Premier Fund Managers Ltd Increases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Premier Fund Managers Ltd lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 298,839 shares of the home improvement retailer’s stock after purchasing an additional 2,307 shares during the period. Lowe’s Companies accounts for approximately 2.0% of Premier Fund Managers Ltd’s investment portfolio, making the stock its 4th biggest holding. Premier Fund Managers Ltd’s holdings in Lowe’s Companies were worth $61,900,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Camden National Bank increased its stake in shares of Lowe’s Companies by 17.1% in the 4th quarter. Camden National Bank now owns 2,291 shares of the home improvement retailer’s stock valued at $368,000 after purchasing an additional 335 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp increased its stake in shares of Lowe’s Companies by 12.3% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 135,217 shares of the home improvement retailer’s stock valued at $26,228,000 after purchasing an additional 14,857 shares during the last quarter. WINTON GROUP Ltd increased its stake in shares of Lowe’s Companies by 47.6% in the 2nd quarter. WINTON GROUP Ltd now owns 3,873 shares of the home improvement retailer’s stock valued at $751,000 after purchasing an additional 1,249 shares during the last quarter. Van ECK Associates Corp increased its stake in shares of Lowe’s Companies by 15.6% in the 2nd quarter. Van ECK Associates Corp now owns 78,403 shares of the home improvement retailer’s stock valued at $15,208,000 after purchasing an additional 10,609 shares during the last quarter. Finally, Smith Moore & CO. increased its stake in shares of Lowe’s Companies by 16.1% in the 2nd quarter. Smith Moore & CO. now owns 3,439 shares of the home improvement retailer’s stock valued at $667,000 after purchasing an additional 477 shares during the last quarter. Hedge funds and other institutional investors own 74.17% of the company’s stock.

Lowe’s Companies stock traded down $7.25 during midday trading on Friday, reaching $243.45. The stock had a trading volume of 118,563 shares, compared to its average volume of 3,358,986. Lowe’s Companies, Inc. has a 12 month low of $150.84 and a 12 month high of $263.31. The company has a market capitalization of $164.02 billion, a P/E ratio of 21.14, a PEG ratio of 1.53 and a beta of 1.31. The company has a fifty day moving average price of $249.51 and a two-hundred day moving average price of $220.37. The company has a current ratio of 1.19, a quick ratio of 0.39 and a debt-to-equity ratio of 49.23.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, November 17th. The home improvement retailer reported $2.73 EPS for the quarter, beating analysts’ consensus estimates of $2.35 by $0.38. Lowe’s Companies had a return on equity of 25,100.30% and a net margin of 8.63%. The business had revenue of $22.92 billion during the quarter, compared to analyst estimates of $22.06 billion. During the same period in the previous year, the company posted $1.98 EPS. The firm’s revenue was up 2.7% compared to the same quarter last year. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 2nd. Shareholders of record on Wednesday, January 19th will be issued a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Tuesday, January 18th. Lowe’s Companies’s dividend payout ratio is currently 27.80%.

Lowe’s Companies announced that its Board of Directors has approved a share repurchase program on Wednesday, December 15th that authorizes the company to buyback $13.00 billion in shares. This buyback authorization authorizes the home improvement retailer to purchase up to 7.6% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Several research firms recently weighed in on LOW. DA Davidson raised their price objective on Lowe’s Companies from $286.00 to $292.00 in a report on Thursday, December 30th. Truist Securities raised their price objective on Lowe’s Companies from $217.00 to $284.00 and gave the company a “buy” rating in a report on Thursday, November 18th. Wells Fargo & Company raised their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Monday, December 13th. Wedbush raised their price objective on Lowe’s Companies from $210.00 to $260.00 and gave the company a “neutral” rating in a report on Thursday, November 18th. Finally, Telsey Advisory Group raised their price objective on Lowe’s Companies from $250.00 to $275.00 and gave the company an “outperform” rating in a report on Thursday, November 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Buy” and a consensus target price of $258.71.

About Lowe’s Companies

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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