Ossiam Lowers Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Posted by Defense World Staff on Sep 10th, 2023

Lowe's Companies logo Ossiam decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 44.6% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 35,970 shares of the home improvement retailer’s stock after selling 28,924 shares during the quarter. Ossiam’s holdings in Lowe’s Companies were worth $7,193,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the business. Morgan Stanley raised its position in Lowe’s Companies by 21.3% in the 4th quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after buying an additional 2,050,089 shares during the last quarter. Norges Bank bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at about $1,461,267,000. Moneta Group Investment Advisors LLC grew its stake in shares of Lowe’s Companies by 107,710.7% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after purchasing an additional 5,075,327 shares during the period. Franklin Resources Inc. grew its stake in shares of Lowe’s Companies by 0.3% during the 4th quarter. Franklin Resources Inc. now owns 3,623,125 shares of the home improvement retailer’s stock valued at $721,871,000 after purchasing an additional 10,340 shares during the period. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Lowe’s Companies by 11.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 2,704,721 shares of the home improvement retailer’s stock valued at $538,889,000 after purchasing an additional 273,884 shares during the period. Hedge funds and other institutional investors own 71.88% of the company’s stock.

Insider Buying and Selling

In related news, EVP Janice Dupre sold 5,380 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the transaction, the executive vice president now owns 24,216 shares in the company, valued at approximately $5,600,676.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the completion of the sale, the executive vice president now directly owns 46,594 shares of the company’s stock, valued at approximately $10,368,562.82. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Janice Dupre sold 5,380 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $231.28, for a total value of $1,244,286.40. Following the sale, the executive vice president now directly owns 24,216 shares of the company’s stock, valued at $5,600,676.48. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Stock Performance

LOW opened at $231.29 on Friday. Lowe’s Companies, Inc. has a one year low of $176.50 and a one year high of $237.21. The company has a market cap of $133.48 billion, a P/E ratio of 22.76, a PEG ratio of 1.52 and a beta of 1.09. The business’s 50-day simple moving average is $227.45 and its 200-day simple moving average is $212.67.

Lowe’s Companies (NYSE:LOW – Get Free Report) last released its quarterly earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.49 by $0.07. The firm had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.97 billion. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The firm’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same quarter last year, the business posted $4.67 EPS. As a group, analysts predict that Lowe’s Companies, Inc. will post 13.45 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be paid a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $4.40 dividend on an annualized basis and a yield of 1.90%. Lowe’s Companies’s dividend payout ratio is presently 43.31%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on LOW. Wedbush reaffirmed a “neutral” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 23rd. Sanford C. Bernstein raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price target for the company from $252.00 to $282.00 in a research note on Tuesday, September 5th. DA Davidson increased their target price on Lowe’s Companies from $228.00 to $237.00 in a research note on Wednesday, May 24th. 888 reissued a “maintains” rating on shares of Lowe’s Companies in a research note on Wednesday, May 17th. Finally, Guggenheim increased their target price on Lowe’s Companies from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $237.48.

Get Our Latest Stock Analysis on LOW

Lowe’s Companies Profile

(Free Report)

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.