AlTi Global Inc. Sells 653 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

AlTi Global Inc. lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 4.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 15,521 shares of the home improvement retailer’s stock after selling 653 shares during the period. AlTi Global Inc.’s holdings in Lowe’s Companies were worth $3,422,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Voisard Asset Management Group Inc. bought a new position in Lowe’s Companies in the fourth quarter worth approximately $28,000. Transcendent Capital Group LLC bought a new position in Lowe’s Companies in the fourth quarter worth approximately $31,000. Stephens Consulting LLC boosted its holdings in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares in the last quarter. Keener Financial Planning LLC bought a new position in shares of Lowe’s Companies in the first quarter valued at approximately $35,000. Finally, Raleigh Capital Management Inc. lifted its holdings in shares of Lowe’s Companies by 48.8% in the fourth quarter. Raleigh Capital Management Inc. now owns 183 shares of the home improvement retailer’s stock valued at $41,000 after purchasing an additional 60 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $266.26 on Wednesday. The stock has a market cap of $151.05 billion, a PE ratio of 21.39, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $268.09. The stock has a fifty day moving average of $244.69 and a 200-day moving average of $235.64.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 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 business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the business earned $4.56 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.73%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 36.95%.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on LOW shares. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Piper Sandler dropped their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Royal Bank of Canada dropped their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Morgan Stanley lifted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $258.13.

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.