Pacer Advisors Inc. Purchases 488 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Pacer Advisors Inc. grew its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.2% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 41,091 shares of the home improvement retailer’s stock after acquiring an additional 488 shares during the quarter. Pacer Advisors Inc.’s holdings in Lowe’s Companies were worth $9,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Brevan Howard Capital Management LP increased its stake in Lowe’s Companies by 824.6% in the 4th 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 position in shares of 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 during the last quarter. Plato Investment Management Ltd increased its position in shares of Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares during the last quarter. 17 Capital Partners LLC bought a new position in shares of Lowe’s Companies during the 1st quarter valued at approximately $1,368,000. Finally, Gerber LLC bought a new position in shares of Lowe’s Companies during the 4th quarter valued at approximately $235,000. Institutional investors own 74.06% of the company’s stock.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 0.8 %

LOW opened at $262.29 on Tuesday. The firm has a market cap of $149.46 billion, a price-to-earnings ratio of 21.07, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The stock has a fifty day moving average price of $244.18 and a 200-day moving average price of $235.47.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating 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 company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the company posted $4.56 EPS. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The company 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. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.75%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on LOW shares. Evercore ISI boosted their target price on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Morgan Stanley boosted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Melius Research initiated coverage on Lowe’s Companies in a report on Monday. They set a “buy” rating and a $290.00 price objective for the company. Finally, Truist Financial boosted their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average price target of $255.00.

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.