Public Sector Pension Investment Board Boosts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Public Sector Pension Investment Board increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 11.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 532,194 shares of the home improvement retailer’s stock after buying an additional 53,340 shares during the period. Lowe’s Companies comprises approximately 0.8% of Public Sector Pension Investment Board’s investment portfolio, making the stock its 24th largest holding. Public Sector Pension Investment Board owned approximately 0.09% of Lowe’s Companies worth $144,145,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. StoneX Group Inc. acquired a new stake in shares of Lowe’s Companies in the third quarter valued at about $2,713,000. HM Payson & Co. lifted its stake in Lowe’s Companies by 1.1% in the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after buying an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC boosted its holdings in Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after buying an additional 2,889 shares during the last quarter. AMF Tjanstepension AB boosted its holdings in Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after buying an additional 20,123 shares during the last quarter. Finally, Claro Advisors LLC increased its stake in Lowe’s Companies by 2,246.3% during the 3rd quarter. Claro Advisors LLC now owns 40,521 shares of the home improvement retailer’s stock worth $10,975,000 after buying an additional 38,794 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Price Performance

Shares of LOW opened at $273.14 on Thursday. The firm has a 50-day simple moving average of $269.80 and a two-hundred day simple moving average of $245.66. The stock has a market cap of $154.95 billion, a PE ratio of 22.78, a P/E/G ratio of 2.31 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $196.32 and a 1-year high of $287.01.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. UBS Group lifted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Morgan Stanley lifted their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Melius Research initiated coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price for the company. Stifel Nicolaus raised their price target on shares of Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research note on Monday, November 11th. Finally, Gordon Haskett dropped their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $277.92.

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.