Sumitomo Mitsui Trust Group Inc. Has $350.92 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Sumitomo Mitsui Trust Group Inc. boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,295,624 shares of the home improvement retailer’s stock after purchasing an additional 14,900 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Lowe’s Companies were worth $350,920,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. JNBA Financial Advisors lifted its position in shares of Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. MFA Wealth Advisors LLC grew its stake in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares during the period. Stephens Consulting LLC grew its stake in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the last quarter. Kimelman & Baird LLC acquired a new position in Lowe’s Companies during the 2nd quarter worth about $37,000. Finally, Tsfg LLC grew its stake in shares of Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE LOW opened at $274.51 on Tuesday. Lowe’s Companies, Inc. has a 52 week low of $192.10 and a 52 week high of $287.01. The stock’s 50 day moving average price is $265.13 and its two-hundred day moving average price is $242.57. The stock has a market capitalization of $155.73 billion, a price-to-earnings ratio of 22.76, a PEG ratio of 2.23 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the business earned $4.56 earnings per share. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.92 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.68%. Lowe’s Companies’s payout ratio is currently 38.14%.

Insider Activity

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

LOW has been the subject of several recent research reports. Bank of America upped their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Sanford C. Bernstein started coverage on Lowe’s Companies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price objective for the company. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Truist Financial increased their target price on Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, UBS Group increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $273.84.

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.