Absoluto Partners Gestao de Recursos Ltda Sells 1,196 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Absoluto Partners Gestao de Recursos Ltda lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 16.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 5,989 shares of the home improvement retailer’s stock after selling 1,196 shares during the quarter. Lowe’s Companies makes up 0.8% of Absoluto Partners Gestao de Recursos Ltda’s holdings, making the stock its 18th biggest position. Absoluto Partners Gestao de Recursos Ltda’s holdings in Lowe’s Companies were worth $1,320,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of LOW. Caxton Associates LP purchased a new position in shares of Lowe’s Companies during the second quarter valued at approximately $1,276,000. Insigneo Advisory Services LLC lifted its stake in shares of Lowe’s Companies by 337.5% during the 2nd quarter. Insigneo Advisory Services LLC now owns 6,974 shares of the home improvement retailer’s stock worth $1,653,000 after acquiring an additional 5,380 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its stake in shares of Lowe’s Companies by 59.1% during the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 109,597 shares of the home improvement retailer’s stock worth $24,162,000 after acquiring an additional 40,701 shares during the last quarter. Distillate Capital Partners LLC purchased a new position in Lowe’s Companies during the 2nd quarter valued at $25,471,000. Finally, Mill Creek Capital Advisors LLC grew its position in Lowe’s Companies by 2.7% in the 2nd quarter. Mill Creek Capital Advisors LLC now owns 5,239 shares of the home improvement retailer’s stock valued at $1,155,000 after acquiring an additional 139 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the company. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Morgan Stanley boosted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $230.00 to $305.00 in a research report on Tuesday. Truist Financial lifted their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Gordon Haskett dropped their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $258.13.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The stock was 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 directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $266.26 on Wednesday. The business has a fifty day moving average price of $244.69 and a 200-day moving average price of $235.64. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $268.09. The stock has a market capitalization of $151.05 billion, a price-to-earnings ratio of 21.39, a PEG ratio of 2.15 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 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 for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the firm earned $4.56 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. 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 dividend on an annualized basis and a yield of 1.73%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Lowe’s Companies Company 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.