Ieq Capital LLC Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Ieq Capital LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 8.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,477 shares of the home improvement retailer’s stock after selling 4,443 shares during the period. Ieq Capital LLC’s holdings in Lowe’s Companies were worth $10,908,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tidemark LLC purchased a new position in Lowe’s Companies in the fourth quarter worth $27,000. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies in the 4th quarter worth about $28,000. Transcendent Capital Group LLC bought a new position in shares of Lowe’s Companies during the 4th quarter valued at about $31,000. Stephens Consulting LLC raised its holdings 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 valued at $32,000 after buying an additional 70 shares in the last quarter. Finally, Keener Financial Planning LLC purchased a new position in shares of Lowe’s Companies during the 1st quarter valued at about $35,000. Institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on LOW. Royal Bank of Canada reduced 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 research report on Wednesday, August 21st. TD Cowen upped their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Thursday. Piper Sandler decreased their target price on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Morgan Stanley upped their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, Truist Financial raised their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the company 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 issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $253.33.

Lowe’s Companies Stock Up 1.7 %

NYSE:LOW opened at $261.01 on Friday. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The stock has a market cap of $148.73 billion, a P/E ratio of 20.96, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. The firm’s fifty day simple moving average is $243.06 and its 200 day simple moving average is $235.27.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the firm posted $4.56 EPS. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies 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 completion of the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

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.