Thrivent Financial for Lutherans Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Thrivent Financial for Lutherans lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 464,170 shares of the home improvement retailer’s stock after selling 3,014 shares during the quarter. Thrivent Financial for Lutherans owned 0.08% of Lowe’s Companies worth $102,331,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Tidemark LLC bought a new stake in Lowe’s Companies during the fourth quarter worth $27,000. Voisard Asset Management Group Inc. bought a new position in Lowe’s Companies in the 4th quarter valued at $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at $31,000. Stephens Consulting LLC raised its stake in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. Finally, Keener Financial Planning LLC purchased a new position in shares of Lowe’s Companies in the 1st quarter worth about $35,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on 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 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 SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Stock Down 0.3 %

Lowe’s Companies stock opened at $260.14 on Friday. The business has a 50-day simple moving average of $243.58 and a 200 day simple moving average of $235.36. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $262.49. The stock has a market cap of $148.24 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during 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%. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.56 earnings per share. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend 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 (DPR) is 36.95%.

Analyst Ratings Changes

Several analysts have commented on LOW shares. Evercore ISI lifted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 21st. Royal Bank of Canada lowered their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. 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 report on Wednesday, August 21st. UBS Group boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Truist Financial increased their price target on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Thirteen research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Hold” and an average target price of $253.33.

About Lowe’s Companies

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.