The Manufacturers Life Insurance Company Has $395.25 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

The Manufacturers Life Insurance Company cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,459,279 shares of the home improvement retailer’s stock after selling 39,736 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Lowe’s Companies were worth $395,246,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Legal & General Group Plc boosted its stake in Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Lowe’s Companies by 1.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 3,369,052 shares of the home improvement retailer’s stock valued at $912,508,000 after buying an additional 39,953 shares during the period. Ontario Teachers Pension Plan Board increased its position in Lowe’s Companies by 1.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock valued at $634,700,000 after buying an additional 36,054 shares in the last quarter. International Assets Investment Management LLC raised its stake in Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after buying an additional 2,027,668 shares during the period. Finally, Envestnet Asset Management Inc. boosted its holdings in Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after acquiring an additional 90,945 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. DA Davidson boosted their price objective on Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a report on Wednesday, November 20th. Bank of America boosted their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Melius Research started coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective on the stock. Wells Fargo & Company boosted their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Finally, Morgan Stanley raised their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Stock Up 4.0 %

Shares of LOW stock opened at $275.33 on Tuesday. Lowe’s Companies, Inc. has a 12-month low of $196.32 and a 12-month high of $287.01. The company has a 50 day moving average of $269.11 and a 200-day moving average of $245.19. The firm has a market cap of $156.19 billion, a P/E ratio of 22.96, a PEG ratio of 2.22 and a beta of 1.10.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $1.15 dividend. The ex-dividend date of this dividend 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 1.67%. Lowe’s Companies’s payout ratio is presently 38.37%.

Insider Activity

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction 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 owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Lowe’s Companies 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.