Sfmg LLC Lowers Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Sfmg LLC lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 10.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,054 shares of the home improvement retailer’s stock after selling 569 shares during the period. Sfmg LLC’s holdings in Lowe’s Companies were worth $1,114,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LOW. 9258 Wealth Management LLC grew its position in Lowe’s Companies by 24.8% during the fourth quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock valued at $531,000 after acquiring an additional 474 shares during the period. Gryphon Financial Partners LLC lifted its stake in shares of Lowe’s Companies by 10.6% during the fourth quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock worth $315,000 after purchasing an additional 138 shares in the last quarter. Mitchell Sinkler & Starr PA lifted its stake in shares of Lowe’s Companies by 142.1% during the fourth quarter. Mitchell Sinkler & Starr PA now owns 2,385 shares of the home improvement retailer’s stock worth $531,000 after purchasing an additional 1,400 shares in the last quarter. Edmond DE Rothschild Holding S.A. lifted its stake in shares of Lowe’s Companies by 4.4% during the fourth quarter. Edmond DE Rothschild Holding S.A. now owns 12,647 shares of the home improvement retailer’s stock worth $2,815,000 after purchasing an additional 538 shares in the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter worth about $575,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on the company. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Morgan Stanley boosted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Truist Financial boosted their price objective 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. Bank of America reduced their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Finally, Evercore ISI boosted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $258.13.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Up 1.5 %

Shares of NYSE LOW opened at $266.26 on Wednesday. The stock’s 50 day moving average price is $244.69 and its two-hundred day moving average price is $235.64. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $268.09. The stock has a market capitalization of $151.05 billion, a P/E ratio of 21.39, a PEG ratio of 2.15 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 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the prior year, the firm posted $4.56 earnings per share. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. 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 dividend yield of 1.73%. Lowe’s Companies’s dividend 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.