Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by SFE Investment Counsel

SFE Investment Counsel increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 48,511 shares of the home improvement retailer’s stock after purchasing an additional 1,243 shares during the period. Lowe’s Companies accounts for about 2.4% of SFE Investment Counsel’s holdings, making the stock its 12th biggest holding. SFE Investment Counsel’s holdings in Lowe’s Companies were worth $10,695,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of Lowe’s Companies in the 4th quarter valued at about $1,638,746,000. Vanguard Group Inc. increased its position in Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Canoe Financial LP acquired a new stake in Lowe’s Companies during the fourth quarter worth approximately $206,912,000. M&G Plc purchased a new stake in Lowe’s Companies in the 1st quarter valued at about $217,995,000. Finally, Pathstone Holdings LLC purchased a new position in shares of Lowe’s Companies during the 4th quarter worth about $126,615,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Truist Financial lifted their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Telsey Advisory Group restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Finally, Evercore ISI boosted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $252.83.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $243.78 on Friday. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The firm has a market capitalization of $138.91 billion, a PE ratio of 19.58, a price-to-earnings-growth ratio of 2.04 and a beta of 1.07. The stock has a fifty day moving average of $236.53 and a two-hundred day moving average of $234.09.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the firm posted $4.56 earnings per share. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.89%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.