Soros Capital Management LLC Buys 708 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Soros Capital Management LLC raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 39.3% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,508 shares of the home improvement retailer’s stock after buying an additional 708 shares during the quarter. Soros Capital Management LLC’s holdings in Lowe’s Companies were worth $679,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of LOW. Plato Investment Management Ltd lifted its stake in Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after purchasing an additional 5,470 shares in the last quarter. StoneX Group Inc. bought a new position in shares of Lowe’s Companies in the third quarter worth $2,713,000. HM Payson & Co. increased its holdings in shares of Lowe’s Companies by 1.1% in the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after purchasing an additional 2,322 shares during the period. Daymark Wealth Partners LLC raised its position in shares of Lowe’s Companies by 12.7% in the second 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 in the last quarter. Finally, AMF Tjanstepension AB boosted its stake in Lowe’s Companies by 14.4% during the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after buying an additional 20,123 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $274.48 on Wednesday. Lowe’s Companies, Inc. has a one year low of $196.32 and a one year high of $287.01. The business’s 50 day simple moving average is $269.47 and its two-hundred day simple moving average is $245.47. The stock has a market capitalization of $155.71 billion, a P/E ratio of 22.89, a price-to-earnings-growth ratio of 2.31 and a beta of 1.10.

Lowe’s Companies Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Truist Financial upped their target price on Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, November 20th. UBS Group upped their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Gordon Haskett dropped their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, Telsey Advisory Group restated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research report on Tuesday, November 19th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of 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 position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies 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.