Virtu Financial LLC Purchases 99 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Virtu Financial LLC grew its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,296 shares of the home improvement retailer’s stock after acquiring an additional 99 shares during the quarter. Virtu Financial LLC’s holdings in Lowe’s Companies were worth $727,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Brevan Howard Capital Management LP raised its position in shares of Lowe’s Companies by 824.6% during the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after acquiring an additional 13,680 shares during the last quarter. Bamco Inc. NY raised its stake in shares of Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after purchasing an additional 20,181 shares during the period. Plato Investment Management Ltd boosted its stake in Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after acquiring an additional 5,470 shares during the last quarter. 17 Capital Partners LLC purchased a new position in Lowe’s Companies in the first quarter valued at approximately $1,368,000. Finally, Gerber LLC purchased a new position in shares of Lowe’s Companies during the 4th quarter valued at $235,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages recently commented on LOW. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday. Piper Sandler dropped their price target on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Bank of America cut their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Telsey Advisory Group reiterated 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. Finally, JPMorgan Chase & Co. reduced their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $253.33.

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 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 at this link. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

LOW stock opened at $261.01 on Friday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49. The firm has a 50 day moving average price of $243.06 and a 200-day moving average price of $235.27. The firm has a market capitalization of $148.73 billion, a price-to-earnings ratio of 20.96, a PEG ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (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 the consensus estimate 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 revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.56 earnings per share. As a group, 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 announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a positive change 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 dividend on an annualized basis and a dividend yield of 1.76%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

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.