Community Bank N.A. Raises Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Community Bank N.A. grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 63.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,715 shares of the home improvement retailer’s stock after purchasing an additional 9,952 shares during the quarter. Community Bank N.A.’s holdings in Lowe’s Companies were worth $3,475,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of LOW. State Street Corp lifted its stake in Lowe’s Companies by 2.7% in the first quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock worth $3,047,351,000 after acquiring an additional 922,369 shares during the period. Geode Capital Management LLC lifted its stake in Lowe’s Companies by 0.5% in the first quarter. Geode Capital Management LLC now owns 10,403,533 shares of the home improvement retailer’s stock worth $893,464,000 after acquiring an additional 47,959 shares during the period. Nuveen Asset Management LLC lifted its stake in Lowe’s Companies by 31.7% in the first quarter. Nuveen Asset Management LLC now owns 8,170,002 shares of the home improvement retailer’s stock worth $703,029,000 after acquiring an additional 1,966,342 shares during the period. Bank of New York Mellon Corp lifted its stake in Lowe’s Companies by 26.9% in the first quarter. Bank of New York Mellon Corp now owns 7,782,725 shares of the home improvement retailer’s stock worth $669,704,000 after acquiring an additional 1,647,977 shares during the period. Finally, Viking Global Investors LP raised its holdings in Lowe’s Companies by 23.6% in the first quarter. Viking Global Investors LP now owns 5,470,144 shares of the home improvement retailer’s stock worth $470,706,000 after purchasing an additional 1,045,758 shares in the last quarter. 74.49% of the stock is owned by hedge funds and other institutional investors.

A number of equities analysts have commented on LOW shares. Royal Bank of Canada boosted their target price on shares of Lowe’s Companies from $136.00 to $165.00 in a report on Friday, July 24th. Bank of America boosted their target price on shares of Lowe’s Companies from $143.00 to $150.00 and gave the stock a “buy” rating in a report on Friday, June 12th. Piper Sandler boosted their target price on shares of Lowe’s Companies from $154.00 to $170.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. SunTrust Banks boosted their target price on shares of Lowe’s Companies from $115.00 to $135.00 and gave the stock a “buy” rating in a report on Thursday, May 21st. Finally, Morgan Stanley boosted their target price on shares of Lowe’s Companies from $142.00 to $150.00 and gave the stock an “overweight” rating in a report on Thursday, July 16th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-eight have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $140.86.

Shares of NYSE:LOW traded down $0.29 during midday trading on Friday, reaching $148.91. 3,928,596 shares of the company’s stock traded hands, compared to its average volume of 3,264,570. Lowe’s Companies, Inc. has a 1 year low of $60.00 and a 1 year high of $149.92. The company has a market cap of $112.65 billion, a P/E ratio of 25.15, a PEG ratio of 1.42 and a beta of 1.44. The company has a debt-to-equity ratio of 14.05, a quick ratio of 0.42 and a current ratio of 1.20. The company has a fifty day simple moving average of $137.36 and a two-hundred day simple moving average of $116.11.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, May 20th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.32 by $0.45. Lowe’s Companies had a return on equity of 220.44% and a net margin of 6.17%. The firm had revenue of $19.68 billion for the quarter, compared to analyst estimates of $18.33 billion. During the same quarter last year, the firm posted $1.22 EPS. The business’s revenue was up 10.9% on a year-over-year basis. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 6.74 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd will be given a dividend of $0.55 per share. The ex-dividend date is Tuesday, July 21st. This represents a $2.20 dividend on an annualized basis and a dividend yield of 1.48%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.46%.

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.

Further Reading: Bond

Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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