Redpoint Investment Management Pty Ltd Grows Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Redpoint Investment Management Pty Ltd grew its position in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 3.1% during the 1st quarter, Holdings Channel.com reports. The firm owned 17,246 shares of the home improvement retailer’s stock after purchasing an additional 523 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Lowe’s Companies were worth $3,487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. Dark Forest Capital Management LP purchased a new position in Lowe’s Companies in the third quarter worth $151,000. Cetera Advisors LLC grew its holdings in Lowe’s Companies by 8.7% in the third quarter. Cetera Advisors LLC now owns 24,615 shares of the home improvement retailer’s stock worth $4,993,000 after purchasing an additional 1,969 shares during the last quarter. Easterly Investment Partners LLC grew its holdings in shares of Lowe’s Companies by 1,007.3% during the third quarter. Easterly Investment Partners LLC now owns 23,254 shares of the home improvement retailer’s stock valued at $4,717,000 after buying an additional 21,154 shares during the last quarter. Summit Trail Advisors LLC grew its holdings in shares of Lowe’s Companies by 15.8% during the third quarter. Summit Trail Advisors LLC now owns 1,753 shares of the home improvement retailer’s stock valued at $356,000 after buying an additional 239 shares during the last quarter. Finally, Willis Investment Counsel grew its holdings in shares of Lowe’s Companies by 17.2% during the third quarter. Willis Investment Counsel now owns 89,800 shares of the home improvement retailer’s stock valued at $18,217,000 after buying an additional 13,183 shares during the last quarter. 75.46% of the stock is currently owned by institutional investors and hedge funds.

Shares of Lowe’s Companies stock traded up $1.43 during trading hours on Thursday, reaching $175.03. The stock had a trading volume of 27,421 shares, compared to its average volume of 3,495,270. The stock’s 50 day moving average is $192.47 and its 200 day moving average is $218.73. The firm has a market capitalization of $111.87 billion, a PE ratio of 14.15, a PEG ratio of 1.02 and a beta of 1.25. Lowe’s Companies, Inc. has a twelve month low of $170.12 and a twelve month high of $263.31.

Lowe’s Companies (NYSE:LOW – Get Rating) last issued its quarterly earnings data on Wednesday, May 18th. The home improvement retailer reported $3.51 earnings per share for the quarter, topping analysts’ consensus estimates of $3.22 by $0.29. The business had revenue of $23.66 billion during the quarter, compared to the consensus estimate of $23.72 billion. Lowe’s Companies had a net margin of 8.85% and a negative return on equity of 251.50%. The company’s revenue was down 3.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.21 earnings per share. On average, analysts forecast that Lowe’s Companies, Inc. will post 13.49 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 3rd. Investors of record on Wednesday, July 20th will be paid a dividend of $1.05 per share. This represents a $4.20 annualized dividend and a yield of 2.40%. The ex-dividend date of this dividend is Tuesday, July 19th. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.80. Lowe’s Companies’s dividend payout ratio is currently 26.08%.

A number of brokerages have recently weighed in on LOW. Citigroup dropped their price objective on shares of Lowe’s Companies from $292.00 to $222.00 in a report on Friday, May 13th. Telsey Advisory Group boosted their price objective on shares of Lowe’s Companies from $275.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, February 24th. OTR Global lowered shares of Lowe’s Companies to a “positive” rating in a report on Tuesday, May 10th. Truist Financial dropped their price objective on shares of Lowe’s Companies from $283.00 to $237.00 and set a “buy” rating on the stock in a report on Thursday, May 19th. Finally, MKM Partners started coverage on shares of Lowe’s Companies in a report on Thursday. They set a “neutral” rating and a $190.00 price objective on the stock. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $240.16.

Lowe’s Companies Company Profile (Get Rating)

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodeling, 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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