York Capital Management Global Advisors LLC purchased a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 192,660 shares of the home improvement retailer’s stock, valued at approximately $23,073,000. Lowe’s Companies makes up about 1.3% of York Capital Management Global Advisors LLC’s investment portfolio, making the stock its 15th largest holding.
A number of other large investors have also recently added to or reduced their stakes in LOW. Ilmarinen Mutual Pension Insurance Co acquired a new stake in Lowe’s Companies in the third quarter valued at $10,996,000. Colony Group LLC grew its holdings in shares of Lowe’s Companies by 15.6% during the third quarter. Colony Group LLC now owns 210,427 shares of the home improvement retailer’s stock worth $23,139,000 after purchasing an additional 28,376 shares during the last quarter. Voya Financial Advisors Inc. grew its holdings in shares of Lowe’s Companies by 4.2% during the third quarter. Voya Financial Advisors Inc. now owns 85,330 shares of the home improvement retailer’s stock worth $9,347,000 after purchasing an additional 3,466 shares during the last quarter. Redpoint Investment Management Pty Ltd grew its holdings in shares of Lowe’s Companies by 0.7% during the third quarter. Redpoint Investment Management Pty Ltd now owns 53,445 shares of the home improvement retailer’s stock worth $5,877,000 after purchasing an additional 377 shares during the last quarter. Finally, Cypress Capital LLC grew its holdings in shares of Lowe’s Companies by 11.3% during the third quarter. Cypress Capital LLC now owns 7,262 shares of the home improvement retailer’s stock worth $799,000 after purchasing an additional 738 shares during the last quarter. Institutional investors own 75.15% of the company’s stock.
LOW has been the topic of a number of research reports. Jefferies Financial Group raised their price target on Lowe’s Companies from $141.00 to $143.00 and gave the stock a “buy” rating in a report on Tuesday, January 7th. Telsey Advisory Group reissued an “outperform” rating on shares of Lowe’s Companies in a report on Friday, February 21st. SunTrust Banks reissued a “buy” rating and set a $135.00 price target on shares of Lowe’s Companies in a report on Wednesday, February 26th. Piper Sandler lowered their price target on Lowe’s Companies from $153.00 to $147.00 and set an “overweight” rating on the stock in a report on Thursday, February 27th. Finally, Wolfe Research raised Lowe’s Companies from a “peer perform” rating to an “outperform” rating in a report on Wednesday. Six investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the stock. Lowe’s Companies has an average rating of “Buy” and an average price target of $126.28.
Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Wednesday, February 26th. The home improvement retailer reported $0.94 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.03. Lowe’s Companies had a net margin of 5.93% and a return on equity of 173.56%. The company had revenue of $16.03 billion during the quarter, compared to the consensus estimate of $16.13 billion. During the same period last year, the firm earned $0.80 EPS. The company’s revenue for the quarter was up 2.4% on a year-over-year basis. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 6.51 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd will be paid a $0.55 dividend. The ex-dividend date of this dividend is Tuesday, April 21st. This represents a $2.20 annualized dividend and a yield of 2.63%. Lowe’s Companies’s payout ratio is currently 38.46%.
In other news, CEO Marvin R. Ellison bought 10,000 shares of the stock in a transaction on Friday, March 6th. The stock was purchased at an average cost of $103.86 per share, with a total value of $1,038,600.00. Following the purchase, the chief executive officer now owns 90,090 shares of the company’s stock, valued at $9,356,747.40. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.07% of the stock is currently owned by insiders.
About Lowe’s Companies
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.
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