MTM Investment Management LLC Has $11.82 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

MTM Investment Management LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 44,133 shares of the home improvement retailer’s stock after selling 194 shares during the period. Lowe’s Companies comprises about 4.6% of MTM Investment Management LLC’s portfolio, making the stock its biggest position. MTM Investment Management LLC’s holdings in Lowe’s Companies were worth $11,817,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc raised its stake in Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after buying an additional 82,978 shares during the last quarter. Ontario Teachers Pension Plan Board raised its position in shares of Lowe’s Companies by 1.6% in the 3rd quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock worth $634,700,000 after acquiring an additional 36,054 shares in the last quarter. International Assets Investment Management LLC raised its position in shares of Lowe’s Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after acquiring an additional 2,027,668 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after purchasing an additional 493,180 shares during the period. Finally, Envestnet Asset Management Inc. boosted its position in shares of Lowe’s Companies by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after purchasing an additional 90,945 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $259.23 on Wednesday. The stock has a market cap of $147.06 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. Lowe’s Companies, Inc. has a fifty-two week low of $196.23 and a fifty-two week high of $287.01. The firm’s 50-day simple moving average is $267.97 and its 200 day simple moving average is $244.23.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during 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%. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the company posted $4.56 earnings per share. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.77%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

Insiders Place Their Bets

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value 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 $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

LOW has been the subject of a number of research analyst reports. UBS Group lifted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Melius Research initiated coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective for the company. Bank of America boosted their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Truist Financial raised their price target on shares of Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.84.

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.