Lafayette Investments Inc. Boosts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Lafayette Investments Inc. boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 165.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 54,362 shares of the home improvement retailer’s stock after buying an additional 33,868 shares during the quarter. Lowe’s Companies comprises 3.4% of Lafayette Investments Inc.’s investment portfolio, making the stock its 5th largest holding. Lafayette Investments Inc.’s holdings in Lowe’s Companies were worth $9,016,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of LOW. APG Asset Management N.V. boosted its holdings in Lowe’s Companies by 10.5% during the first quarter. APG Asset Management N.V. now owns 2,257,388 shares of the home improvement retailer’s stock worth $194,248,000 after buying an additional 214,997 shares during the last quarter. State Street Corp lifted its holdings in shares of Lowe’s Companies by 2.7% during the 1st quarter. State Street Corp now owns 35,413,724 shares of the home improvement retailer’s stock valued at $3,047,351,000 after purchasing an additional 922,369 shares in the last quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC lifted its holdings in shares of Lowe’s Companies by 57.8% during the 2nd quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 478 shares of the home improvement retailer’s stock valued at $64,000 after purchasing an additional 175 shares in the last quarter. Fulton Bank N. A. lifted its holdings in shares of Lowe’s Companies by 12.0% during the 2nd quarter. Fulton Bank N. A. now owns 17,314 shares of the home improvement retailer’s stock valued at $2,340,000 after purchasing an additional 1,858 shares in the last quarter. Finally, Marotta Asset Management bought a new position in shares of Lowe’s Companies during the 2nd quarter valued at about $228,000. Institutional investors and hedge funds own 74.63% of the company’s stock.

LOW opened at $160.23 on Tuesday. The stock’s fifty day simple moving average is $166.98 and its 200 day simple moving average is $142.19. Lowe’s Companies, Inc. has a 1-year low of $60.00 and a 1-year high of $180.67. The stock has a market cap of $121.09 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 1.24 and a beta of 1.48. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 4.64.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, August 19th. The home improvement retailer reported $3.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.95 by $0.80. The company had revenue of $27.30 billion for the quarter, compared to analyst estimates of $24.24 billion. Lowe’s Companies had a net margin of 7.12% and a return on equity of 228.17%. The company’s revenue was up 30.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.15 earnings per share. Equities analysts forecast that Lowe’s Companies, Inc. will post 8.51 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 4th. Stockholders of record on Wednesday, October 21st will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Tuesday, October 20th. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.55. Lowe’s Companies’s dividend payout ratio (DPR) is currently 41.96%.

Several research firms have recently weighed in on LOW. Truist Securiti lifted their price objective on Lowe’s Companies from $135.00 to $178.00 in a report on Wednesday, August 12th. DA Davidson lifted their price objective on Lowe’s Companies from $180.00 to $185.00 in a report on Thursday, August 20th. Wells Fargo & Company lifted their target price on Lowe’s Companies from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Jefferies Financial Group lifted their target price on Lowe’s Companies from $193.00 to $205.00 in a research report on Wednesday, August 26th. Finally, Loop Capital lifted their target price on Lowe’s Companies from $180.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, September 23rd. They noted that the move was a valuation call. Four investment analysts have rated the stock with a hold rating, twenty-seven have issued a buy rating and one has given a strong buy rating to the stock. Lowe’s Companies presently has an average rating of “Buy” and a consensus price target of $169.16.

In other news, EVP Ross W. Mccanless sold 62,838 shares of the firm’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $168.33, for a total transaction of $10,577,520.54. Following the completion of the sale, the executive vice president now owns 72,967 shares in the company, valued at approximately $12,282,535.11. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.07% of the company’s stock.

Lowe’s Companies Company Profile

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 appliances, décor, paint, hardware, millwork, lawn and garden, lighting, lumber and building materials, flooring, kitchens and bath, rough plumbing and electrical, seasonal and outdoor living, and tools.

Further Reading: What is Green Investing?

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

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