Recent changes in ownership of Lowe’s Companies stock include several institutional investors. Bamco Inc. NY increased its shares by 10.3%, totaling 216,958 shares worth $55.27 million. Plato Investment Management Ltd raised its stake by 655.9% to 6,304 shares worth $1.61 million. Lincoln National Corp increased by 1.5% to 11,128 shares worth $2.84 million. Daymark Wealth Partners LLC grew its stake by 12.7% to 25,569 shares worth $5.64 million, while AMF Tjanstepension AB increased their stake by 14.4% to 159,742 shares worth $43.29 million. Overall, 74.06% of the stock is owned by institutional investors and hedge funds.
Lowe’s Companies Trading Update
NYSE:LOW opened at $281.64 on Monday, with a 12-month low of $181.85 and a high of $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. Its 50-day and 200-day moving averages are $257.37 and $238.75, respectively.
Lowe’s reported earnings of $4.10 per share on August 20, exceeding analysts’ estimates of $3.96. Their revenue was $23.59 billion, lower than the expected $23.93 billion, with a year-over-year revenue decline of 5.5%. Analysts forecast earnings of $11.91 per share for the current year.
Dividend Announcement
The company announced a quarterly dividend of $1.15 per share, payable on November 6th to shareholders recorded by October 23rd. This is an increase from the previous dividend of $0.15, representing an annual yield of 1.63%, with a payout ratio of 36.95%.
Analyst Ratings
Analysts have recently given varied ratings on Lowe’s. Melius Research rated it a “buy” with a price target of $290. UBS raised its target to $290 with a “buy” rating. Telsey Advisory Group increased its target to $275 with a “market perform” rating. Eleven analysts rated it a hold and fourteen a buy, with a consensus rating of “Moderate Buy” and an average target price of $268.42.
Insider Trading
CAO Dan Clayton Griggs, Jr. sold 6,769 shares at $248.82, totaling about $1.68 million, leaving him with 9,383 shares. EVP Margrethe R. Vagell sold 5,730 shares at $271.45, valued at approximately $1.56 million. Insiders own 0.26% of Lowe’s stock.
About Lowe’s Companies
Lowe’s Companies, Inc. operates a home improvement retail business in the U.S., offering products for construction, maintenance, repair, and home improvement.
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