Thrivent Financial for Lutherans Cuts Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Thrivent Financial for Lutherans reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the second quarter, Holdings Channel reports. The institutional investor owned 464,170 shares of the home improvement retailer’s stock after selling 3,014 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lowe’s Companies were worth $102,331,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Sei Investments Co. grew its position in Lowe’s Companies by 2.0% during the 2nd quarter. Sei Investments Co. now owns 480,491 shares of the home improvement retailer’s stock worth $105,927,000 after acquiring an additional 9,228 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Lowe’s Companies by 1.2% during the second quarter. Pacer Advisors Inc. now owns 41,091 shares of the home improvement retailer’s stock valued at $9,059,000 after purchasing an additional 488 shares during the period. AE Wealth Management LLC grew its holdings in shares of Lowe’s Companies by 52.7% in the second quarter. AE Wealth Management LLC now owns 18,268 shares of the home improvement retailer’s stock worth $4,027,000 after purchasing an additional 6,305 shares during the last quarter. Bridges Investment Management Inc. grew its holdings in shares of Lowe’s Companies by 164.8% in the second quarter. Bridges Investment Management Inc. now owns 375,240 shares of the home improvement retailer’s stock worth $82,725,000 after purchasing an additional 233,522 shares during the last quarter. Finally, Promethos Capital LLC raised its holdings in Lowe’s Companies by 117.3% during the 2nd quarter. Promethos Capital LLC now owns 9,560 shares of the home improvement retailer’s stock valued at $2,108,000 after buying an additional 5,160 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The stock was 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 of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. cut their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. TD Cowen raised their target price on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday. Wells Fargo & Company lowered their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Bank of America cut their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, 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. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $253.33.

Lowe’s Companies Trading Down 0.3 %

NYSE LOW opened at $260.14 on Friday. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The stock’s fifty day moving average price is $243.58 and its 200-day moving average price is $235.36. The stock has a market cap of $148.24 billion, a P/E ratio of 20.89, a P/E/G ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The company 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%. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.56 EPS. As a group, 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 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 dividend on an annualized basis and a yield of 1.77%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 36.95%.

Lowe’s Companies 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.