Several institutional investors have recently changed their stakes in Lowe’s Companies. Bamco Inc. NY increased its holdings by 10.3%, now owning 216,958 shares valued at $55.3 million. Plato Investment Management Ltd boosted its stake by 655.9% to 6,304 shares worth $1.6 million. Lincoln National Corp raised its position by 1.5% to 11,128 shares valued at $2.8 million. Daymark Wealth Partners LLC grew its stake by 12.7% to 25,569 shares worth $5.6 million, while AMF Tjanstepension AB increased its holdings by 14.4% to 159,742 shares valued at $43.3 million. Overall, institutional investors own 74.06% of the stock.
Lowe’s Companies Trading Update
NYSE:LOW opened at $281.64. The stock’s range over the past year is from $181.85 to $287.01. The company has a market cap of $160.49 billion, a P/E ratio of 22.62, and a beta of 1.10, with 50-day and 200-day moving averages of $257.37 and $238.75, respectively.
Earnings Report
Lowe’s reported $4.10 EPS for the last quarter, beating expectations of $3.96. The net margin was 8.25%, but revenue was down 5.5% year-over-year at $23.59 billion, slightly below the expected $23.93 billion. Analysts project an EPS of 11.91 for the year.
Dividend Increase
The company announced a quarterly dividend of $1.15 per share, payable on November 6th, with a record date of October 23rd. This increases the annual dividend to $4.60, giving a yield of 1.63% and a payout ratio of 36.95%.
Analyst Ratings
Recent analyst reports include a “buy” rating and a $290 price target from Melius Research, and UBS raised their target to the same price. Telsey has a $275 target, while Gordon Haskett and Morgan Stanley made minor adjustments. Overall, there are 14 buy ratings and 11 hold ratings, with a consensus rating of “Moderate Buy” and an average target price of $268.42.
Insider Transactions
Insider activity includes Dan Clayton Griggs, Jr., selling 6,769 shares for $1.68 million, and Margrethe R. Vagell selling 5,730 shares for $1.56 million. Insiders own 0.26% of the company.
About Lowe’s Companies
Lowe’s Companies, Inc. operates as a home improvement retailer, offering a range of products for construction, maintenance, repairs, and decoration.
See Also
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