1832 Asset Management L.P. Acquires 202,268 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

1832 Asset Management L.P. raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 45,250.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 202,715 shares of the home improvement retailer’s stock after acquiring an additional 202,268 shares during the period. 1832 Asset Management L.P.’s holdings in Lowe’s Companies were worth $44,691,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Voisard Asset Management Group Inc. bought a new stake in shares of Lowe’s Companies during the 4th quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $31,000. Stephens Consulting LLC grew its stake in shares of 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. Keener Financial Planning LLC acquired a new position in shares of Lowe’s Companies during the first quarter worth $35,000. Finally, Raleigh Capital Management Inc. increased its holdings in shares of Lowe’s Companies by 48.8% during the fourth quarter. Raleigh Capital Management Inc. now owns 183 shares of the home improvement retailer’s stock worth $41,000 after buying an additional 60 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.3 %

Shares of LOW stock opened at $260.14 on Monday. The firm has a 50 day moving average of $243.58 and a 200-day moving average of $235.32. The company has a market cap of $148.24 billion, a price-to-earnings ratio of 20.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the company posted $4.56 earnings per share. The business’s quarterly revenue was down 5.5% on a year-over-year basis. Analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Evercore ISI boosted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Gordon Haskett decreased their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Finally, Bank of America cut their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Hold” and a consensus target price of $253.48.

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.