May 20, 2022

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Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by DekaBank Deutsche Girozentrale


Image about Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOWGet Rating) by 58.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 261,869 shares of the home improvement retailer’s stock after purchasing an additional 97,058 shares during the period. DekaBank Deutsche Girozentrale’s holdings in Lowe’s Companies were worth $67,463,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB grew its holdings in Lowe’s Companies by 96.3% during the third quarter. Nordea Investment Management AB now owns 3,380,885 shares of the home improvement retailer’s stock worth $698,964,000 after acquiring an additional 1,658,293 shares during the period. Wellington Management Group LLP increased its stake in Lowe’s Companies by 35.8% in the 3rd quarter. Wellington Management Group LLP now owns 5,093,210 shares of the home improvement retailer’s stock worth $1,033,209,000 after purchasing an additional 1,342,761 shares in the last quarter. Soroban Capital Partners LP increased its stake in Lowe’s Companies by 8.3% in the 3rd quarter. Soroban Capital Partners LP now owns 4,617,627 shares of the home improvement retailer’s stock worth $936,732,000 after purchasing an additional 354,695 shares in the last quarter. Focused Investors LLC purchased a new position in Lowe’s Companies in the 3rd quarter worth about $63,901,000. Finally, Deutsche Bank AG increased its stake in Lowe’s Companies by 17.7% in the 3rd quarter. Deutsche Bank AG now owns 1,986,145 shares of the home improvement retailer’s stock worth $402,911,000 after purchasing an additional 298,543 shares in the last quarter. 73.20% of the stock is currently owned by institutional investors.

LOW traded up $4.02 on Friday, hitting $206.66. The company had a trading volume of 5,065,517 shares, compared to its average volume of 4,943,968. The company’s fifty day moving average price is $222.17 and its 200 day moving average price is $231.94. Lowe’s Companies, Inc. has a 1-year low of $182.08 and a 1-year high of $263.31. The stock has a market cap of $136.72 billion, a price-to-earnings ratio of 17.26, a price-to-earnings-growth ratio of 1.23 and a beta of 1.32.

Lowe’s Companies (NYSE:LOWGet Rating) last posted its earnings results on Wednesday, February 23rd. The home improvement retailer reported $1.78 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.72 by $0.06. Lowe’s Companies had a negative return on equity of 551.52% and a net margin of 8.77%. The firm had revenue of $21.34 billion during the quarter, compared to analyst estimates of $20.91 billion. During the same period in the previous year, the company earned $1.33 EPS. The company’s revenue for the quarter was up 5.1% on a year-over-year basis. Analysts expect that Lowe’s Companies, Inc. will post 13.4 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 4th. Shareholders of record on Wednesday, April 20th will be given a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.55%. The ex-dividend date of this dividend is Tuesday, April 19th. Lowe’s Companies’s dividend payout ratio is currently 26.73%.

Lowe’s Companies declared that its Board of Directors has approved a stock buyback program on Wednesday, December 15th that allows the company to repurchase $13.00 billion in outstanding shares. This repurchase authorization allows the home improvement retailer to repurchase up to 7.6% of its shares through open market purchases. Shares repurchase programs are generally an indication that the company’s leadership believes its stock is undervalued.

A number of equities analysts recently weighed in on LOW shares. Jefferies Financial Group lifted their price target on Lowe’s Companies from $290.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, December 16th. StockNews.com started coverage on Lowe’s Companies in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Citigroup lifted their price target on Lowe’s Companies from $270.00 to $292.00 and gave the stock a “buy” rating in a research note on Tuesday, January 18th. Guggenheim lifted their price target on Lowe’s Companies from $275.00 to $300.00 and gave the stock a “buy” rating in a research note on Thursday, December 16th. Finally, Evercore ISI began coverage on Lowe’s Companies in a research report on Tuesday, February 15th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies has an average rating of “Buy” and a consensus target price of $258.65.

Lowe’s Companies Profile (Get Rating)

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

Further Reading

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



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