ASB Consultores LLC Sells 763 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

ASB Consultores LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 43.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 995 shares of the home improvement retailer’s stock after selling 763 shares during the quarter. ASB Consultores LLC’s holdings in Lowe’s Companies were worth $219,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brevan Howard Capital Management LP raised its holdings in shares of Lowe’s Companies by 824.6% in the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after purchasing an additional 13,680 shares during the last quarter. Bamco Inc. NY boosted its stake in shares of Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares during the last quarter. Plato Investment Management Ltd grew its holdings 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 acquiring an additional 5,470 shares in the last quarter. 17 Capital Partners LLC acquired a new stake in shares of Lowe’s Companies in the first quarter valued at about $1,368,000. Finally, Gerber LLC acquired a new position in Lowe’s Companies during the fourth quarter valued at approximately $235,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 approximately $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Down 0.3 %

Shares of NYSE:LOW opened at $260.17 on Friday. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49. The company’s 50 day moving average price is $243.58 and its two-hundred day moving average price is $235.40. The firm has a market cap of $148.25 billion, a PE ratio of 20.90, a PEG ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data 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 firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the company earned $4.56 EPS. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.77%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analysts Set New Price Targets

Several research firms have weighed in on LOW. Wells Fargo & Company lowered their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Telsey Advisory Group reiterated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Royal Bank of Canada lowered their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Bank of America cut 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. Finally, Piper Sandler lowered their price target on 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. Thirteen investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $253.33.

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.