Plato Investment Management Ltd Has $1.61 Million Stock Holdings in Lowe's Companies, Inc. (NYSE:LOW) (2024)

Plato Investment Management Ltd boosted its position in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 655.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 6,304 shares of the home improvement retailer's stock after purchasing an additional 5,470 shares during the quarter. Plato Investment Management Ltd's holdings in Lowe's Companies were worth $1,606,000 as of its most recent SEC filing.

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Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in Lowe's Companies during the 4th quarter worth $1,638,746,000. Vanguard Group Inc. lifted its holdings in shares of Lowe's Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer's stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. International Assets Investment Management LLC bought a new stake in Lowe's Companies during the 4th quarter worth approximately $430,090,000. Canoe Financial LP bought a new stake in Lowe's Companies during the 4th quarter worth approximately $206,912,000. Finally, M&G Plc acquired a new stake in Lowe's Companies during the 1st quarter worth approximately $217,995,000. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Down 1.7 %

Shares of LOW traded down $4.15 during mid-day trading on Thursday, hitting $241.36. 1,993,319 shares of the company's stock were exchanged, compared to its average volume of 2,534,753. Lowe's Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The stock's 50-day simple moving average is $224.95 and its 200-day simple moving average is $229.94. The firm has a market cap of $137.54 billion, a price-to-earnings ratio of 19.72, a price-to-earnings-growth ratio of 1.85 and a beta of 1.08.

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Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Tuesday, May 21st. The home improvement retailer reported $3.06 EPS for the quarter, topping analysts' consensus estimates of $2.94 by $0.12. The firm had revenue of $21.36 billion for the quarter, compared to analyst estimates of $21.14 billion. Lowe's Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The company's revenue was down 4.4% on a year-over-year basis. During the same quarter last year, the company earned $3.67 EPS. Analysts forecast that Lowe's Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe's Companies Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 7th. Shareholders of record on Wednesday, July 24th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 0.25%. The ex-dividend date of this dividend is Wednesday, July 24th. Lowe's Companies's dividend payout ratio is currently 36.95%.

Analyst Ratings Changes

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Several equities research analysts have recently issued reports on the stock. Wedbush reissued a "neutral" rating and set a $250.00 price objective on shares of Lowe's Companies in a research report on Wednesday, May 22nd. StockNews.com lowered Lowe's Companies from a "buy" rating to a "hold" rating in a report on Thursday, July 25th. DA Davidson decreased their price objective on Lowe's Companies from $270.00 to $240.00 and set a "neutral" rating for the company in a report on Wednesday, May 22nd. Telsey Advisory Group restated a "market perform" rating and issued a $230.00 target price on shares of Lowe's Companies in a research note on Tuesday, May 21st. Finally, Truist Financial reduced their price target on Lowe's Companies from $271.00 to $265.00 and set a "buy" rating for the company in a research report on Wednesday, May 22nd. Fifteen analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Lowe's Companies presently has a consensus rating of "Hold" and an average price target of $250.04.

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About Lowe's Companies

(Free Report)

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.

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