Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Bamco Inc. NY

Bamco Inc. NY boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 216,958 shares of the home improvement retailer’s stock after purchasing an additional 20,181 shares during the period. Bamco Inc. NY’s holdings in Lowe’s Companies were worth $55,266,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Norges Bank acquired a new position in shares of Lowe’s Companies during the 4th quarter worth $1,638,746,000. Vanguard Group Inc. grew its stake in Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after buying an additional 2,674,372 shares during the last quarter. International Assets Investment Management LLC acquired a new position in Lowe’s Companies in the 4th quarter valued at $430,090,000. Canoe Financial LP acquired a new position in Lowe’s Companies in the 4th quarter valued at $206,912,000. Finally, M&G Plc acquired a new position in Lowe’s Companies in the 1st quarter valued at $217,995,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 1.7 %

NYSE LOW traded up $4.10 during trading on Friday, reaching $238.87. The company’s stock had a trading volume of 1,942,530 shares, compared to its average volume of 2,878,763. The firm has a market capitalization of $136.12 billion, a price-to-earnings ratio of 19.19, a price-to-earnings-growth ratio of 1.83 and a beta of 1.08. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The firm has a 50 day moving average price of $223.92 and a 200 day moving average price of $229.53.

Lowe’s Companies (NYSE:LOW) last posted 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. The firm had revenue of $21.36 billion during the quarter, compared to the consensus estimate of $21.14 billion. Lowe’s Companies had a net margin of 8.46% and a negative return on equity of 48.52%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.67 EPS. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 12.23 EPS for the current fiscal year.

Lowe’s Companies Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 7th. Stockholders of record on Wednesday, July 24th will be issued a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.25%. The ex-dividend date is Wednesday, July 24th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Analysts Set New Price Targets

A number of research firms recently issued reports on LOW. Royal Bank of Canada reiterated a “sector perform” rating and issued a $246.00 target price on shares of Lowe’s Companies in a research note on Wednesday, May 22nd. Zelman & Associates reissued a “neutral” rating and issued a $265.00 price target on shares of Lowe’s Companies in a report on Tuesday, April 2nd. Gordon Haskett reissued a “hold” rating and issued a $245.00 price target on shares of Lowe’s Companies in a report on Wednesday, April 3rd. Truist Financial reduced their price target on shares of Lowe’s Companies from $271.00 to $265.00 and set a “buy” rating for the company in a report on Wednesday, May 22nd. Finally, DA Davidson reduced their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a report on Wednesday, May 22nd. Fifteen equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $250.04.

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.