Clearbridge Investments LLC Raises Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Clearbridge Investments LLC increased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% in the second quarter, HoldingsChannel.com reports. The firm owned 334,326 shares of the home improvement retailer’s stock after acquiring an additional 10,039 shares during the quarter. Clearbridge Investments LLC’s holdings in Lowe’s Companies were worth $73,706,000 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 the stock. Drive Wealth Management LLC lifted its position in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 41 shares during the period. Crown Wealth Group LLC raised its holdings in Lowe’s Companies by 4.4% during the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after purchasing an additional 44 shares during the last quarter. Pure Financial Advisors LLC boosted its position in Lowe’s Companies by 2.5% during the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after purchasing an additional 45 shares in the last quarter. BLB&B Advisors LLC grew its holdings in Lowe’s Companies by 2.2% in the second quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after purchasing an additional 45 shares during the last quarter. Finally, Pathway Financial Advisers LLC raised its stake in shares of Lowe’s Companies by 3.5% during the 2nd quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock worth $292,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction 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 of the company’s stock, valued at $2,334,678.06. The transaction 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.

Lowe’s Companies Stock Down 0.2 %

Lowe’s Companies stock opened at $271.97 on Thursday. The firm has a fifty day moving average of $248.33 and a 200-day moving average of $236.73. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $274.16. The firm has a market capitalization of $154.98 billion, a P/E ratio of 21.84, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results 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. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.56 EPS. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared 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. 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 yield of 1.69%. Lowe’s Companies’s payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LOW. Morgan Stanley increased their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Truist Financial raised their price objective on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Melius Research started coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. Wedbush reiterated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. cut their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $263.54.

Lowe’s Companies Company 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.