KLP Kapitalforvaltning AS Invests $47.49 Million in Lowe's Companies, Inc. (NYSE:LOW)

KLP Kapitalforvaltning AS bought a new stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 192,403 shares of the home improvement retailer's stock, valued at approximately $47,485,000.

A number of other large investors also recently bought and sold shares of LOW. United Bank raised its position in Lowe's Companies by 1.4% in the third quarter. United Bank now owns 10,099 shares of the home improvement retailer's stock valued at $2,735,000 after purchasing an additional 137 shares during the period. Jennison Associates LLC raised its holdings in shares of Lowe's Companies by 23.7% in the 3rd quarter. Jennison Associates LLC now owns 193,672 shares of the home improvement retailer's stock valued at $52,456,000 after buying an additional 37,162 shares during the period. Citizens Financial Group Inc. RI raised its holdings in shares of Lowe's Companies by 6.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 20,757 shares of the home improvement retailer's stock valued at $5,622,000 after buying an additional 1,219 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in Lowe's Companies by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 241,546 shares of the home improvement retailer's stock worth $65,422,000 after acquiring an additional 2,324 shares in the last quarter. Finally, LPL Financial LLC boosted its holdings in Lowe's Companies by 3.9% during the 3rd quarter. LPL Financial LLC now owns 813,617 shares of the home improvement retailer's stock valued at $220,368,000 after acquiring an additional 30,740 shares during the period. Institutional investors and hedge funds own 74.06% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent research reports. Stifel Nicolaus boosted their price target on shares of Lowe's Companies from $265.00 to $270.00 and gave the stock a "hold" rating in a research note on Wednesday, December 11th. Guggenheim restated a "buy" rating and set a $300.00 target price on shares of Lowe's Companies in a research note on Thursday, December 12th. Bank of America cut their price target on Lowe's Companies from $305.00 to $290.00 and set a "buy" rating on the stock in a research note on Thursday, February 27th. Wedbush restated a "neutral" rating and set a $250.00 price objective on shares of Lowe's Companies in a research report on Thursday, December 12th. Finally, BNP Paribas raised shares of Lowe's Companies to a "strong sell" rating in a research report on Thursday, February 27th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Lowe's Companies presently has an average rating of "Moderate Buy" and an average price target of $279.71.

Lowe's Companies Stock Performance

NYSE:LOW traded down $2.05 during trading hours on Tuesday, hitting $230.85. The company's stock had a trading volume of 579,456 shares, compared to its average volume of 2,279,546. Lowe's Companies, Inc. has a 52-week low of $211.80 and a 52-week high of $287.01. The business's 50-day moving average is $247.67 and its two-hundred day moving average is $257.80. The company has a market capitalization of $130.35 billion, a PE ratio of 19.24, a PEG ratio of 1.96 and a beta of 1.12.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $1.93 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.83 by $0.10. The business had revenue of $18.55 billion during the quarter, compared to the consensus estimate of $18.29 billion. Lowe's Companies had a net margin of 8.19% and a negative return on equity of 47.55%. As a group, analysts predict that Lowe's Companies, Inc. will post 11.9 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 7th. Stockholders of record on Wednesday, April 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, April 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.99%. Lowe's Companies's payout ratio is 37.67%.

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.