Canada Pension Plan Investment Board lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 60.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 174,715 shares of the home improvement retailer’s stock after selling 264,204 shares during the period. Canada Pension Plan Investment Board’s holdings in Lowe’s Companies were worth $23,607,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also made changes to their positions in LOW. Public Employees Retirement Association of Colorado increased its position in Lowe’s Companies by 3.9% in the 1st quarter. Public Employees Retirement Association of Colorado now owns 144,989 shares of the home improvement retailer’s stock valued at $12,476,000 after acquiring an additional 5,436 shares in the last quarter. Teacher Retirement System of Texas raised its position in Lowe’s Companies by 14.4% in the 1st quarter. Teacher Retirement System of Texas now owns 31,579 shares of the home improvement retailer’s stock worth $2,717,000 after purchasing an additional 3,984 shares during the last quarter. Fort Washington Investment Advisors Inc. OH lifted its position in Lowe’s Companies by 1.3% during the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 7,840 shares of the home improvement retailer’s stock valued at $675,000 after purchasing an additional 100 shares during the period. Private Ocean LLC boosted its stake in shares of Lowe’s Companies by 37.0% in the 1st quarter. Private Ocean LLC now owns 552 shares of the home improvement retailer’s stock valued at $47,000 after purchasing an additional 149 shares during the last quarter. Finally, First Trust Advisors LP grew its position in shares of Lowe’s Companies by 22.3% during the 1st quarter. First Trust Advisors LP now owns 512,165 shares of the home improvement retailer’s stock worth $44,072,000 after buying an additional 93,544 shares during the period. 74.63% of the stock is currently owned by institutional investors and hedge funds.
In related news, EVP Ross W. Mccanless sold 62,838 shares of the business’s stock in a transaction dated Wednesday, August 26th. The stock was sold at an average price of $168.33, for a total value of $10,577,520.54. Following the completion of the transaction, the executive vice president now owns 72,967 shares of the company’s stock, valued at $12,282,535.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.07% of the stock is currently owned by company insiders.
A number of analysts have commented on the stock. Oppenheimer reaffirmed a “buy” rating on shares of Lowe’s Companies in a report on Tuesday, June 16th. Wedbush increased their target price on Lowe’s Companies from $125.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Truist Financial increased their price target on shares of Lowe’s Companies from $135.00 to $178.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Nomura boosted their price objective on shares of Lowe’s Companies from $130.00 to $146.00 and gave the company a “buy” rating in a report on Tuesday, June 23rd. Finally, Gordon Haskett raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their target price for the company from $110.00 to $151.00 in a research note on Tuesday, June 2nd. Three equities research analysts have rated the stock with a hold rating, thirty-one have given a buy rating and one has assigned a strong buy rating to the company. Lowe’s Companies currently has a consensus rating of “Buy” and a consensus target price of $164.88.
LOW stock opened at $161.89 on Friday. Lowe’s Companies, Inc. has a twelve month low of $60.00 and a twelve month high of $171.32. The business has a 50 day moving average price of $156.02 and a two-hundred day moving average price of $123.47. The company has a market cap of $119.66 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 1.16 and a beta of 1.50. The company has a quick ratio of 0.65, a current ratio of 1.30 and a debt-to-equity ratio of 4.64.
Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.95 by $0.80. Lowe’s Companies had a return on equity of 228.17% and a net margin of 7.12%. The business had revenue of $27.30 billion during the quarter, compared to analysts’ expectations of $24.24 billion. During the same period in the previous year, the company posted $2.15 earnings per share. The firm’s revenue for the quarter was up 30.1% compared to the same quarter last year. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 8.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Wednesday, October 21st will be issued a dividend of $0.60 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a dividend yield of 1.48%. The ex-dividend date of this dividend is Tuesday, October 20th. Lowe’s Companies’s dividend payout ratio is 38.46%.
Lowe’s Companies Profile
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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