115,535 Shares in Lowe’s Companies, Inc. (NYSE:LOW) Acquired by Distillate Capital Partners LLC

Distillate Capital Partners LLC bought a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 115,535 shares of the home improvement retailer’s stock, valued at approximately $25,471,000. Lowe’s Companies comprises approximately 1.3% of Distillate Capital Partners LLC’s holdings, making the stock its 15th largest position.

Several other institutional investors have also added to or reduced their stakes in the business. Brevan Howard Capital Management LP raised its holdings in Lowe’s Companies by 824.6% in the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after purchasing an additional 13,680 shares during the period. Bamco Inc. NY raised its stake in shares of Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares during the period. Plato Investment Management Ltd lifted its position in shares of Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after buying an additional 5,470 shares in the last quarter. 17 Capital Partners LLC bought a new position in shares of Lowe’s Companies during the 1st quarter valued at approximately $1,368,000. Finally, Gerber LLC purchased a new stake in Lowe’s Companies in the 4th quarter worth approximately $235,000. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Up 0.8 %

NYSE LOW opened at $262.29 on Tuesday. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The firm has a market capitalization of $149.46 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.03 and a beta of 1.10. The company has a fifty day moving average of $244.18 and a two-hundred day moving average of $235.47.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate 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 company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the firm posted $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced 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 is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.75%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on LOW shares. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, August 20th. Melius Research started coverage on Lowe’s Companies in a report on Monday. They set a “buy” rating and a $290.00 price target on the stock. Piper Sandler lowered their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Finally, Royal Bank of Canada cut their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $255.00.

Insider Transactions at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred 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 owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Company 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.