PFG Advisors lowered its position in Lowe's Companies, Inc. (NYSE:LOW – Get Rating) by 50.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,203 shares of the home improvement retailer's stock after selling 1,248 shares during the quarter. PFG Advisors' holdings in Lowe's Companies were worth $210,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors have also bought and sold shares of LOW. ETF Managers Group LLC purchased a new stake in shares of Lowe's Companies during the fourth quarter valued at approximately $925,000. Unigestion Holding SA bought a new position in shares of Lowe's Companies during the fourth quarter valued at approximately $1,367,000. Altavista Wealth Management Inc. raised its holdings in shares of Lowe's Companies by 0.8% during the fourth quarter. Altavista Wealth Management Inc. now owns 44,424 shares of the home improvement retailer's stock valued at $11,483,000 after acquiring an additional 340 shares in the last quarter. Avaii Wealth Management LLC bought a new position in shares of Lowe's Companies during the fourth quarter valued at approximately $318,000. Finally, State Street Corp raised its holdings in shares of Lowe's Companies by 1.0% during the fourth quarter. State Street Corp now owns 30,861,324 shares of the home improvement retailer's stock valued at $7,977,035,000 after acquiring an additional 296,707 shares in the last quarter. Hedge funds and other institutional investors own 74.04% of the company's stock.
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Analyst Ratings Changes
A number of equities analysts recently commented on the company. Jefferies Financial Group upped their target price on Lowe's Companies from $238.00 to $255.00 and gave the company a "buy" rating in a report on Thursday, August 18th. Truist Financial upped their target price on Lowe's Companies from $237.00 to $263.00 and gave the company a "buy" rating in a report on Thursday, August 18th. Wedbush upped their target price on Lowe's Companies from $200.00 to $225.00 and gave the company a "neutral" rating in a report on Thursday, August 18th. Piper Sandler increased their price objective on Lowe's Companies to $248.00 in a report on Monday, August 22nd. Finally, TheStreet upgraded Lowe's Companies from a "c+" rating to a "b" rating in a report on Monday, August 29th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and fifteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $244.05.
Lowe's Companies Price Performance
Lowe's Companies stock opened at $188.13 on Friday. Lowe's Companies, Inc. has a one year low of $170.12 and a one year high of $263.31. The stock has a market capitalization of $116.77 billion, a PE ratio of 14.83, a price-to-earnings-growth ratio of 1.06 and a beta of 1.22. The business's fifty day moving average is $198.07 and its 200 day moving average is $197.50.
Lowe's Companies (NYSE:LOW – Get Rating) last released its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $4.67 EPS for the quarter, beating the consensus estimate of $4.63 by $0.04. Lowe's Companies had a negative return on equity of 155.26% and a net margin of 8.83%. The company had revenue of $27.48 billion for the quarter, compared to analysts' expectations of $28.16 billion. During the same period last year, the firm posted $4.25 earnings per share. Lowe's Companies's revenue was down .3% compared to the same quarter last year. As a group, sell-side analysts expect that Lowe's Companies, Inc. will post 13.51 EPS for the current fiscal year.
Lowe's Companies Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be given a dividend of $1.05 per share. The ex-dividend date is Tuesday, October 18th. This represents a $4.20 annualized dividend and a dividend yield of 2.23%. Lowe's Companies's dividend payout ratio (DPR) is presently 33.10%.
Insider Activity at Lowe's Companies
In related news, EVP Seemantini Godbole sold 11,761 shares of the stock in a transaction on Friday, August 19th. The stock was sold at an average price of $214.37, for a total transaction of $2,521,205.57. Following the sale, the executive vice president now directly owns 26,575 shares of the company's stock, valued at $5,696,882.75. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.24% of the stock is currently owned by insiders.
About Lowe's Companies
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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.
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