Canada Pension Plan Investment Board Acquires 176,048 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Canada Pension Plan Investment Board boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 52.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 508,678 shares of the home improvement retailer’s stock after acquiring an additional 176,048 shares during the quarter. Canada Pension Plan Investment Board owned 0.09% of Lowe’s Companies worth $112,143,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares during the last quarter. Strategic Financial Concepts LLC boosted its position in Lowe’s Companies by 20,275.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares during the period. M&G Plc bought a new position in Lowe’s Companies in the 1st quarter worth about $217,995,000. Pathstone Holdings LLC purchased a new position in shares of Lowe’s Companies during the fourth quarter worth approximately $126,615,000. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on 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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the topic of several research reports. Evercore ISI raised their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Piper Sandler cut their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. TD Cowen upped their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday. Morgan Stanley increased their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and an average target price of $253.33.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $260.17 on Friday. The business has a fifty day moving average of $243.58 and a 200 day moving average of $235.40. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The firm has a market capitalization of $148.25 billion, a price-to-earnings ratio of 20.90, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) 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 firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the business posted $4.56 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.77%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 36.95%.

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.