Sei Investments Co. Grows Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Sei Investments Co. lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 2.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 480,491 shares of the home improvement retailer’s stock after acquiring an additional 9,228 shares during the quarter. Sei Investments Co.’s holdings in Lowe’s Companies were worth $105,927,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. Tidemark LLC acquired a new position in Lowe’s Companies during the fourth quarter worth $27,000. Voisard Asset Management Group Inc. acquired a new position in Lowe’s Companies during the 4th quarter worth about $28,000. Keener Financial Planning LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at about $35,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies during the 4th quarter valued at about $31,000. Finally, Stephens Consulting LLC grew its position in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently issued reports on LOW shares. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, August 20th. JPMorgan Chase & Co. decreased their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Piper Sandler cut their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Gordon Haskett decreased their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Finally, Truist Financial boosted their target price on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $253.33.

Lowe’s Companies Trading Down 0.3 %

Shares of Lowe’s Companies stock opened at $260.14 on Friday. The company has a fifty day simple moving average of $243.58 and a 200-day simple moving average of $235.36. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The stock has a market cap of $148.24 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.03 and a beta of 1.10.

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 (EPS) 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 for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the company posted $4.56 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.77%. Lowe’s Companies’s payout ratio is 36.95%.

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.