BLB&B Advisors LLC Has $393,000 Stake in Lowe’s Companies, Inc. (NYSE:LOW)

BLB&B Advisors LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 29.6% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,452 shares of the home improvement retailer’s stock after selling 610 shares during the quarter. BLB&B Advisors LLC’s holdings in Lowe’s Companies were worth $393,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LOW. Vanguard Group Inc. raised its position in Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after buying an additional 2,674,372 shares during the last quarter. Legal & General Group Plc grew its stake in shares of Lowe’s Companies by 1.6% in the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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. Envestnet Asset Management Inc. lifted its position in shares of Lowe’s Companies by 6.0% during the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after purchasing an additional 90,945 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in Lowe’s Companies by 11.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,499,015 shares of the home improvement retailer’s stock worth $330,473,000 after purchasing an additional 149,649 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Down 0.4 %

Lowe’s Companies stock opened at $270.11 on Thursday. The firm’s 50 day simple moving average is $259.66 and its 200 day simple moving average is $239.47. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $287.01. The firm has a market capitalization of $153.92 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data 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. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the business posted $4.56 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. Research analysts forecast that Lowe’s Companies, Inc. will post 11.91 earnings per share 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. Investors of record on Wednesday, October 23rd will be paid a $1.15 dividend. This is an increase 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 1.70%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

LOW has been the subject of several analyst reports. Sanford C. Bernstein started coverage on shares of Lowe’s Companies in a research note on Tuesday. They issued an “outperform” rating and a $323.00 price objective for the company. Piper Sandler lifted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Telsey Advisory Group upped their price objective on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. JPMorgan Chase & Co. lowered their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, Truist Financial increased their price target on shares of Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.60.

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.