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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