M&G Plc Invests $218 Million in Lowe’s Companies, Inc. (NYSE:LOW)

M&G Plc purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 854,881 shares of the home improvement retailer’s stock, valued at approximately $217,995,000. Lowe’s Companies comprises 1.3% of M&G Plc’s investment portfolio, making the stock its 14th biggest position. M&G Plc owned 0.15% of Lowe’s Companies as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Wetzel Investment Advisors Inc. purchased a new stake in Lowe’s Companies during the fourth quarter valued at $25,000. Tidemark LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at $27,000. Voisard Asset Management Group Inc. purchased a new stake in Lowe’s Companies during the fourth quarter valued at $28,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at $31,000. Finally, Pacific Capital Wealth Advisors Inc. purchased a new stake in Lowe’s Companies during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.4 %

Shares of NYSE:LOW traded down $0.85 during mid-day trading on Friday, reaching $238.52. The stock had a trading volume of 2,739,484 shares, compared to its average volume of 3,083,458. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The business’s 50 day moving average price is $223.52 and its 200 day moving average price is $228.60. The company has a market cap of $135.92 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 1.83 and a beta of 1.08.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.94 by $0.12. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The business had revenue of $21.36 billion for the quarter, compared to the consensus estimate of $21.14 billion. During the same period in the prior year, the business posted $3.67 earnings per share. The company’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts predict that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be given a dividend of $0.15 per share. The ex-dividend date is Wednesday, July 24th. This represents a $0.60 dividend on an annualized basis and a yield of 0.25%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 35.34%.

Analyst Ratings Changes

A number of analysts recently commented on the company. Truist Financial reduced their price objective on Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a research report on Wednesday, May 22nd. Citigroup cut their price target on Lowe’s Companies from $243.00 to $240.00 and set a “neutral” rating for the company in a report on Tuesday, May 7th. Wedbush reissued a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, May 22nd. Evercore ISI cut their price target on Lowe’s Companies from $250.00 to $225.00 and set an “in-line” rating for the company in a report on Tuesday, July 2nd. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday. Fourteen research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $250.04.

About Lowe’s Companies

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.