Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Man Group plc

Man Group plc increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 21.4% during the 4th quarter, Holdings Channel.com reports. The fund owned 125,991 shares of the home improvement retailer’s stock after purchasing an additional 22,171 shares during the quarter. Man Group plc’s holdings in Lowe’s Companies were worth $31,095,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. IFS Advisors LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter worth about $25,000. Marshall Investment Management LLC purchased a new stake in shares of Lowe’s Companies in the 4th quarter valued at about $31,000. Winch Advisory Services LLC boosted its position in shares of Lowe’s Companies by 56.4% in the 4th quarter. Winch Advisory Services LLC now owns 122 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 44 shares during the period. Caisse Des Depots ET Consignations purchased a new position in Lowe’s Companies during the 4th quarter worth approximately $33,000. Finally, Measured Risk Portfolios Inc. acquired a new position in Lowe’s Companies during the fourth quarter worth approximately $42,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on LOW shares. Royal Bank of Canada reduced their price objective on Lowe’s Companies from $292.00 to $285.00 and set a “sector perform” rating for the company in a research note on Thursday, February 27th. Citigroup reiterated a “neutral” rating and set a $253.00 price target (down previously from $269.00) on shares of Lowe’s Companies in a research note on Wednesday. Truist Financial lowered their price objective on shares of Lowe’s Companies from $295.00 to $258.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. JPMorgan Chase & Co. reduced their target price on shares of Lowe’s Companies from $300.00 to $263.00 and set an “overweight” rating for the company in a report on Tuesday, May 6th. Finally, Telsey Advisory Group reissued an “outperform” rating and set a $305.00 price target on shares of Lowe’s Companies in a report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $277.00.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $232.33 on Friday. Lowe’s Companies, Inc. has a one year low of $206.39 and a one year high of $287.01. The firm has a market capitalization of $130.04 billion, a P/E ratio of 19.38, a PEG ratio of 1.96 and a beta of 1.00. The company’s fifty day moving average is $224.31 and its two-hundred day moving average is $246.13.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Wednesday, February 26th. The home improvement retailer reported $1.93 EPS for the quarter, beating the consensus estimate of $1.83 by $0.10. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $18.55 billion during the quarter, compared to analysts’ expectations of $18.29 billion. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 7th. Investors of record on Wednesday, April 23rd were issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend was Wednesday, April 23rd. Lowe’s Companies’s dividend payout ratio is currently 37.67%.

Lowe’s Companies Profile

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.