Townsquare Capital LLC Raises Stake in Lowe's Companies, Inc. (NYSE:LOW)

Key Points

• Townsquare Capital LLC increased its stake in Lowe's Companies by 9.6%, owning 73,569 shares worth approximately $17.16 million after acquiring 6,445 additional shares.
• Lowe's recently declared a quarterly dividend of $1.20 per share, marking a rise from the previous $1.15, and the annualized dividend yield is now 2.0%.
• Analysts have varying price targets for Lowe's stock, with a consensus price target of $270.68, reflecting a general positive outlook despite some reductions in target prices.

Townsquare Capital LLC raised its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 73,569 shares of the home improvement retailer's stock after purchasing an additional 6,445 shares during the period. Townsquare Capital LLC's holdings in Lowe's Companies were worth $17,158,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake in shares of Lowe's Companies by 119.7% during the 4th quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer's stock valued at $7,889,000 after buying an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC lifted its stake in shares of Lowe's Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer's stock valued at $266,000 after buying an additional 259 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Lowe's Companies by 2,962.5% during the 4th quarter. Renaissance Technologies LLC now owns 98,000 shares of the home improvement retailer's stock valued at $24,186,000 after buying an additional 94,800 shares in the last quarter. Martingale Asset Management L P lifted its stake in shares of Lowe's Companies by 32.7% during the 4th quarter. Martingale Asset Management L P now owns 17,386 shares of the home improvement retailer's stock valued at $4,291,000 after buying an additional 4,280 shares in the last quarter. Finally, Texas Yale Capital Corp. lifted its stake in shares of Lowe's Companies by 2.1% during the 4th quarter. Texas Yale Capital Corp. now owns 4,895 shares of the home improvement retailer's stock valued at $1,208,000 after buying an additional 100 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Lowe's Companies

In other news, EVP Juliette Williams Pryor sold 1,130 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $227.50, for a total value of $257,075.00. Following the completion of the sale, the executive vice president directly owned 31,898 shares of the company's stock, valued at approximately $7,256,795. This trade represents a 3.42% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.27% of the stock is currently owned by company insiders.

Lowe's Companies Stock Performance

Shares of LOW stock traded up $4.95 on Tuesday, hitting $244.80. 1,717,094 shares of the company's stock traded hands, compared to its average volume of 2,650,161. The stock has a market capitalization of $137.19 billion, a price-to-earnings ratio of 20.29, a P/E/G ratio of 2.28 and a beta of 0.89. Lowe's Companies, Inc. has a one year low of $206.38 and a one year high of $287.01. The company's fifty day simple moving average is $224.68 and its 200 day simple moving average is $230.41.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings results on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.88 by $0.04. The business had revenue of $20.93 billion for the quarter, compared to analyst estimates of $21.09 billion. Lowe's Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The company's revenue was down 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.06 EPS. As a group, sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe's Companies Increases Dividend

The company 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 of this dividend was Wednesday, July 23rd. This represents a $4.80 dividend on an annualized basis and a yield of 2.0%. Lowe's Companies's payout ratio is 39.77%.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Truist Financial set a $264.00 price target on shares of Lowe's Companies and gave the company a "buy" rating in a research note on Thursday, May 22nd. Sanford C. Bernstein set a $266.00 target price on shares of Lowe's Companies and gave the stock an "outperform" rating in a research note on Thursday, May 22nd. Robert W. Baird lowered their target price on shares of Lowe's Companies from $295.00 to $285.00 and set an "outperform" rating on the stock in a research note on Thursday, May 22nd. Stifel Nicolaus lowered their target price on shares of Lowe's Companies from $250.00 to $240.00 and set a "hold" rating on the stock in a research note on Tuesday, May 27th. Finally, Wall Street Zen upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $270.68.

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.