5 Best Housing Stocks to Buy Now

1. Lowe’s Companies, Inc. (NYSE:LOW)

Number of Hedge Fund Holders: 53

Lowe’s Companies, Inc. (NYSE:LOW) is a home improvement company that is one of the oldest of its kind as it was set up in 1921 and is headquartered in Mooresville, North Carolina, the United States. The firm sells a variety of home improvement products such as flooring, hardwood, millwork, paint, and plumbing.

Lowe’s Companies, Inc. (NYSE:LOW) is the second largest home improvement products provider in the world and it has close to 2,000 stores in the U.S. and Canada. The firm’s forward Price to Earnings ratio sits at 14.2x, which is below its historic P/E ratio of 20.8 and indicates that the shares are at a discount. Lowe’s Companies, Inc. (NYSE:LOW) has also grown its dividends at a 19% CAGR over the past five years and investors in the stock are rewarded by a healthy 26% payout ratio. As of the moment, the company pays a $1.05 dividend per share for a 2.12% yield.

Truist raised Lowe’s Companies, Inc. (NYSE:LOW)’s share price target to $263 from $237 in August 2022 as it shared that the firm’s sales and profitability are growing. 53 of the 895 hedge funds part of Insider Monkey’s 895 hedge fund survey for Q2 2022 had held a stake in the company.

Lowe’s Companies, Inc. (NYSE:LOW)’s largest investor is Bill Ackman’s Pershing Square which owns 10 million shares that are worth $1.7 billion.

Disclosure: None. You can also take a look at Top 10 Stock Picks of Mark Gallogly’s Centerbridge Partners and Top 10 Technology Stocks to Buy According to Billionaire Cliff Asness.

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