Trust Investment Advisors Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Trust Investment Advisors boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,422 shares of the home improvement retailer’s stock after purchasing an additional 54 shares during the quarter. Trust Investment Advisors’ holdings in Lowe’s Companies were worth $975,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of LOW. Brevan Howard Capital Management LP grew its stake in Lowe’s Companies by 824.6% in the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after acquiring an additional 13,680 shares during the period. Bamco Inc. NY increased its stake in shares of Lowe’s Companies by 10.3% during the first 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 in the last quarter. Plato Investment Management Ltd raised its position in shares of Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after purchasing an additional 5,470 shares during the last quarter. 17 Capital Partners LLC purchased a new position in Lowe’s Companies in the 1st quarter valued at about $1,368,000. Finally, Gerber LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at about $235,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 1.7 %

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

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, topping the consensus estimate 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 company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the firm posted $4.56 earnings per share. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. Research analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.76%. 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 (DPR) is 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have commented on LOW. Gordon Haskett reduced their target price 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. Evercore ISI increased their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Piper Sandler lowered 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 note on Wednesday, August 21st. Royal Bank of Canada reduced their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Finally, Truist Financial raised their price target on shares of 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 investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $253.33.

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.