Ensign Peak Advisors Inc Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

Ensign Peak Advisors Inc trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.9% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 454,536 shares of the home improvement retailer’s stock after selling 13,355 shares during the quarter. Ensign Peak Advisors Inc owned 0.08% of Lowe’s Companies worth $100,207,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. increased its position in shares of Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after acquiring an additional 2,674,372 shares during the last quarter. Schroder Investment Management Group increased its holdings in Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after buying an additional 52,859 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after buying an additional 493,180 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after acquiring an additional 90,945 shares during the period. Finally, The Manufacturers Life Insurance Company boosted its stake in Lowe’s Companies by 14.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,516,347 shares of the home improvement retailer’s stock valued at $337,463,000 after acquiring an additional 194,070 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions 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 transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Down 0.3 %

Shares of NYSE:LOW opened at $260.17 on Friday. The stock has a market capitalization of $148.25 billion, a PE ratio of 20.90, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49. The firm has a fifty day moving average price of $243.58 and a 200 day moving average price of $235.40.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion during 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 quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.56 earnings per share. On average, sell-side analysts forecast 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 given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 36.95%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on LOW shares. Piper Sandler decreased their target price on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Truist Financial lifted 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. Morgan Stanley boosted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. UBS Group boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. reduced their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $253.33.

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.