Handelsbanken Fonder AB Raises Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Handelsbanken Fonder AB lifted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 174,318 shares of the home improvement retailer’s stock after buying an additional 2,199 shares during the quarter. Handelsbanken Fonder AB’s holdings in Lowe’s Companies were worth $47,214,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies during the 4th quarter worth approximately $28,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies during the fourth quarter worth $31,000. Stephens Consulting LLC grew its holdings in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the last quarter. Keener Financial Planning LLC acquired a new stake in Lowe’s Companies in the first quarter valued at $35,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Lowe’s Companies in the second quarter valued at $37,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 0.9 %

Shares of LOW traded down $2.45 during midday trading on Friday, reaching $267.76. 2,245,752 shares of the company were exchanged, compared to its average volume of 2,478,539. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $274.16. The company has a market cap of $152.58 billion, a price-to-earnings ratio of 21.51, a P/E/G ratio of 2.15 and a beta of 1.10. The stock has a 50-day moving average price of $249.61 and a 200-day moving average price of $237.06.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results 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 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%. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.56 EPS. Equities 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 company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.72%. Lowe’s Companies’s payout ratio is 36.95%.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 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 approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several brokerages have issued reports on LOW. Piper Sandler upped their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Loop Capital increased their target price on Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday. Gordon Haskett cut their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Finally, Wells Fargo & Company reduced their price objective 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. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $263.54.

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.