MQS Management LLC Acquires Shares of 4,002 Lowe’s Companies, Inc. (NYSE:LOW)

MQS Management LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,002 shares of the home improvement retailer’s stock, valued at approximately $882,000. Lowe’s Companies makes up 0.5% of MQS Management LLC’s holdings, making the stock its 15th largest position.

Several other hedge funds have also modified their holdings of LOW. Tidemark LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at $27,000. Voisard Asset Management Group Inc. acquired a new stake in shares of Lowe’s Companies during the 4th quarter valued at approximately $28,000. Keener Financial Planning LLC acquired a new stake in shares of Lowe’s Companies in the 1st quarter worth approximately $35,000. Transcendent Capital Group LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $31,000. Finally, Stephens Consulting LLC raised its holdings in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $256.63 on Thursday. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The company has a market capitalization of $146.24 billion, a price-to-earnings ratio of 20.61, a PEG ratio of 2.03 and a beta of 1.10. The business has a 50-day moving average of $242.43 and a 200-day moving average of $235.09.

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

Lowe’s Companies Increases Dividend

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

Analysts Set New Price Targets

Several equities research analysts recently commented on LOW shares. Piper Sandler decreased their price objective on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Wells Fargo & Company dropped their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Truist Financial upped their target price on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $252.83.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by insiders.

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.