Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) saw a large increase in short interest in November. As of November 30th, there was short interest totalling 13,510,000 shares, an increase of 17.8% from the November 15th total of 11,470,000 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average daily trading volume, of 3,690,000 shares, the days-to-cover ratio is currently 3.7 days.
In related news, EVP Ross W. Mccanless sold 57,629 shares of Lowe’s Companies stock in a transaction on Tuesday, December 13th. The shares were sold at an average price of $211.35, for a total transaction of $12,179,889.15. Following the transaction, the executive vice president now owns 26,923 shares in the company, valued at approximately $5,690,176.05. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.24% of the stock is owned by corporate insiders.
Several large investors have recently added to or reduced their stakes in the stock. Insight Advisors LLC PA boosted its position in Lowe’s Companies by 10.1% in the 3rd quarter. Insight Advisors LLC PA now owns 2,549 shares of the home improvement retailer’s stock valued at $479,000 after buying an additional 234 shares during the period. WealthPlan Investment Management LLC purchased a new stake in Lowe’s Companies in the 3rd quarter valued at about $4,174,000. Obermeyer Wood Investment Counsel Lllp boosted its position in Lowe’s Companies by 51.7% in the 3rd quarter. Obermeyer Wood Investment Counsel Lllp now owns 10,802 shares of the home improvement retailer’s stock valued at $2,029,000 after buying an additional 3,680 shares during the period. Centaurus Financial Inc. boosted its position in Lowe’s Companies by 6.3% in the 3rd quarter. Centaurus Financial Inc. now owns 5,860 shares of the home improvement retailer’s stock valued at $1,101,000 after buying an additional 345 shares during the period. Finally, EP Wealth Advisors LLC boosted its position in Lowe’s Companies by 54.0% in the 3rd quarter. EP Wealth Advisors LLC now owns 73,158 shares of the home improvement retailer’s stock valued at $13,740,000 after buying an additional 25,638 shares during the period. 74.04% of the stock is owned by hedge funds and other institutional investors.
NYSE:LOW traded down $1.88 during mid-day trading on Friday, hitting $206.14. 9,543,471 shares of the stock traded hands, compared to its average volume of 3,905,473. The stock has a market capitalization of $127.95 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 1.11 and a beta of 1.16. Lowe’s Companies has a 52 week low of $170.12 and a 52 week high of $260.83. The firm’s 50 day moving average is $200.09 and its two-hundred day moving average is $194.75.
Lowe’s Companies (NYSE:LOW – Get Rating) last issued its quarterly earnings results on Wednesday, November 16th. The home improvement retailer reported $3.27 EPS for the quarter, beating the consensus estimate of $3.11 by $0.16. The company had revenue of $23.48 billion for the quarter, compared to the consensus estimate of $23.16 billion. Lowe’s Companies had a net margin of 6.97% and a negative return on equity of 103.72%. The firm’s revenue was up 2.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.73 EPS. As a group, research analysts predict that Lowe’s Companies will post 13.73 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 8th. Shareholders of record on Wednesday, January 25th will be given a $1.05 dividend. The ex-dividend date is Tuesday, January 24th. This represents a $4.20 annualized dividend and a yield of 2.04%. Lowe’s Companies’s dividend payout ratio (DPR) is 41.14%.
LOW has been the topic of a number of analyst reports. Robert W. Baird lifted their target price on shares of Lowe’s Companies from $230.00 to $250.00 in a research note on Thursday, November 17th. JPMorgan Chase & Co. decreased their price target on shares of Lowe’s Companies from $235.00 to $205.00 in a research note on Friday, November 11th. Piper Sandler boosted their price target on shares of Lowe’s Companies from $248.00 to $253.00 and gave the stock an “overweight” rating in a research note on Thursday, November 17th. Exane BNP Paribas cut shares of Lowe’s Companies from a “neutral” rating to an “underperform” rating and set a $159.00 price target on the stock. in a research note on Wednesday, October 19th. Finally, Cowen began coverage on shares of Lowe’s Companies in a research note on Wednesday, October 19th. They issued a “market perform” rating and a $210.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $231.79.
Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.
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