Boltwood Capital Management Sells 353 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Boltwood Capital Management lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 2.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,916 shares of the home improvement retailer’s stock after selling 353 shares during the period. Lowe’s Companies makes up approximately 1.0% of Boltwood Capital Management’s investment portfolio, making the stock its 25th biggest holding. Boltwood Capital Management’s holdings in Lowe’s Companies were worth $3,498,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the business. Brevan Howard Capital Management LP lifted its holdings in 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 buying an additional 13,680 shares in the last quarter. Bamco Inc. NY grew its stake in Lowe’s Companies by 10.3% in the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after acquiring an additional 20,181 shares in the last quarter. Plato Investment Management Ltd increased its position in shares of Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after acquiring an additional 5,470 shares during the period. 17 Capital Partners LLC bought a new stake in shares of Lowe’s Companies during the first quarter valued at approximately $1,368,000. Finally, Gerber LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $235,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the topic of several research reports. Truist Financial raised their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Melius Research started coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective for the company. Loop Capital raised their target price on shares of Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a research note on Wednesday. Bank of America reduced their price target on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $263.54.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Trading Down 0.2 %

Shares of LOW opened at $271.97 on Thursday. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $274.16. The firm has a market capitalization of $154.98 billion, a P/E ratio of 21.84, a PEG ratio of 2.15 and a beta of 1.10. The firm’s 50-day moving average is $248.33 and its two-hundred day moving average is $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 for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the business posted $4.56 EPS. Analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS 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. Investors of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.69%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.