DoubleLine ETF Adviser LP Acquires New Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

DoubleLine ETF Adviser LP purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the second quarter, Holdings Channel reports. The fund purchased 15,313 shares of the home improvement retailer’s stock, valued at approximately $3,376,000.

A number of other hedge funds also recently modified their holdings of the business. Voisard Asset Management Group Inc. bought a new stake in shares of Lowe’s Companies in the 4th quarter valued at $28,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies in the 4th quarter valued at about $31,000. Stephens Consulting LLC lifted 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 acquiring an additional 70 shares during the period. Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies during the 1st quarter worth $35,000. Finally, Raleigh Capital Management Inc. boosted its stake in Lowe’s Companies by 48.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 183 shares of the home improvement retailer’s stock valued at $41,000 after acquiring an additional 60 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on 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 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 SEC, which is available through this link. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

LOW has been the topic of a number of recent research reports. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Morgan Stanley upped their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. UBS Group raised their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Finally, Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $258.13.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $264.89 on Thursday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $268.09. The firm has a market capitalization of $150.94 billion, a P/E ratio of 21.28, a P/E/G ratio of 2.15 and a beta of 1.10. The stock has a 50 day moving average price of $244.69 and a 200-day moving average price of $235.64.

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 for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $4.56 earnings per share. On average, equities analysts forecast 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. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. 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 yield of 1.74%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

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.