Passive Capital Management LLC. Sells 305 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Passive Capital Management LLC. lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 9.5% during the 2nd quarter, Holdings Channel reports. The firm owned 2,911 shares of the home improvement retailer’s stock after selling 305 shares during the period. Passive Capital Management LLC.’s holdings in Lowe’s Companies were worth $642,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Brevan Howard Capital Management LP boosted its holdings in shares of Lowe’s Companies by 824.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after purchasing an additional 13,680 shares during the last quarter. Bamco Inc. NY grew its holdings in Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after buying an additional 20,181 shares in the last quarter. Plato Investment Management Ltd grew its holdings in Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after buying an additional 5,470 shares in the last quarter. 17 Capital Partners LLC bought a new stake in Lowe’s Companies in the 1st quarter worth approximately $1,368,000. Finally, Gerber LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $235,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

LOW has been the subject of a number of recent research reports. Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 21st. TD Cowen lifted their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. Wells Fargo & Company decreased their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Bank of America lowered their price target on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. Finally, Piper Sandler boosted their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.54.

Lowe’s Companies Trading Down 0.2 %

Shares of LOW opened at $271.97 on Thursday. The firm has a market capitalization of $154.98 billion, a P/E ratio of 21.84, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $274.16. The firm has a fifty day moving average price of $248.33 and a 200-day moving average price of $236.73.

Lowe’s Companies (NYSE:LOW) last released 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. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the previous year, the company earned $4.56 EPS. Analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.69%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies 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.