Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 4.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 72,210 shares of the home improvement retailer’s stock after selling 3,241 shares during the period. Mutual of America Capital Management LLC’s holdings in Lowe’s Companies were worth $15,919,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP lifted its holdings in Lowe’s Companies by 824.6% in the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after acquiring an additional 13,680 shares during the last quarter. Bamco Inc. NY lifted its holdings in Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after acquiring an additional 20,181 shares during the last quarter. Plato Investment Management Ltd lifted its holdings in Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after acquiring an additional 5,470 shares during the last quarter. 17 Capital Partners LLC acquired a new position in Lowe’s Companies in the first quarter valued at approximately $1,368,000. Finally, Gerber LLC acquired a new position in Lowe’s Companies in the fourth quarter valued at approximately $235,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on LOW shares. 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 research note on Wednesday, August 21st. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday, August 20th. DA Davidson decreased their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Wednesday, May 22nd. Truist Financial upped their price target on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, JPMorgan Chase & Co. decreased their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $252.83.

Lowe’s Companies Price Performance

NYSE:LOW opened at $256.76 on Wednesday. The firm has a market capitalization of $146.31 billion, a PE ratio of 20.62, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. The business’s fifty day moving average price is $241.71 and its 200 day moving average price is $234.94. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.56 earnings per share. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. 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 1.79%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

About Lowe’s Companies

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.