Lowe’s Companies, Inc. (NYSE:LOW) is Marco Investment Management LLC’s 7th Largest Position

Marco Investment Management LLC trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 106,383 shares of the home improvement retailer’s stock after selling 107 shares during the quarter. Lowe’s Companies accounts for approximately 2.5% of Marco Investment Management LLC’s investment portfolio, making the stock its 7th largest position. Marco Investment Management LLC’s holdings in Lowe’s Companies were worth $28,814,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in LOW. International Assets Investment Management LLC boosted its stake in shares of Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after purchasing an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC lifted its stake in Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after acquiring an additional 1,199,100 shares during the period. Applied Finance Capital Management LLC lifted its stake in Lowe’s Companies by 387.7% in the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after acquiring an additional 645,017 shares during the period. Price T Rowe Associates Inc. MD lifted its stake in Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after acquiring an additional 493,180 shares during the period. Finally, Marshall Wace LLP lifted its stake in Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after acquiring an additional 463,645 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms recently weighed in on LOW. Mizuho upped their price objective on shares of Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday. DA Davidson upped their price objective on shares of Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday. Gordon Haskett lowered their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Piper Sandler upped their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Telsey Advisory Group reaffirmed an “outperform” rating and issued a $305.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, November 19th. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $277.92.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on 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 sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on 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 approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Lowe’s Companies Stock Down 0.2 %

LOW opened at $264.68 on Friday. Lowe’s Companies, Inc. has a 52-week low of $196.23 and a 52-week high of $287.01. The company has a market cap of $150.15 billion, a P/E ratio of 22.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The firm’s 50-day moving average price is $268.74 and its 200-day moving average price is $244.83.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

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.