Flagship Harbor Advisors LLC boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 58.8% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,474 shares of the home improvement retailer’s stock after purchasing an additional 2,026 shares during the period. Flagship Harbor Advisors LLC’s holdings in Lowe’s Companies were worth $908,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Lowe’s Companies during the second quarter worth $26,000. PrairieView Partners LLC acquired a new position in Lowe’s Companies during the 2nd quarter worth about $26,000. CVA Family Office LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at about $29,000. Financial Management Professionals Inc. acquired a new position in Lowe’s Companies in the 2nd quarter valued at about $32,000. Finally, Price Wealth LLC acquired a new position in Lowe’s Companies in the 2nd quarter valued at about $35,000. 74.63% of the stock is currently owned by institutional investors.
Several research analysts have recently commented on the stock. Wedbush raised their price objective on shares of Lowe’s Companies from $125.00 to $180.00 and gave the company an “outperform” rating in a research note on Thursday, August 20th. Exane BNP Paribas started coverage on shares of Lowe’s Companies in a research report on Monday, October 5th. They issued a “neutral” rating and a $159.00 price target for the company. Truist Securiti upped their price objective on Lowe’s Companies from $135.00 to $178.00 in a research report on Wednesday, August 12th. Loop Capital lifted their target price on Lowe’s Companies from $180.00 to $195.00 and gave the company a “buy” rating in a report on Wednesday, September 23rd. They noted that the move was a valuation call. Finally, BofA Securities boosted their target price on Lowe’s Companies from $176.00 to $200.00 and gave the stock a “buy” rating in a research note on Thursday, August 20th. Four research analysts have rated the stock with a hold rating, twenty-nine have issued a buy rating and one has issued a strong buy rating to the stock. Lowe’s Companies currently has a consensus rating of “Buy” and a consensus price target of $168.30.
In related news, EVP Ross W. Mccanless sold 62,838 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 72,967 shares in the company, valued at approximately $12,282,535.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.07% of the stock is owned by insiders.
LOW opened at $175.33 on Wednesday. The company has a debt-to-equity ratio of 4.64, a current ratio of 1.30 and a quick ratio of 0.65. Lowe’s Companies, Inc. has a 12 month low of $60.00 and a 12 month high of $175.94. The stock has a market capitalization of $132.50 billion, a P/E ratio of 23.32, a P/E/G ratio of 1.19 and a beta of 1.48. The business has a 50 day simple moving average of $163.93 and a 200-day simple moving average of $133.83.
Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 EPS for the quarter, topping the consensus estimate of $2.95 by $0.80. The company had revenue of $27.30 billion for the quarter, compared to analyst estimates of $24.24 billion. Lowe’s Companies had a net margin of 7.12% and a return on equity of 228.17%. The business’s revenue was up 30.1% on a year-over-year basis. During the same period in the previous year, the firm earned $2.15 EPS. Research analysts anticipate that Lowe’s Companies, Inc. will post 8.48 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Wednesday, October 21st will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.55. The ex-dividend date is Tuesday, October 20th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.46%.
About Lowe’s Companies
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 appliances, dÃ©cor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.
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