Addenda Capital Inc. Acquires 20,756 Shares of Lowe’s Companies, Inc. $LOW

Addenda Capital Inc. increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 41.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,588 shares of the home improvement retailer’s stock after acquiring an additional 20,756 shares during the period. Addenda Capital Inc.’s holdings in Lowe’s Companies were worth $17,739,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Norges Bank bought a new position in shares of Lowe’s Companies during the 2nd quarter valued at approximately $1,773,624,000. Tableaux LLC purchased a new position in Lowe’s Companies during the second quarter worth $282,884,000. Laurel Wealth Advisors LLC boosted its stake in Lowe’s Companies by 22,167.5% during the second quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock worth $229,041,000 after buying an additional 1,027,683 shares during the period. Worldquant Millennium Advisors LLC increased its position in Lowe’s Companies by 243.2% during the second quarter. Worldquant Millennium Advisors LLC now owns 1,116,945 shares of the home improvement retailer’s stock valued at $247,817,000 after acquiring an additional 791,526 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Lowe’s Companies by 26.3% in the second quarter. Arrowstreet Capital Limited Partnership now owns 2,358,118 shares of the home improvement retailer’s stock valued at $523,196,000 after acquiring an additional 491,005 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $247.77 on Friday. The company has a market capitalization of $138.99 billion, a PE ratio of 20.54, a P/E/G ratio of 4.11 and a beta of 0.96. The company has a 50 day moving average price of $239.51 and a 200-day moving average price of $239.71. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $274.98.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Wednesday, November 19th. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.Lowe’s Companies’s quarterly revenue was up 3.2% on a year-over-year basis. During the same period last year, the business posted $2.89 EPS. Lowe’s Companies has set its FY 2025 guidance at 12.250-12.250 EPS. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st will be issued a $1.20 dividend. This represents a $4.80 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Wednesday, January 21st. Lowe’s Companies’s payout ratio is presently 39.80%.

Analysts Set New Price Targets

LOW has been the subject of a number of recent analyst reports. Piper Sandler lifted their price target on shares of Lowe’s Companies from $269.00 to $294.00 and gave the stock an “overweight” rating in a research note on Thursday, August 21st. Royal Bank Of Canada dropped their target price on Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating for the company in a research report on Thursday, November 20th. Truist Financial set a $269.00 target price on Lowe’s Companies in a research note on Wednesday. Mizuho decreased their price target on Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Finally, DA Davidson cut their price objective on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating on the stock in a research report on Thursday, November 20th. Sixteen equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $276.46.

Lowe’s Companies Company 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.