Moors & Cabot Inc. Purchases 14,288 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Moors & Cabot Inc. boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 80.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,000 shares of the home improvement retailer’s stock after buying an additional 14,288 shares during the quarter. Moors & Cabot Inc.’s holdings in Lowe’s Companies were worth $36,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Winslow Capital Management LLC bought a new stake in shares of Lowe’s Companies in the second quarter worth about $418,413,000. Amundi bought a new stake in shares of Lowe’s Companies in the second quarter worth about $395,458,000. Nordea Investment Management AB increased its holdings in shares of Lowe’s Companies by 96.3% in the third quarter. Nordea Investment Management AB now owns 3,380,885 shares of the home improvement retailer’s stock worth $698,964,000 after acquiring an additional 1,658,293 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Lowe’s Companies by 777.5% in the second quarter. First Trust Advisors LP now owns 1,328,409 shares of the home improvement retailer’s stock worth $257,671,000 after acquiring an additional 1,177,029 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Lowe’s Companies by 837.8% in the second quarter. Renaissance Technologies LLC now owns 916,200 shares of the home improvement retailer’s stock worth $177,715,000 after acquiring an additional 818,500 shares in the last quarter. 74.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE LOW opened at $243.40 on Friday. The firm has a market cap of $163.99 billion, a P/E ratio of 21.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31. The company has a current ratio of 1.19, a quick ratio of 0.39 and a debt-to-equity ratio of 49.23. Lowe’s Companies, Inc. has a 1-year low of $150.84 and a 1-year high of $263.31. The business’s 50 day moving average is $249.67 and its 200-day moving average is $220.72.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Wednesday, November 17th. The home improvement retailer reported $2.73 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.35 by $0.38. The company had revenue of $22.92 billion for the quarter, compared to analyst estimates of $22.06 billion. Lowe’s Companies had a return on equity of 25,100.30% and a net margin of 8.63%. The firm’s quarterly revenue was up 2.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.98 earnings per share. Analysts forecast that Lowe’s Companies, Inc. will post 11.94 EPS for the current year.

Lowe’s Companies declared that its Board of Directors has authorized a share buyback program on Wednesday, December 15th that permits the company to buyback $13.00 billion in outstanding shares. This buyback authorization permits the home improvement retailer to buy up to 7.6% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s management believes its shares are undervalued.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 2nd. Stockholders of record on Wednesday, January 19th will be paid a dividend of $0.80 per share. The ex-dividend date is Tuesday, January 18th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.31%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 27.80%.

Several brokerages have issued reports on LOW. Truist increased their price target on Lowe’s Companies from $217.00 to $284.00 and gave the stock a “buy” rating in a report on Thursday, November 18th. Truist Securities increased their price objective on Lowe’s Companies from $217.00 to $284.00 and gave the stock a “buy” rating in a report on Thursday, November 18th. Evercore ISI upgraded Lowe’s Companies from an “in-line” rating to an “outperform” rating and set a $280.00 price objective for the company in a report on Thursday, January 6th. Morgan Stanley increased their price objective on Lowe’s Companies from $260.00 to $265.00 and gave the stock an “overweight” rating in a report on Thursday, December 16th. Finally, Wedbush increased their price objective on Lowe’s Companies from $210.00 to $260.00 and gave the stock a “neutral” rating in a report on Thursday, November 18th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Buy” and an average price target of $258.71.

About Lowe’s Companies

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

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

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