Ontario Teachers Pension Plan Board Buys 36,054 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Ontario Teachers Pension Plan Board boosted its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 2,343,365 shares of the home improvement retailer's stock after purchasing an additional 36,054 shares during the period. Lowe's Companies comprises approximately 5.4% of Ontario Teachers Pension Plan Board's portfolio, making the stock its 6th largest position. Ontario Teachers Pension Plan Board owned 0.41% of Lowe's Companies worth $634,700,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the stock. Legal & General Group Plc boosted its position in Lowe's Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer's stock worth $1,147,603,000 after acquiring an additional 82,978 shares during the last quarter. International Assets Investment Management LLC increased its stake in Lowe's Companies by 1,889.7% during the third 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 purchasing an additional 2,027,668 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Lowe's Companies by 36.6% in the first 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 buying an additional 493,180 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in shares of Lowe's Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer's stock valued at $356,671,000 after purchasing an additional 90,945 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Lowe's Companies by 11.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,499,015 shares of the home improvement retailer's stock worth $330,473,000 after purchasing an additional 149,649 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Insider Buying and Selling

In other Lowe's Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe's Companies 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 owns 9,383 shares of the company's stock, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe's Companies stock in a transaction dated 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 sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Lowe's Companies Price Performance

LOW stock traded up $3.77 on Wednesday, reaching $263.03. 2,858,702 shares of the company traded hands, compared to its average volume of 2,450,444. The company has a market cap of $149.21 billion, a P/E ratio of 21.72, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The firm has a fifty day simple moving average of $267.97 and a 200-day simple moving average of $244.23. Lowe's Companies, Inc. has a one year low of $196.23 and a one year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its 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. Lowe's Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the firm earned $4.56 earnings per share. The company's quarterly revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Lowe's Companies, Inc. will post 11.93 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a $1.15 dividend. This is an increase from Lowe's Companies's previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Wednesday, October 23rd. Lowe's Companies's payout ratio is presently 38.14%.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent research reports. UBS Group raised their price target on Lowe's Companies from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Telsey Advisory Group reiterated an "outperform" rating and set a $305.00 target price on shares of Lowe's Companies in a research report on Tuesday. Wedbush reissued a "neutral" rating and set a $250.00 target price on shares of Lowe's Companies in a research note on Wednesday, August 21st. Gordon Haskett reduced their target price on shares of Lowe's Companies from $245.00 to $240.00 and set a "hold" rating for the company in a report on Wednesday, August 21st. Finally, Bank of America raised their price target on Lowe's Companies from $275.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, October 11th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $277.92.

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.