iA Global Asset Management Inc. Sells 20,511 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

iA Global Asset Management Inc. decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 15.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 115,645 shares of the home improvement retailer’s stock after selling 20,511 shares during the quarter. iA Global Asset Management Inc.’s holdings in Lowe’s Companies were worth $25,495,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. Tidemark LLC bought a new stake in Lowe’s Companies in the fourth quarter valued at $27,000. Voisard Asset Management Group Inc. bought a new stake in Lowe’s Companies in the 4th quarter valued at about $28,000. Transcendent Capital Group LLC acquired a new position in Lowe’s Companies during the 4th quarter worth approximately $31,000. Stephens Consulting LLC boosted its holdings in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares in the last quarter. Finally, Pacific Capital Wealth Advisors Inc. acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $33,000. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Stifel Nicolaus raised their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company a “hold” rating in a research note on Monday, May 13th. Morgan Stanley upped their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company dropped their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, Truist Financial upped their target price on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $254.04.

Lowe’s Companies Price Performance

Shares of LOW traded up $1.73 during mid-day trading on Friday, hitting $248.50. The stock had a trading volume of 2,517,048 shares, compared to its average volume of 2,522,403. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The business has a fifty day moving average price of $233.68 and a 200-day moving average price of $233.32. The firm has a market cap of $141.60 billion, a P/E ratio of 19.96, a PEG ratio of 1.85 and a beta of 1.07.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 48.52% and a net margin of 8.46%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the business posted $4.56 EPS. As a group, research analysts expect that Lowe’s Companies, Inc. will post 12.23 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.85%. Lowe’s Companies’s dividend payout ratio is presently 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.