Penserra Capital Management LLC Has $1.61 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Penserra Capital Management LLC lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.7% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,957 shares of the home improvement retailer’s stock after selling 166 shares during the quarter. Penserra Capital Management LLC’s holdings in Lowe’s Companies were worth $1,612,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Plato Investment Management Ltd grew its position in shares of Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares during the period. StoneX Group Inc. bought a new stake in shares of Lowe’s Companies during the third quarter worth $2,713,000. HM Payson & Co. raised its holdings in shares of Lowe’s Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after acquiring an additional 2,322 shares during the period. Daymark Wealth Partners LLC lifted its position in Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its stake in Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after purchasing an additional 20,123 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Performance

NYSE LOW opened at $274.48 on Wednesday. Lowe’s Companies, Inc. has a 52-week low of $196.32 and a 52-week high of $287.01. The stock has a market cap of $155.71 billion, a PE ratio of 22.89, a P/E/G ratio of 2.22 and a beta of 1.10. The firm has a 50-day moving average of $269.47 and a 200-day moving average of $245.47.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.68%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Truist Financial lifted their price target on Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. Bank of America boosted their target price on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Evercore ISI boosted their price objective on shares of Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a research report on Wednesday, November 20th. Finally, Royal Bank of Canada raised their target price on shares of Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Insider Activity

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 41.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Lowe’s Companies Company 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.