Several institutional investors have changed their stakes in Lowe’s Companies. Bamco Inc. increased its holdings by 10.3%, now owning 216,958 shares worth $55.27 million after adding 20,181 shares. Plato Investment Management raised its stake by 655.9%, acquiring 5,470 shares for a total of 6,304 shares valued at $1.61 million. Lincoln National Corp’s stake grew by 1.5%, bringing its total to 11,128 shares valued at $2.84 million. Daymark Wealth Partners upped its stake by 12.7%, now owning 25,569 shares worth $5.64 million after acquiring 2,889 shares. AMF Tjanstepension AB increased its position by 14.4%, owning 159,742 shares valued at $43.29 million after buying 20,123 shares. Overall, institutional investors and hedge funds own 74.06% of the stock.
Lowe’s Shares Rise 0.1%
NYSE:LOW opened at $281.64. Lowe’s has a twelve-month low of $181.85 and a high of $287.01, with a market cap of $160.49 billion, a P/E ratio of 22.62, and a beta of 1.10. Its 50-day moving average is $257.37, and the 200-day is $238.75.
Lowe’s reported quarterly earnings on August 20, posting $4.10 EPS, exceeding estimates of $3.96. The company’s revenue was $23.59 billion, slightly below the $23.93 billion expected. Year-over-year, revenue fell by 5.5%. Analysts predict an EPS of 11.91 for the current year.
Lowe’s Increases Dividend
Lowe’s announced a quarterly dividend of $1.15 per share, payable on November 6. Record shareholders as of October 23 will receive this payment, up from the previous dividend of $0.15, giving an annualized dividend of $4.60 and a yield of 1.63%. The current dividend payout ratio is 36.95%.
Analyst Ratings
Recent analyst ratings for Lowe’s include a “buy” from Melius Research with a $290 target. UBS and Telsey Advisory also increased their price targets to $290 and $275, respectively. Gordon Haskett downgraded from $245 to $240, while Morgan Stanley raised its target to $255. Overall, analysts rate Lowe’s as a “Moderate Buy” with an average target price of $268.42.
Check Out Our Latest Analysis on LOW
Insider Transactions
CAO Dan Clayton Griggs, Jr. sold 6,769 shares on September 12 for $1.68 million, now owning 9,383 shares valued at $2.33 million. EVP Margrethe R. Vagell sold 5,730 shares on October 2, totaling $1.56 million, with 13,214 shares valued at $3.59 million left. Insiders hold 0.26% of the company.
About Lowe’s Companies
Lowe’s Companies, Inc. operates as a home improvement retailer in the U.S., offering products for construction, maintenance, and decor.
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