Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Federated Hermes Inc.

Federated Hermes Inc. decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 80,894 shares of the home improvement retailer’s stock after selling 691 shares during the quarter. Federated Hermes Inc.’s holdings in Lowe’s Companies were worth $17,834,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Pinkerton Retirement Specialists LLC increased its holdings in shares of Lowe’s Companies by 6.5% during the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 12,903 shares of the home improvement retailer’s stock valued at $2,844,000 after purchasing an additional 789 shares in the last quarter. TradeLink Capital LLC purchased a new position in Lowe’s Companies in the second quarter valued at $397,000. Meeder Advisory Services Inc. raised its position in shares of Lowe’s Companies by 35.6% in the second quarter. Meeder Advisory Services Inc. now owns 14,057 shares of the home improvement retailer’s stock worth $3,099,000 after acquiring an additional 3,688 shares during the period. DekaBank Deutsche Girozentrale boosted its stake in shares of Lowe’s Companies by 0.3% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 209,846 shares of the home improvement retailer’s stock worth $45,961,000 after acquiring an additional 594 shares in the last quarter. Finally, D Orazio & Associates Inc. boosted its stake in shares of Lowe’s Companies by 2.1% during the 2nd quarter. D Orazio & Associates Inc. now owns 4,401 shares of the home improvement retailer’s stock worth $970,000 after acquiring an additional 90 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

NYSE:LOW opened at $255.41 on Monday. The company’s 50-day moving average is $240.11 and its two-hundred day moving average is $234.75. The firm has a market capitalization of $144.89 billion, a price-to-earnings ratio of 20.51, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year 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 for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the business posted $4.56 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. 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 yield of 1.80%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is 36.95%.

Analyst Upgrades and Downgrades

LOW has been the subject of a number of analyst reports. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, August 20th. UBS Group lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Gordon Haskett reduced 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 report on Wednesday, August 21st. Finally, Truist Financial lifted their target price on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Hold” and an average target price of $252.83.

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.