Prudential Financial Inc. Has $112.65 Million Stake in Lowe’s Companies, Inc. (LOW)

Prudential Financial Inc. raised its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,370,277 shares of the home improvement retailer’s stock after buying an additional 140,700 shares during the period. Prudential Financial Inc. owned 0.16% of Lowe’s Companies worth $112,650,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Ronald Blue & Co. LLC acquired a new position in Lowe’s Companies during the first quarter worth $240,000. Folger Nolan Fleming Douglas Capital Management Inc. increased its position in shares of Lowe’s Companies by 0.4% in the first quarter. Folger Nolan Fleming Douglas Capital Management Inc. now owns 138,725 shares of the home improvement retailer’s stock valued at $11,404,000 after buying an additional 540 shares during the period. Quantum Capital Management increased its position in shares of Lowe’s Companies by 23.6% in the first quarter. Quantum Capital Management now owns 17,240 shares of the home improvement retailer’s stock valued at $1,417,000 after buying an additional 3,297 shares during the period. Meiji Yasuda Life Insurance Co increased its position in shares of Lowe’s Companies by 2.2% in the first quarter. Meiji Yasuda Life Insurance Co now owns 9,497 shares of the home improvement retailer’s stock valued at $781,000 after buying an additional 200 shares during the period. Finally, Mcrae Capital Management Inc. increased its position in shares of Lowe’s Companies by 0.9% in the first quarter. Mcrae Capital Management Inc. now owns 111,426 shares of the home improvement retailer’s stock valued at $9,160,000 after buying an additional 950 shares during the period. Institutional investors and hedge funds own 74.65% of the company’s stock.

Lowe’s Companies, Inc. (NYSE LOW) traded down 0.65% during trading on Friday, reaching $73.64. 5,153,649 shares of the company’s stock were exchanged. Lowe’s Companies, Inc. has a 52-week low of $64.87 and a 52-week high of $86.25. The stock’s 50 day moving average price is $76.47 and its 200 day moving average price is $79.47. The firm has a market cap of $62.17 billion, a P/E ratio of 23.09 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, May 24th. The home improvement retailer reported $1.03 EPS for the quarter, missing the consensus estimate of $1.06 by $0.03. Lowe’s Companies had a net margin of 4.22% and a return on equity of 56.78%. The firm had revenue of $16.86 billion during the quarter, compared to the consensus estimate of $16.99 billion. During the same period in the prior year, the business earned $0.87 earnings per share. Lowe’s Companies’s quarterly revenue was up 10.7% compared to the same quarter last year. Equities research analysts anticipate that Lowe’s Companies, Inc. will post $4.62 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be issued a $0.41 dividend. This represents a $1.64 annualized dividend and a yield of 2.23%. Lowe’s Companies’s dividend payout ratio is currently 51.57%.

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Several research analysts recently commented on LOW shares. Vetr downgraded shares of Lowe’s Companies from a “hold” rating to a “sell” rating and set a $83.11 target price on the stock. in a report on Monday, May 8th. Jefferies Group LLC lifted their target price on shares of Lowe’s Companies from $80.00 to $94.00 and gave the stock a “hold” rating in a report on Friday, May 12th. Credit Suisse Group set a $94.00 target price on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Tuesday, May 2nd. Oppenheimer Holdings, Inc. set a $100.00 price objective on shares of Lowe’s Companies and gave the stock a “buy” rating in a report on Wednesday, May 24th. Finally, Stifel Nicolaus restated a “buy” rating and set a $87.00 price objective on shares of Lowe’s Companies in a report on Friday, July 21st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $85.69.

In other Lowe’s Companies news, insider Richard D. Maltsbarger sold 11,672 shares of the firm’s stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $80.20, for a total value of $936,094.40. Following the transaction, the insider now directly owns 37,716 shares of the company’s stock, valued at approximately $3,024,823.20. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.11% of the stock is owned by company insiders.

About Lowe’s Companies

Lowe’s Companies, Inc (Lowe’s) is a home improvement retailer. The Company operates approximately 1,860 home improvement and hardware stores, representing approximately 200 million square feet of retail selling space. The Company operates approximately 1,800 stores located across over 50 states in the United States, including approximately 80 Orchard Supply Hardware (Orchard) stores in California and Oregon, as well as approximately 40 stores in Canada and over 10 stores in Mexico.

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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