Ted Buchan & Co Acquires New Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Ted Buchan & Co acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 1,160 shares of the home improvement retailer’s stock, valued at approximately $256,000.

Several other institutional investors and hedge funds have also modified their holdings of LOW. 9258 Wealth Management LLC grew its position in shares of Lowe’s Companies by 24.8% in the 4th quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock valued at $531,000 after purchasing an additional 474 shares during the period. Focus Financial Network Inc. ADV acquired a new position in Lowe’s Companies during the 4th quarter worth approximately $358,000. CWA Asset Management Group LLC boosted its position in Lowe’s Companies by 50.4% during the 4th quarter. CWA Asset Management Group LLC now owns 5,363 shares of the home improvement retailer’s stock worth $1,194,000 after acquiring an additional 1,796 shares during the last quarter. NEOS Investment Management LLC boosted its position in Lowe’s Companies by 36.9% during the 4th quarter. NEOS Investment Management LLC now owns 8,183 shares of the home improvement retailer’s stock worth $1,821,000 after acquiring an additional 2,206 shares during the last quarter. Finally, Rafferty Asset Management LLC boosted its position in Lowe’s Companies by 18.5% during the 4th quarter. Rafferty Asset Management LLC now owns 90,727 shares of the home improvement retailer’s stock worth $20,191,000 after acquiring an additional 14,195 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

LOW stock opened at $270.85 on Tuesday. The firm’s fifty day moving average is $246.83 and its 200 day moving average is $236.29. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $271.27. The firm has a market cap of $154.34 billion, a P/E ratio of 21.76, a P/E/G ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion during 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%. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. During the same period last year, the company posted $4.56 EPS. As a group, 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 declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.70%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of recent research reports. Gordon Haskett reduced their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Wells Fargo & Company cut their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Evercore ISI increased their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. UBS Group increased 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, Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $260.00.

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 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Insiders own 0.26% of the company’s stock.

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.