Canton Hathaway LLC Increases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Canton Hathaway LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 15.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,185 shares of the home improvement retailer’s stock after purchasing an additional 285 shares during the quarter. Canton Hathaway LLC’s holdings in Lowe’s Companies were worth $443,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in LOW. Nuveen Asset Management LLC boosted its stake in shares of Lowe’s Companies by 1.2% in the second quarter. Nuveen Asset Management LLC now owns 7,076,158 shares of the home improvement retailer’s stock valued at $1,372,562,000 after buying an additional 82,772 shares in the last quarter. Morgan Stanley raised its position in Lowe’s Companies by 3.7% in the second quarter. Morgan Stanley now owns 5,670,692 shares of the home improvement retailer’s stock worth $1,099,945,000 after acquiring an additional 201,647 shares in the last quarter. Legal & General Group Plc lifted its holdings in Lowe’s Companies by 2.4% in the second quarter. Legal & General Group Plc now owns 5,079,252 shares of the home improvement retailer’s stock valued at $985,222,000 after acquiring an additional 116,801 shares during the period. UBS Asset Management Americas Inc. boosted its position in shares of Lowe’s Companies by 2.7% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 4,732,868 shares of the home improvement retailer’s stock worth $918,034,000 after purchasing an additional 125,713 shares in the last quarter. Finally, Swiss National Bank boosted its position in shares of Lowe’s Companies by 5.8% during the 2nd quarter. Swiss National Bank now owns 2,980,739 shares of the home improvement retailer’s stock worth $578,174,000 after purchasing an additional 162,936 shares in the last quarter. Institutional investors own 74.07% of the company’s stock.

Shares of NYSE LOW traded up $0.72 on Thursday, reaching $252.63. 1,952,637 shares of the company traded hands, compared to its average volume of 3,732,437. Lowe’s Companies, Inc. has a fifty-two week low of $149.31 and a fifty-two week high of $256.39. The company has a 50 day moving average of $223.69 and a 200 day moving average of $205.52. The company has a current ratio of 1.19, a quick ratio of 0.39 and a debt-to-equity ratio of 49.23. The stock has a market capitalization of $174.93 billion, a PE ratio of 21.95, a P/E/G ratio of 1.44 and a beta of 1.32.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 17th. The home improvement retailer reported $2.73 EPS for the quarter, beating the Zacks’ consensus estimate of $2.35 by $0.38. Lowe’s Companies had a net margin of 8.63% and a return on equity of 25,100.30%. The company had revenue of $22.92 billion during the quarter, compared to the consensus estimate of $22.06 billion. During the same quarter in the prior year, the company posted $1.98 EPS. The company’s quarterly revenue was up 2.7% compared to the same quarter last year. As a group, research analysts expect that Lowe’s Companies, Inc. will post 11.85 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 2nd. Stockholders of record on Wednesday, January 19th will be paid a dividend of $0.80 per share. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.27%. The ex-dividend date of this dividend is Tuesday, January 18th. Lowe’s Companies’s dividend payout ratio is currently 27.80%.

Several equities research analysts have commented on LOW shares. Morgan Stanley boosted their target price on shares of Lowe’s Companies from $240.00 to $255.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 9th. OTR Global lowered shares of Lowe’s Companies to a “positive” rating in a research report on Tuesday, August 10th. Zacks Investment Research lowered shares of Lowe’s Companies from a “hold” rating to a “sell” rating and set a $205.00 target price on the stock. in a research report on Wednesday, July 28th. Credit Suisse Group boosted their target price on shares of Lowe’s Companies from $208.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, August 19th. Finally, Truist Securities boosted their target price on shares of Lowe’s Companies from $217.00 to $284.00 and gave the stock a “buy” rating in a research report on Thursday, November 18th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average target price of $247.00.

About Lowe’s Companies

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

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

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