GAM Holding AG Takes $1.92 Million Position in Lowe’s Companies, Inc. $LOW

GAM Holding AG bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 7,637 shares of the home improvement retailer’s stock, valued at approximately $1,919,000.

Other hedge funds have also bought and sold shares of the company. NTV Asset Management LLC raised its holdings in Lowe’s Companies by 1.6% during the third quarter. NTV Asset Management LLC now owns 3,587 shares of the home improvement retailer’s stock worth $902,000 after buying an additional 56 shares during the last quarter. Brown Miller Wealth Management LLC increased its position in shares of Lowe’s Companies by 1.9% during the third quarter. Brown Miller Wealth Management LLC now owns 19,053 shares of the home improvement retailer’s stock worth $4,788,000 after acquiring an additional 361 shares in the last quarter. Arbor Investment Advisors LLC increased its position in shares of Lowe’s Companies by 1,679.8% during the third quarter. Arbor Investment Advisors LLC now owns 20,574 shares of the home improvement retailer’s stock worth $5,170,000 after acquiring an additional 19,418 shares in the last quarter. SJS Investment Consulting Inc. raised its holdings in shares of Lowe’s Companies by 1,232.3% in the 3rd quarter. SJS Investment Consulting Inc. now owns 3,051 shares of the home improvement retailer’s stock worth $767,000 after acquiring an additional 2,822 shares during the last quarter. Finally, Cascade Financial Partners LLC bought a new position in Lowe’s Companies in the 3rd quarter valued at about $221,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 2.3%

LOW stock opened at $246.77 on Friday. The stock has a market cap of $138.43 billion, a P/E ratio of 20.46, a P/E/G ratio of 4.09 and a beta of 0.96. The stock’s fifty day simple moving average is $239.83 and its two-hundred day simple moving average is $241.37. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $274.98.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The business’s revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm posted $2.89 EPS. As a group, 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 business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 annualized dividend and a yield of 1.9%. Lowe’s Companies’s payout ratio is currently 39.80%.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on Lowe’s Companies from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. UBS Group decreased their price target on Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a report on Thursday, November 20th. Oppenheimer lowered their price target on Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a research report on Friday, December 5th. Truist Financial set a $269.00 price objective on shares of Lowe’s Companies in a report on Wednesday, December 17th. Finally, Stifel Nicolaus upped their target price on shares of Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a research note on Monday, December 1st. Seventeen analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $276.80.

Lowe’s Companies Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.