SSI Investment Management LLC Acquires New Position in Lowe’s Companies, Inc. (NYSE:LOW)

SSI Investment Management LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, HoldingsChannel.com reports. The firm bought 855 shares of the home improvement retailer’s stock, valued at approximately $232,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BNP PARIBAS ASSET MANAGEMENT Holding S.A. raised its stake in Lowe’s Companies by 1.0% during the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 241,546 shares of the home improvement retailer’s stock valued at $65,422,000 after acquiring an additional 2,324 shares during the last quarter. Cornerstone Advisors LLC grew its holdings in Lowe’s Companies by 1.1% during the third quarter. Cornerstone Advisors LLC now owns 27,300 shares of the home improvement retailer’s stock worth $7,394,000 after acquiring an additional 300 shares during the period. Citizens Financial Group Inc. RI raised its position in Lowe’s Companies by 6.2% in the third quarter. Citizens Financial Group Inc. RI now owns 20,757 shares of the home improvement retailer’s stock worth $5,622,000 after acquiring an additional 1,219 shares in the last quarter. EagleClaw Capital Managment LLC lifted its holdings in Lowe’s Companies by 3.9% in the third quarter. EagleClaw Capital Managment LLC now owns 34,172 shares of the home improvement retailer’s stock valued at $9,255,000 after acquiring an additional 1,295 shares during the period. Finally, Darwin Wealth Management LLC purchased a new stake in Lowe’s Companies during the third quarter worth about $661,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have commented on LOW. Melius Research assumed coverage on Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price on the stock. Piper Sandler lifted their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Evercore ISI boosted their target price on shares of Lowe’s Companies from $255.00 to $270.00 and gave the company an “in-line” rating in a report on Wednesday. Gordon Haskett cut their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Finally, Mizuho lifted their price target on shares of Lowe’s Companies from $280.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $277.92.

Lowe’s Companies Stock Up 1.5 %

Shares of Lowe’s Companies stock opened at $263.03 on Thursday. The stock has a market cap of $149.21 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The business has a fifty day simple moving average of $268.29 and a 200 day simple moving average of $244.36. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the prior year, the business earned $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. Analysts expect that Lowe’s Companies, Inc. will post 11.82 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

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.