Lowe's Companies, Inc. (NYSE:LOW) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management Ltd. increased its holdings in Lowe's Companies, Inc. by 55.6% in the first quarter, acquiring an additional 164,496 shares for a total of 460,396 shares.
• Several brokerages have recently revised their price targets for Lowe's stock, with Citigroup lowering its target from $253.00 to $242.00 and maintaining a "neutral" rating.
• Lowe's recently increased its quarterly dividend from $1.15 to $1.20 per share, reflecting a positive change and an annualized yield of 2.0%.

Connor Clark & Lunn Investment Management Ltd. increased its position in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 55.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 460,396 shares of the home improvement retailer's stock after purchasing an additional 164,496 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.08% of Lowe's Companies worth $107,378,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in LOW. Pacer Advisors Inc. lifted its stake in shares of Lowe's Companies by 2,984.6% in the 1st quarter. Pacer Advisors Inc. now owns 2,038,069 shares of the home improvement retailer's stock valued at $475,339,000 after purchasing an additional 1,971,996 shares during the period. Kovitz Investment Group Partners LLC increased its holdings in shares of Lowe's Companies by 350.2% in the 4th quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer's stock worth $585,770,000 after purchasing an additional 1,846,315 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Lowe's Companies by 26,796.0% in the 1st quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer's stock worth $386,540,000 after buying an additional 1,651,170 shares during the last quarter. Northern Trust Corp lifted its position in shares of Lowe's Companies by 16.3% in the fourth quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer's stock valued at $1,745,960,000 after acquiring an additional 993,833 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of Lowe's Companies by 1,048.5% in the first quarter. Assenagon Asset Management S.A. now owns 739,727 shares of the home improvement retailer's stock worth $172,527,000 after buying an additional 675,318 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Insider Buying and Selling at Lowe's Companies

In related news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe's Companies stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president owned 31,898 shares in the company, valued at approximately $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.27% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. cut their target price on Lowe's Companies from $300.00 to $263.00 and set an "overweight" rating on the stock in a research note on Tuesday, May 6th. Truist Financial set a $264.00 target price on Lowe's Companies and gave the company a "buy" rating in a research report on Thursday, May 22nd. Guggenheim reiterated a "buy" rating and issued a $300.00 price objective on shares of Lowe's Companies in a report on Tuesday, July 22nd. Morgan Stanley lowered their price objective on Lowe's Companies from $300.00 to $255.00 and set an "overweight" rating on the stock in a report on Monday, May 5th. Finally, Citigroup decreased their target price on shares of Lowe's Companies from $253.00 to $242.00 and set a "neutral" rating on the stock in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have given a buy rating to the company's stock. Based on data from MarketBeat, Lowe's Companies currently has an average rating of "Moderate Buy" and an average price target of $270.68.

Lowe's Companies Stock Down 0.5%

NYSE LOW traded down $1.11 during trading hours on Monday, hitting $240.04. 2,602,458 shares of the stock were exchanged, compared to its average volume of 2,697,837. Lowe's Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.01. The company has a market cap of $134.53 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.28 and a beta of 0.89. The stock has a 50-day moving average of $224.39 and a 200 day moving average of $230.57.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 EPS for the quarter, topping the consensus estimate of $2.88 by $0.04. The firm had revenue of $20.93 billion during the quarter, compared to analysts' expectations of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. Lowe's Companies's revenue for the quarter was down 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $3.06 EPS. On average, equities research analysts expect that Lowe's Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe's Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 6th. Shareholders of record on Wednesday, July 23rd were issued a $1.20 dividend. This is a boost from Lowe's Companies's previous quarterly dividend of $1.15. The ex-dividend date was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a dividend yield of 2.0%. Lowe's Companies's dividend payout ratio (DPR) is 39.77%.

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.