8,332 Shares in Lowe’s Companies, Inc. (NYSE:LOW) Purchased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board purchased a new position in Lowe’s Companies, Inc. (NYSE:LOW) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 8,332 shares of the home improvement retailer’s stock, valued at approximately $717,000.

Several other institutional investors have also modified their holdings of the stock. Citizens Financial Group Inc RI increased its stake in shares of Lowe’s Companies by 28.9% in the 1st quarter. Citizens Financial Group Inc RI now owns 19,210 shares of the home improvement retailer’s stock worth $1,653,000 after acquiring an additional 4,311 shares in the last quarter. ETRADE Capital Management LLC increased its stake in Lowe’s Companies by 25.7% during the 1st quarter. ETRADE Capital Management LLC now owns 33,889 shares of the home improvement retailer’s stock valued at $2,916,000 after purchasing an additional 6,934 shares in the last quarter. EagleClaw Capital Managment LLC increased its stake in Lowe’s Companies by 1.1% during the 1st quarter. EagleClaw Capital Managment LLC now owns 40,287 shares of the home improvement retailer’s stock valued at $3,467,000 after purchasing an additional 453 shares in the last quarter. Summitry LLC increased its stake in Lowe’s Companies by 14.3% during the 1st quarter. Summitry LLC now owns 421,090 shares of the home improvement retailer’s stock valued at $36,235,000 after purchasing an additional 52,607 shares in the last quarter. Finally, Fiera Capital Corp increased its stake in Lowe’s Companies by 1.2% during the 1st quarter. Fiera Capital Corp now owns 1,421,279 shares of the home improvement retailer’s stock valued at $122,300,000 after purchasing an additional 17,363 shares in the last quarter. Institutional investors own 76.15% of the company’s stock.

LOW opened at $122.25 on Friday. The company has a current ratio of 1.20, a quick ratio of 0.14 and a debt-to-equity ratio of 14.05. The company has a market cap of $91.08 billion, a price-to-earnings ratio of 19.24, a PEG ratio of 1.33 and a beta of 1.38. The company’s 50 day moving average is $101.42 and its 200 day moving average is $110.02. Lowe’s Companies, Inc. has a 12-month low of $60.00 and a 12-month high of $126.73.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, May 20th. The home improvement retailer reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.32 by $0.45. The company had revenue of $19.68 billion for the quarter, compared to the consensus estimate of $18.33 billion. Lowe’s Companies had a net margin of 6.17% and a return on equity of 220.44%. The firm’s revenue was up 10.9% compared to the same quarter last year. During the same quarter last year, the firm posted $1.22 earnings per share. As a group, analysts predict that Lowe’s Companies, Inc. will post 5.97 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 6th. Shareholders of record on Wednesday, April 22nd were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 1.80%. The ex-dividend date of this dividend was Tuesday, April 21st. Lowe’s Companies’s dividend payout ratio is currently 38.46%.

In other news, CEO Marvin R. Ellison purchased 10,000 shares of the stock in a transaction on Friday, March 6th. The shares were acquired at an average price of $103.86 per share, with a total value of $1,038,600.00. Following the completion of the acquisition, the chief executive officer now directly owns 90,090 shares of the company’s stock, valued at $9,356,747.40. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.07% of the stock is owned by insiders.

A number of analysts have weighed in on the stock. Jefferies Financial Group raised their price objective on shares of Lowe’s Companies from $121.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, May 13th. Piper Sandler raised their price objective on shares of Lowe’s Companies from $139.00 to $147.00 and gave the company an “overweight” rating in a research note on Friday, May 15th. Zacks Investment Research lowered shares of Lowe’s Companies from a “hold” rating to a “sell” rating and set a $108.00 price objective for the company. in a research note on Tuesday, April 28th. Nomura raised their price objective on shares of Lowe’s Companies from $125.00 to $130.00 in a research note on Thursday. Finally, Goldman Sachs Group lowered shares of Lowe’s Companies from a “conviction-buy” rating to a “buy” rating in a research note on Wednesday, March 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-seven have assigned a buy rating to the company’s stock. Lowe’s Companies currently has an average rating of “Buy” and an average target price of $132.54.

About Lowe’s Companies

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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

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