Sanctuary Advisors LLC Invests $38.90 Million in Lowe’s Companies, Inc. (NYSE:LOW)

Sanctuary Advisors LLC bought a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 169,244 shares of the home improvement retailer’s stock, valued at approximately $38,904,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after buying an additional 2,674,372 shares in the last quarter. Strategic Financial Concepts LLC grew its holdings in shares of Lowe’s Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after buying an additional 1,199,100 shares in the last quarter. M&G Plc purchased a new position in shares of Lowe’s Companies during the 1st quarter worth $217,995,000. Pathstone Holdings LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at $126,615,000. Finally, Price T Rowe Associates Inc. MD increased its stake in Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after purchasing an additional 493,180 shares during 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 Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value 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 transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 0.7 %

Shares of LOW opened at $272.65 on Wednesday. The stock has a market cap of $155.37 billion, a P/E ratio of 21.90, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The stock’s 50-day moving average price is $247.52 and its two-hundred day moving average price is $236.48. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $274.16.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.56 EPS. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Piper Sandler boosted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday. Bank of America dropped their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Royal Bank of Canada reduced their target price 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. Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Finally, Gordon Haskett decreased their price target 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. Eleven analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and an average price target of $260.00.

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.