Ted Buchan & Co Acquires Shares of 1,160 Lowe’s Companies, Inc. (NYSE:LOW)

Ted Buchan & Co acquired 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 acquired 1,160 shares of the home improvement retailer’s stock, valued at approximately $256,000.

Other hedge funds also recently bought and sold shares of the company. Brevan Howard Capital Management LP increased its holdings in shares of 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 valued at $3,414,000 after purchasing an additional 13,680 shares during the period. Bamco Inc. NY increased its holdings in shares of Lowe’s Companies by 10.3% in the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares during the period. Plato Investment Management Ltd increased its holdings in shares of Lowe’s Companies by 655.9% in 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 purchasing an additional 5,470 shares during the period. 17 Capital Partners LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at about $1,368,000. Finally, Gerber LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at about $235,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LOW has been the topic of a number of research reports. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. JPMorgan Chase & Co. dropped their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, August 20th. Piper Sandler increased their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday. Finally, Gordon Haskett lowered their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $260.00.

Insider Buying and Selling

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Up 1.4 %

Shares of LOW stock opened at $270.85 on Tuesday. The stock has a 50-day moving average price of $246.83 and a 200 day moving average price of $236.29. The firm has a market cap of $154.34 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $271.27.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data 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. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the company earned $4.56 earnings per share. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

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.