Canada Pension Plan Investment Board Decreases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Canada Pension Plan Investment Board cut its position in Lowe’s Companies, Inc. (NYSE:LOWGet Rating) by 74.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 194,635 shares of the home improvement retailer’s stock after selling 559,141 shares during the period. Canada Pension Plan Investment Board’s holdings in Lowe’s Companies were worth $39,353,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CX Institutional increased its holdings in Lowe’s Companies by 10.1% in the 1st quarter. CX Institutional now owns 2,315 shares of the home improvement retailer’s stock valued at $468,000 after purchasing an additional 212 shares in the last quarter. Whittier Trust Co. of Nevada Inc. boosted its holdings in Lowe’s Companies by 10.8% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 32,253 shares of the home improvement retailer’s stock worth $6,521,000 after purchasing an additional 3,147 shares in the last quarter. Pure Financial Advisors LLC acquired a new position in Lowe’s Companies during the 1st quarter worth $328,000. ARGI Investment Services LLC lifted its position in Lowe’s Companies by 5.1% during the 1st quarter. ARGI Investment Services LLC now owns 9,012 shares of the home improvement retailer’s stock worth $1,822,000 after acquiring an additional 440 shares during the last quarter. Finally, Joseph P. Lucia & Associates LLC acquired a new position in shares of Lowe’s Companies during the first quarter valued at about $27,000. 74.04% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lowe’s Companies

In other news, EVP Seemantini Godbole sold 11,761 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $214.37, for a total transaction of $2,521,205.57. Following the transaction, the executive vice president now owns 26,575 shares of the company’s stock, valued at approximately $5,696,882.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.24% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently issued reports on LOW. Jefferies Financial Group increased their price target on shares of Lowe’s Companies from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Citigroup raised their price objective on shares of Lowe’s Companies to $217.00 in a research note on Monday, August 22nd. Robert W. Baird increased their target price on shares of Lowe’s Companies from $225.00 to $235.00 and gave the stock an “outperform” rating in a report on Wednesday, August 17th. Truist Financial increased their target price on shares of Lowe’s Companies from $237.00 to $263.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. Finally, UBS Group raised their price objective on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $244.05.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $204.38 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $170.12 and a fifty-two week high of $263.31. The business has a 50-day simple moving average of $195.20 and a two-hundred day simple moving average of $199.57. The firm has a market cap of $126.86 billion, a price-to-earnings ratio of 16.11, a price-to-earnings-growth ratio of 1.09 and a beta of 1.22.

Lowe’s Companies (NYSE:LOWGet Rating) last announced its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Lowe’s Companies had a negative return on equity of 155.26% and a net margin of 8.83%. The company had revenue of $27.48 billion during the quarter, compared to the consensus estimate of $28.16 billion. During the same period in the previous year, the company posted $4.25 EPS. The firm’s revenue was down .3% on a year-over-year basis. As a group, research analysts predict that Lowe’s Companies, Inc. will post 13.51 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be issued a dividend of $1.05 per share. The ex-dividend date is Tuesday, October 18th. This represents a $4.20 annualized dividend and a yield of 2.05%. Lowe’s Companies’s payout ratio is presently 33.10%.

About Lowe’s Companies

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

Further Reading

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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