Lowe’s Companies, Inc. (NYSE:LOW) Stake Lowered by Deseret Mutual Benefit Administrators

Deseret Mutual Benefit Administrators decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,278 shares of the home improvement retailer’s stock after selling 83 shares during the period. Deseret Mutual Benefit Administrators’ holdings in Lowe’s Companies were worth $1,159,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares during the period. Legal & General Group Plc boosted its stake in Lowe’s Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after purchasing an additional 82,978 shares during the period. International Assets Investment Management LLC grew its position in 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 purchasing an additional 2,027,668 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 valued at $468,884,000 after purchasing an additional 493,180 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Lowe’s Companies by 6.0% during the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after buying an additional 90,945 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

LOW has been the subject of a number of recent analyst reports. Piper Sandler increased their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Telsey Advisory Group lifted their price objective on shares of Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Bank of America increased 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. Finally, Truist Financial boosted their price target on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $272.20.

Insider Transactions at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on 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 directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Trading Down 0.1 %

Shares of LOW opened at $261.50 on Thursday. The business’s 50-day moving average price is $263.77 and its 200 day moving average price is $241.67. The stock has a market capitalization of $148.35 billion, a P/E ratio of 21.70, a P/E/G ratio of 2.18 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $189.05 and a 1-year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm posted $4.56 earnings per share. On average, research analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current 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 issued 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 dividend yield of 1.76%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

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.