Y Intercept Hong Kong Ltd Has $3.82 Million Stake in Lowe’s Companies, Inc. $LOW

by · The Cerbat Gem

Y Intercept Hong Kong Ltd lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 63.7% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 15,211 shares of the home improvement retailer’s stock after purchasing an additional 5,921 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Lowe’s Companies were worth $3,823,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. SeaBridge Investment Advisors LLC increased its holdings in shares of Lowe’s Companies by 3.7% during the second quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after buying an additional 465 shares in the last quarter. QRG Capital Management Inc. boosted its holdings in shares of Lowe’s Companies by 2.6% during the 2nd quarter. QRG Capital Management Inc. now owns 154,692 shares of the home improvement retailer’s stock valued at $34,322,000 after acquiring an additional 3,947 shares in the last quarter. First Pacific Financial grew its position in Lowe’s Companies by 147.3% during the 2nd quarter. First Pacific Financial now owns 2,752 shares of the home improvement retailer’s stock worth $611,000 after acquiring an additional 1,639 shares during the last quarter. Facet Wealth Inc. acquired a new position in Lowe’s Companies in the 3rd quarter worth about $558,000. Finally, Prudential Financial Inc. raised its position in Lowe’s Companies by 0.7% in the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock valued at $183,344,000 after purchasing an additional 5,820 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

LOW has been the topic of several research reports. Wells Fargo & Company reduced their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Tuesday, November 11th. HSBC reduced their target price on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a report on Friday, November 21st. Morgan Stanley raised their price target on shares of Lowe’s Companies from $270.00 to $296.00 and gave the company an “overweight” rating in a research note on Thursday, January 15th. Stifel Nicolaus boosted their price objective on shares of Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, December 1st. Finally, Jefferies Financial Group boosted their price objective on shares of Lowe’s Companies from $280.00 to $285.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $283.65.

Get Our Latest Research Report on LOW

Insider Activity at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the sale, the chief executive officer owned 231,043 shares of the company’s stock, valued at $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.27% of the stock is currently owned by insiders.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $276.46 on Monday. The company’s 50 day moving average price is $249.28 and its 200-day moving average price is $246.36. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $281.36. The company has a market capitalization of $155.08 billion, a P/E ratio of 22.92, a price-to-earnings-growth ratio of 4.59 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.09. The business had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.89 earnings per share. Analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be paid a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s payout ratio is currently 39.80%.

About Lowe’s Companies

(Free Report)

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.

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