Lowe’s Companies, Inc. (NYSE:LOW) Stake Decreased by Mutual Advisors LLC

Mutual Advisors LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,362 shares of the home improvement retailer’s stock after selling 644 shares during the quarter. Mutual Advisors LLC’s holdings in Lowe’s Companies were worth $3,083,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Crew Capital Management Ltd. boosted its holdings in Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after purchasing an additional 37 shares during the period. Summit Place Financial Advisors LLC lifted its stake in shares of Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 37 shares during the period. Clean Yield Group grew its position in Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after buying an additional 38 shares in the last quarter. Drive Wealth Management LLC increased its stake in Lowe’s Companies by 2.2% during the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 41 shares during the period. Finally, Chapin Davis Inc. raised its holdings in Lowe’s Companies by 1.3% in the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after acquiring an additional 41 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on LOW shares. Sanford C. Bernstein began coverage on Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 target price for the company. Telsey Advisory Group upped their target price on shares of Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company dropped their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Finally, Truist Financial raised their target price on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $271.60.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Performance

LOW opened at $261.54 on Thursday. Lowe’s Companies, Inc. has a 52 week low of $187.77 and a 52 week high of $287.01. The company has a fifty day moving average price of $262.14 and a two-hundred day moving average price of $240.45. The firm has a market capitalization of $149.03 billion, a PE ratio of 21.01, a P/E/G ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the prior year, the business posted $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. Equities analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. Lowe’s Companies’s payout ratio is 36.95%.

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.