2,920,788 Shares in Lowe's Companies, Inc. (NYSE:LOW) Acquired by Nuveen LLC

Key Points

• Nuveen LLC purchased 2,920,788 shares of Lowe's Companies, Inc. for approximately $681.2 million, owning about 0.52% of the company as of its latest SEC filing.
• Lowe's reported an earnings per share (EPS) of $2.92 for the last quarter, beating estimates, although revenue declined by 2.0% year-over-year.
• The company announced an increase in its quarterly dividend from $1.15 to $1.20, yielding 2.0%, reflecting a strong commitment to returning value to shareholders.

Nuveen LLC purchased a new position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,920,788 shares of the home improvement retailer's stock, valued at approximately $681,215,000. Nuveen LLC owned approximately 0.52% of Lowe's Companies at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its position in shares of Lowe's Companies by 119.7% in the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after purchasing an additional 17,413 shares during the period. Revolve Wealth Partners LLC raised its position in shares of Lowe's Companies by 31.6% in the fourth quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after purchasing an additional 259 shares during the period. Renaissance Technologies LLC raised its position in shares of Lowe's Companies by 2,962.5% in the fourth quarter. Renaissance Technologies LLC now owns 98,000 shares of the home improvement retailer's stock valued at $24,186,000 after purchasing an additional 94,800 shares during the period. F M Investments LLC bought a new position in shares of Lowe's Companies in the fourth quarter valued at about $201,000. Finally, Phoenix Financial Ltd. raised its position in shares of Lowe's Companies by 16.3% in the fourth quarter. Phoenix Financial Ltd. now owns 1,797 shares of the home improvement retailer's stock valued at $444,000 after purchasing an additional 252 shares during the period. 74.06% of the stock is owned by institutional investors.

Lowe's Companies Trading Down 0.5%

Lowe's Companies stock traded down $1.11 during trading hours on Monday, reaching $240.04. 2,602,458 shares of the stock were exchanged, compared to its average volume of 2,697,837. The stock has a 50 day moving average of $224.68 and a two-hundred day moving average of $230.41. Lowe's Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $287.01. The company has a market cap of $134.53 billion, a P/E ratio of 19.89, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, beating analysts' consensus estimates of $2.88 by $0.04. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. During the same period last year, the company posted $3.06 EPS. The firm's quarterly revenue was down 2.0% compared to the same quarter last year. On average, analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Investors of record on Wednesday, July 23rd were given a dividend of $1.20 per share. The ex-dividend date was Wednesday, July 23rd. This represents a $4.80 annualized dividend and a yield of 2.0%. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's dividend payout ratio is 39.77%.

Insider Buying and Selling

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the sale, the executive vice president directly owned 31,898 shares in the company, valued at $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.27% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LOW. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 price objective on shares of Lowe's Companies in a research report on Wednesday, May 21st. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the stock a "buy" rating in a research report on Thursday, May 22nd. Stifel Nicolaus lowered their price target on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research report on Tuesday, May 27th. Robert W. Baird lowered their price target on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research report on Thursday, May 22nd. Finally, Royal Bank Of Canada lowered their price target on shares of Lowe's Companies from $244.00 to $242.00 and set a "sector perform" rating on the stock in a research report on Thursday, May 22nd. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $270.68.

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.