Profund Advisors LLC Has $2.41 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Profund Advisors LLC decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 17.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,920 shares of the home improvement retailer’s stock after selling 2,363 shares during the quarter. Profund Advisors LLC’s holdings in Lowe’s Companies were worth $2,407,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in LOW. 9258 Wealth Management LLC increased its position in shares of Lowe’s Companies by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock worth $531,000 after purchasing an additional 474 shares during the period. Gryphon Financial Partners LLC increased its position in shares of Lowe’s Companies by 10.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock worth $315,000 after purchasing an additional 138 shares during the period. TrinityPoint Wealth LLC increased its position in shares of Lowe’s Companies by 1.5% in the fourth quarter. TrinityPoint Wealth LLC now owns 6,887 shares of the home improvement retailer’s stock worth $1,533,000 after purchasing an additional 101 shares during the period. Congress Wealth Management LLC DE increased its position in shares of Lowe’s Companies by 14.0% in the fourth quarter. Congress Wealth Management LLC DE now owns 15,361 shares of the home improvement retailer’s stock worth $3,419,000 after purchasing an additional 1,882 shares during the period. Finally, Hsbc Holdings PLC increased its position in shares of Lowe’s Companies by 1.4% in the fourth quarter. Hsbc Holdings PLC now owns 1,033,887 shares of the home improvement retailer’s stock worth $230,037,000 after purchasing an additional 14,522 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Telsey Advisory Group restated a “market perform” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Evercore ISI lifted their target price 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. Wells Fargo & Company decreased their target price 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. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Royal Bank of Canada decreased their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $253.48.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $260.14 on Monday. The company has a market capitalization of $148.24 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. The business has a fifty day moving average price of $243.58 and a two-hundred day moving average price of $235.32. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data 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 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%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.56 EPS. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share 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. Shareholders 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 1.77%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction 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 transaction, 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 Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.26% of the company’s stock.

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.