Lowe's Companies, Inc. (NYSE:LOW) Stock Position Lifted by Metis Global Partners LLC

Financial News Live · Feb 4, 2023 05:21

Metis Global Partners LLC boosted its stake in shares of Lowe's Companies, Inc. (NYSE:LOW – Get Rating) by 7.7% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,888 shares of the home improvement retailer's stock after purchasing an additional 850 shares during the period. Metis Global Partners LLC's holdings in Lowe's Companies were worth $2,233,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Dillon & Associates Inc. lifted its stake in Lowe's Companies by 1.4% in the third quarter. Dillon & Associates Inc. now owns 88,484 shares of the home improvement retailer's stock valued at $16,635,000 after acquiring an additional 1,185 shares during the last quarter. Legacy Financial Strategies LLC lifted its stake in Lowe's Companies by 11.3% in the third quarter. Legacy Financial Strategies LLC now owns 9,712 shares of the home improvement retailer's stock valued at $1,824,000 after acquiring an additional 984 shares during the last quarter. Valley National Advisers Inc. lifted its stake in Lowe's Companies by 15.3% in the third quarter. Valley National Advisers Inc. now owns 7,104 shares of the home improvement retailer's stock valued at $1,372,000 after acquiring an additional 941 shares during the last quarter. Bull Street Advisors LLC acquired a new stake in Lowe's Companies in the third quarter valued at approximately $211,000. Finally, IFP Advisors Inc lifted its stake in Lowe's Companies by 13.0% in the third quarter. IFP Advisors Inc now owns 25,773 shares of the home improvement retailer's stock valued at $2,251,000 after acquiring an additional 2,957 shares during the last quarter. 72.62% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

LOW has been the subject of a number of analyst reports. Piper Sandler lifted their target price on shares of Lowe's Companies from $248.00 to $253.00 and gave the company an "overweight" rating in a research note on Thursday, November 17th. Wedbush boosted their price objective on shares of Lowe's Companies from $190.00 to $200.00 and gave the stock a "neutral" rating in a research note on Thursday, December 8th. StockNews.com upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Friday, January 13th. Morgan Stanley reduced their price objective on shares of Lowe's Companies from $270.00 to $235.00 and set an "overweight" rating for the company in a research note on Tuesday, January 17th. Finally, MKM Partners dropped their target price on shares of Lowe's Companies from $220.00 to $205.00 in a research report on Wednesday, November 9th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $229.12.

Lowe's Companies Price Performance

Shares of LOW traded down $5.34 during trading hours on Friday, hitting $216.22. The stock had a trading volume of 1,562,713 shares, compared to its average volume of 2,967,535. The company's fifty day moving average is $205.66 and its two-hundred day moving average is $199.94. Lowe's Companies, Inc. has a 52 week low of $170.12 and a 52 week high of $238.37. The stock has a market capitalization of $134.21 billion, a price-to-earnings ratio of 21.40, a P/E/G ratio of 1.15 and a beta of 1.13.

Lowe's Companies (NYSE:LOW – Get Rating) last posted its earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.16. Lowe's Companies had a net margin of 6.97% and a negative return on equity of 103.72%. The business had revenue of $23.48 billion for the quarter, compared to analyst estimates of $23.16 billion. During the same quarter in the prior year, the firm earned $2.73 EPS. The firm's quarterly revenue was up 2.4% compared to the same quarter last year. Equities analysts predict that Lowe's Companies, Inc. will post 13.73 EPS for the current fiscal year.

Lowe's Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 8th. Investors of record on Wednesday, January 25th will be given a dividend of $1.05 per share. The ex-dividend date is Tuesday, January 24th. This represents a $4.20 annualized dividend and a yield of 1.94%. Lowe's Companies's dividend payout ratio (DPR) is 41.14%.

Insider Buying and Selling

In related news, EVP Ross W. Mccanless sold 57,629 shares of the company's stock in a transaction dated Tuesday, December 13th. The shares were sold at an average price of $211.35, for a total transaction of $12,179,889.15. Following the transaction, the executive vice president now owns 26,923 shares in the company, valued at approximately $5,690,176.05. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.

Lowe's Companies Company Profile

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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.