Brown Brothers Harriman & Co. Has $6.25 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Brown Brothers Harriman & Co. grew its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% in the second quarter, HoldingsChannel reports. The institutional investor owned 28,331 shares of the home improvement retailer’s stock after acquiring an additional 442 shares during the period. Brown Brothers Harriman & Co.’s holdings in Lowe’s Companies were worth $6,246,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brevan Howard Capital Management LP boosted its stake in Lowe’s Companies by 824.6% in 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 buying an additional 13,680 shares in the last quarter. Bamco Inc. NY lifted its holdings in shares of Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after acquiring an additional 20,181 shares during the period. Plato Investment Management Ltd boosted its stake in shares of Lowe’s Companies by 655.9% in 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 purchasing an additional 5,470 shares in the last quarter. 17 Capital Partners LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter worth about $1,368,000. Finally, Gerber LLC acquired a new stake in shares of Lowe’s Companies during the 4th quarter worth about $235,000. 74.06% of the stock is owned by institutional investors.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred 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 directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the subject of several recent analyst reports. 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 report on Wednesday, August 21st. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a report on Tuesday, August 20th. Gordon Haskett cut their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. UBS Group increased their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Morgan Stanley lifted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Stock Up 0.5 %

Shares of LOW stock opened at $256.64 on Tuesday. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49. The company’s fifty day simple moving average is $240.90 and its 200-day simple moving average is $234.86. The firm has a market cap of $146.24 billion, a PE ratio of 20.61, a P/E/G ratio of 2.03 and a beta of 1.10.

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

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.79%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

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.