Quantbot Technologies LP Takes Position in Lowe's Companies, Inc. $LOW

Key Points

• Quantbot Technologies LP acquired a new stake in Lowe's Companies, buying 18,102 shares valued at approximately $4.22 million in the first quarter.
• Multiple institutional investors, including Wellington Management Group LLP and Korea Investment CORP, have significantly increased their positions in Lowe's Companies during the same quarter, reflecting growing institutional interest in the stock.
• Lowe's Companies announced a quarterly dividend increase to $1.20 per share, raising the annualized yield to 1.9%, demonstrating the company's ongoing commitment to returning value to shareholders.

Quantbot Technologies LP bought a new stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,102 shares of the home improvement retailer's stock, valued at approximately $4,222,000.

A number of other institutional investors have also recently modified their holdings of the stock. Wellington Management Group LLP lifted its position in shares of Lowe's Companies by 49.0% during the 1st quarter. Wellington Management Group LLP now owns 1,881,196 shares of the home improvement retailer's stock valued at $438,751,000 after acquiring an additional 618,775 shares during the period. Korea Investment CORP lifted its position in shares of Lowe's Companies by 1.5% during the 1st quarter. Korea Investment CORP now owns 386,048 shares of the home improvement retailer's stock valued at $90,038,000 after acquiring an additional 5,824 shares during the period. Sand Hill Global Advisors LLC lifted its position in shares of Lowe's Companies by 21.1% during the 1st quarter. Sand Hill Global Advisors LLC now owns 3,521 shares of the home improvement retailer's stock valued at $821,000 after acquiring an additional 613 shares during the period. Aptus Capital Advisors LLC lifted its position in shares of Lowe's Companies by 12.2% during the 1st quarter. Aptus Capital Advisors LLC now owns 119,310 shares of the home improvement retailer's stock valued at $27,827,000 after acquiring an additional 13,005 shares during the period. Finally, Aviso Financial Inc. lifted its position in shares of Lowe's Companies by 5.0% during the 1st quarter. Aviso Financial Inc. now owns 14,599 shares of the home improvement retailer's stock valued at $3,405,000 after acquiring an additional 690 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on LOW. Gordon Haskett upgraded Lowe's Companies to a "hold" rating in a research report on Wednesday, August 13th. Sanford C. Bernstein set a $266.00 price objective on Lowe's Companies and gave the stock an "outperform" rating in a research report on Thursday, May 22nd. DA Davidson dropped their price objective on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a research report on Thursday, May 22nd. Citigroup dropped their price objective on Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating for the company in a research report on Thursday, July 31st. Finally, Mizuho restated an "outperform" rating and set a $280.00 price objective on shares of Lowe's Companies in a research report on Friday, June 13th. Sixteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, Lowe's Companies has a consensus rating of "Moderate Buy" and a consensus target price of $271.68.

Lowe's Companies Stock Up 2.1%

Shares of LOW opened at $256.2080 on Wednesday. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The business has a 50-day simple moving average of $227.78 and a two-hundred day simple moving average of $230.16. The stock has a market cap of $143.59 billion, a PE ratio of 21.23, a PEG ratio of 2.37 and a beta of 0.89.

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

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend was Wednesday, July 23rd. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. Lowe's Companies's payout ratio is currently 39.77%.

Insider Transactions at Lowe's Companies

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

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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