Rathbones Group PLC Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Rathbones Group PLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,785 shares of the home improvement retailer’s stock after selling 60 shares during the period. Rathbones Group PLC’s holdings in Lowe’s Companies were worth $2,378,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Drive Wealth Management LLC grew its stake 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 worth $418,000 after purchasing an additional 41 shares during the period. Crown Wealth Group LLC increased its holdings in Lowe’s Companies by 4.4% in the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock valued at $232,000 after buying an additional 44 shares in the last quarter. Pure Financial Advisors LLC lifted its position in shares of Lowe’s Companies by 2.5% during the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after acquiring an additional 45 shares during the period. BLB&B Advisors LLC lifted its position in shares of Lowe’s Companies by 2.2% during the 2nd quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after acquiring an additional 45 shares during the period. Finally, First Bank & Trust boosted its stake in shares of Lowe’s Companies by 3.1% during the 1st quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock worth $384,000 after acquiring an additional 46 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on LOW shares. Piper Sandler reduced their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. UBS Group boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Morgan Stanley raised their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. DA Davidson lowered their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. Finally, Truist Financial upped their target price on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $252.83.

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 that occurred 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 completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $256.64 on Tuesday. The company has a market cap of $146.24 billion, a P/E ratio of 20.61, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The business’s 50-day simple moving average is $240.90 and its 200 day simple moving average is $234.86.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for 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 business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.56 earnings per share. Analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current 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 issued a dividend of $1.15 per share. 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. This represents a $4.60 annualized dividend and a yield of 1.79%. Lowe’s Companies’s 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.