Mirae Asset Global Investments Co. Ltd. Has $16.01 Million Stake in Lowe's Companies, Inc. (NYSE:LOW)

Mirae Asset Global Investments Co. Ltd. lifted its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 15.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,084 shares of the home improvement retailer's stock after purchasing an additional 9,617 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Lowe's Companies were worth $16,009,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Wood Tarver Financial Group LLC acquired a new stake in shares of Lowe's Companies in the 4th quarter valued at $25,000. Caisse Des Depots ET Consignations bought a new position in Lowe's Companies in the fourth quarter valued at about $33,000. Orion Capital Management LLC acquired a new stake in Lowe's Companies in the fourth quarter worth about $36,000. Inlight Wealth Management LLC acquired a new stake in Lowe's Companies in the first quarter worth about $36,000. Finally, IFS Advisors LLC raised its holdings in Lowe's Companies by 60.0% during the 1st quarter. IFS Advisors LLC now owns 160 shares of the home improvement retailer's stock worth $37,000 after purchasing an additional 60 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the completion of the transaction, the executive vice president now directly owns 31,898 shares in the company, valued at $7,256,795. This represents a 3.42% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.27% of the stock is owned by corporate insiders.

Lowe's Companies Stock Up 1.1%

Shares of NYSE:LOW opened at $223.66 on Monday. The firm has a market cap of $125.35 billion, a price-to-earnings ratio of 18.53, a PEG ratio of 2.11 and a beta of 0.92. Lowe's Companies, Inc. has a 12 month low of $206.39 and a 12 month high of $311.00. The company's fifty day simple moving average is $223.18 and its 200 day simple moving average is $235.85.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to the consensus estimate of $21.09 billion. Lowe's Companies had a negative return on equity of 49.12% and a net margin of 8.22%. The company's revenue for the quarter was down 2.0% on a year-over-year basis. During the same quarter last year, the business posted $3.06 EPS. Research 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 declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. This represents a $4.80 annualized dividend and a dividend yield of 2.15%. The ex-dividend date of this dividend is Wednesday, July 23rd. Lowe's Companies's dividend payout ratio (DPR) is currently 38.11%.

Analyst Ratings Changes

Several research analysts have recently issued reports on LOW shares. Telsey Advisory Group reaffirmed an "outperform" rating and issued a $305.00 target price on shares of Lowe's Companies in a research note on Wednesday, May 21st. KeyCorp raised shares of Lowe's Companies from a "sector weight" rating to an "overweight" rating and set a $266.00 price objective on the stock in a research note on Friday, April 25th. Piper Sandler dropped their target price on shares of Lowe's Companies from $296.00 to $269.00 and set an "overweight" rating for the company in a research report on Monday, March 24th. Truist Financial set a $264.00 price target on Lowe's Companies and gave the company a "buy" rating in a research note on Thursday, May 22nd. Finally, JPMorgan Chase & Co. decreased their price objective on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating for the company in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, Lowe's Companies presently has an average rating of "Moderate Buy" and a consensus price target of $271.12.

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.

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