FUKOKU MUTUAL LIFE INSURANCE Co Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

FUKOKU MUTUAL LIFE INSURANCE Co lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 15.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 2,093 shares of the home improvement retailer’s stock after selling 370 shares during the quarter. FUKOKU MUTUAL LIFE INSURANCE Co’s holdings in Lowe’s Companies were worth $567,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in LOW. Oak Harbor Wealth Partners LLC increased its position in Lowe’s Companies by 3.6% during the third quarter. Oak Harbor Wealth Partners LLC now owns 3,949 shares of the home improvement retailer’s stock worth $1,070,000 after buying an additional 136 shares during the period. Lifeworks Advisors LLC boosted its position in Lowe’s Companies by 46.0% during the third quarter. Lifeworks Advisors LLC now owns 1,754 shares of the home improvement retailer’s stock worth $475,000 after purchasing an additional 553 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its position in shares of Lowe’s Companies by 5.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,840 shares of the home improvement retailer’s stock valued at $4,290,000 after purchasing an additional 880 shares during the last quarter. Metis Global Partners LLC lifted its holdings in Lowe’s Companies by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 23,633 shares of the home improvement retailer’s stock valued at $6,401,000 after purchasing an additional 320 shares in the last quarter. Finally, Schulhoff & Co. Inc. grew its position in shares of Lowe’s Companies by 3.8% in the third quarter. Schulhoff & Co. Inc. now owns 5,047 shares of the home improvement retailer’s stock valued at $1,367,000 after purchasing an additional 185 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

LOW opened at $270.35 on Friday. The stock has a market capitalization of $153.37 billion, a PE ratio of 22.42, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The stock’s 50 day moving average price is $266.16 and its 200-day moving average price is $243.06. 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 released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm posted $4.56 earnings per share. Research analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.70%. The ex-dividend date was Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LOW. Melius Research began coverage on Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. Wells Fargo & Company increased their price target on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Gordon Haskett cut their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. TD Cowen lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Finally, Piper Sandler raised their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.84.

Insiders Place Their Bets

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were 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 approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.