Townsquare Capital LLC Reduces Stock Position in Lowe’s Companies, Inc. $LOW

Townsquare Capital LLC decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 21.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,504 shares of the home improvement retailer’s stock after selling 2,897 shares during the quarter. Townsquare Capital LLC’s holdings in Lowe’s Companies were worth $2,640,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of LOW. Vanguard Group Inc. raised its holdings in shares of Lowe’s Companies by 0.7% during the second quarter. Vanguard Group Inc. now owns 54,976,355 shares of the home improvement retailer’s stock worth $12,197,604,000 after purchasing an additional 366,977 shares during the last quarter. State Street Corp grew its stake in shares of Lowe’s Companies by 0.8% during the 2nd quarter. State Street Corp now owns 24,911,775 shares of the home improvement retailer’s stock worth $5,527,176,000 after purchasing an additional 207,826 shares during the period. Geode Capital Management LLC lifted its stake in shares of Lowe’s Companies by 0.3% in the 2nd quarter. Geode Capital Management LLC now owns 12,351,783 shares of the home improvement retailer’s stock valued at $2,732,049,000 after purchasing an additional 42,190 shares during the period. Norges Bank purchased a new stake in Lowe’s Companies during the second quarter worth $1,773,624,000. Finally, Bank of New York Mellon Corp grew its position in Lowe’s Companies by 12.1% during the third quarter. Bank of New York Mellon Corp now owns 4,294,776 shares of the home improvement retailer’s stock valued at $1,079,320,000 after buying an additional 463,012 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.1%

Shares of NYSE LOW opened at $266.43 on Friday. The firm has a 50-day simple moving average of $253.00 and a 200-day simple moving average of $247.35. The stock has a market capitalization of $149.45 billion, a price-to-earnings ratio of 22.09, a price-to-earnings-growth ratio of 4.47 and a beta of 0.96. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $281.36.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s quarterly revenue was up 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.89 EPS. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s payout ratio is currently 39.80%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on LOW shares. Mizuho lowered their target price on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Oppenheimer lowered their price target on Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating on the stock in a research report on Friday, December 5th. Morgan Stanley boosted their price objective on Lowe’s Companies from $270.00 to $296.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Truist Financial set a $295.00 target price on Lowe’s Companies in a research report on Friday, January 16th. Finally, Stifel Nicolaus boosted their price target on shares of Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, December 1st. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $283.65.

Insider Activity

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction dated Friday, January 9th. The shares were sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.