Management Inc. Increases Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Meeder Asset Management Inc. increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 693.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 23,829 shares of the home improvement retailer’s stock after buying an additional 20,826 shares during the quarter. Meeder Asset Management Inc.’s holdings in Lowe’s Companies were worth $6,454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Legal & General Group Plc boosted its stake in Lowe’s Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after acquiring an additional 2,027,668 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Lowe’s Companies by 36.6% during 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 acquiring an additional 493,180 shares during 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 valued at $356,671,000 after acquiring an additional 90,945 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Lowe’s Companies by 11.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,499,015 shares of the home improvement retailer’s stock valued at $330,473,000 after acquiring an additional 149,649 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on LOW. Melius Research began coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price on the stock. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Bank of America increased their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Gordon Haskett dropped their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Finally, TD Cowen increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a report on Monday, October 28th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Stock Performance

LOW stock opened at $271.87 on Tuesday. The stock has a market cap of $154.23 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.21 and a beta of 1.10. The firm has a 50 day simple moving average of $267.74 and a 200 day simple moving average of $244.04. Lowe’s Companies, Inc. has a 52 week low of $196.23 and a 52 week high of $287.01.

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. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the company posted $4.56 earnings per share. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

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.