Marathon Trading Investment Management LLC Takes Position in Lowe’s Companies, Inc. (NYSE:LOW)

Marathon Trading Investment Management LLC acquired a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,000 shares of the home improvement retailer’s stock, valued at approximately $661,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Brevan Howard Capital Management LP grew its stake in shares of Lowe’s Companies by 824.6% during the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after acquiring an additional 13,680 shares during the last quarter. Bamco Inc. NY increased its stake in Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares in the last quarter. Plato Investment Management Ltd raised its holdings in shares of Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after buying an additional 5,470 shares during the last quarter. 17 Capital Partners LLC purchased a new position in shares of Lowe’s Companies in the first quarter worth $1,368,000. Finally, Gerber LLC acquired a new stake in shares of Lowe’s Companies during the fourth quarter worth $235,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Down 0.0 %

LOW opened at $256.63 on Thursday. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The firm has a market capitalization of $146.24 billion, a PE ratio of 20.61, a PEG ratio of 2.03 and a beta of 1.10. The firm’s 50-day moving average price is $242.43 and its 200 day moving average price is $235.09.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the firm posted $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.79%. The ex-dividend date is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday. Morgan Stanley raised their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Wells Fargo & Company dropped their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Piper Sandler cut their price target on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Finally, Telsey Advisory Group restated a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Hold” and a consensus price target of $252.83.

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.