Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by ProShare Advisors LLC

ProShare Advisors LLC trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 835,867 shares of the home improvement retailer’s stock after selling 45,384 shares during the quarter. ProShare Advisors LLC owned approximately 0.15% of Lowe’s Companies worth $184,275,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Legacy Financial Advisors Inc. increased its stake in Lowe’s Companies by 3.0% in the second quarter. Legacy Financial Advisors Inc. now owns 2,957 shares of the home improvement retailer’s stock valued at $652,000 after purchasing an additional 85 shares during the last quarter. Summit Trail Advisors LLC increased its stake in Lowe’s Companies by 38.5% in the second quarter. Summit Trail Advisors LLC now owns 10,171 shares of the home improvement retailer’s stock valued at $2,242,000 after purchasing an additional 2,827 shares during the last quarter. Sei Investments Co. increased its stake in Lowe’s Companies by 2.0% in the second quarter. Sei Investments Co. now owns 480,491 shares of the home improvement retailer’s stock valued at $105,927,000 after purchasing an additional 9,228 shares during the last quarter. Pacer Advisors Inc. increased its stake in Lowe’s Companies by 1.2% in the second quarter. Pacer Advisors Inc. now owns 41,091 shares of the home improvement retailer’s stock valued at $9,059,000 after purchasing an additional 488 shares during the last quarter. Finally, AE Wealth Management LLC increased its stake in Lowe’s Companies by 52.7% in the second quarter. AE Wealth Management LLC now owns 18,268 shares of the home improvement retailer’s stock valued at $4,027,000 after purchasing an additional 6,305 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies 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 stock was 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

LOW has been the subject of several analyst reports. JPMorgan Chase & Co. dropped their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. TD Cowen boosted their price target on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research report on Thursday. Telsey Advisory Group reissued a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Evercore ISI boosted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Finally, Wells Fargo & Company lowered their price target on Lowe’s Companies from $290.00 to $280.00 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. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $253.33.

Lowe’s Companies Stock Performance

Shares of LOW opened at $260.14 on Friday. The company has a market capitalization of $148.24 billion, a P/E ratio of 20.89, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The stock has a 50-day moving average price of $243.58 and a 200 day moving average price of $235.36.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates 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 revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $4.56 earnings per share. As a group, equities research 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 company also recently disclosed 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. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.77%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. 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.