Ieq Capital LLC Lowers Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Ieq Capital LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 8.2% during the second quarter, HoldingsChannel reports. The fund owned 49,477 shares of the home improvement retailer’s stock after selling 4,443 shares during the period. Ieq Capital LLC’s holdings in Lowe’s Companies were worth $10,908,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 9258 Wealth Management LLC grew its holdings in shares of Lowe’s Companies by 24.8% during the fourth quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock valued at $531,000 after buying an additional 474 shares during the last quarter. Gryphon Financial Partners LLC lifted its position in Lowe’s Companies by 10.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock valued at $315,000 after acquiring an additional 138 shares in the last quarter. TrinityPoint Wealth LLC boosted its stake in Lowe’s Companies by 1.5% during the 4th quarter. TrinityPoint Wealth LLC now owns 6,887 shares of the home improvement retailer’s stock valued at $1,533,000 after purchasing an additional 101 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Lowe’s Companies in the 4th quarter worth $402,000. Finally, EverSource Wealth Advisors LLC raised its stake in shares of Lowe’s Companies by 29.3% in the fourth quarter. EverSource Wealth Advisors LLC now owns 3,034 shares of the home improvement retailer’s stock worth $675,000 after purchasing an additional 687 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on LOW shares. TD Cowen increased their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research report on Thursday. Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Piper Sandler lowered their price objective on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. UBS Group raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Bank of America decreased their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Thirteen analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Hold” and a consensus price target of $253.33.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $261.01 on Friday. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The company’s fifty day moving average price is $243.06 and its 200-day moving average price is $235.27. The company has a market capitalization of $148.73 billion, a price-to-earnings ratio of 20.96, a PEG 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 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 business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the business posted $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. Equities research analysts expect 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 declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost 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 1.76%. Lowe’s Companies’s payout ratio is currently 36.95%.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a document filed with the SEC, which is available at 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.