King Luther Capital Management Corp Sells 736 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

King Luther Capital Management Corp trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 62,391 shares of the home improvement retailer’s stock after selling 736 shares during the quarter. King Luther Capital Management Corp’s holdings in Lowe’s Companies were worth $13,755,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of LOW. Bridges Investment Management Inc. grew its position in Lowe’s Companies by 164.8% in the 2nd quarter. Bridges Investment Management Inc. now owns 375,240 shares of the home improvement retailer’s stock worth $82,725,000 after purchasing an additional 233,522 shares during the last quarter. Promethos Capital LLC raised its position in shares of Lowe’s Companies by 117.3% during the second quarter. Promethos Capital LLC now owns 9,560 shares of the home improvement retailer’s stock valued at $2,108,000 after buying an additional 5,160 shares during the last quarter. Canada Pension Plan Investment Board lifted its stake in shares of Lowe’s Companies by 52.9% in the second quarter. Canada Pension Plan Investment Board now owns 508,678 shares of the home improvement retailer’s stock valued at $112,143,000 after buying an additional 176,048 shares during the period. Benjamin F. Edwards & Company Inc. grew its position in Lowe’s Companies by 6.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 64,690 shares of the home improvement retailer’s stock worth $14,262,000 after buying an additional 3,769 shares in the last quarter. Finally, Trust Investment Advisors increased its stake in Lowe’s Companies by 1.2% during the second quarter. Trust Investment Advisors now owns 4,422 shares of the home improvement retailer’s stock valued at $975,000 after acquiring an additional 54 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 completion of the sale, 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 at this hyperlink. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $260.17 on Friday. The business has a fifty day moving average of $243.58 and a 200-day moving average of $235.40. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The firm has a market cap of $148.25 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping 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 prior year, the firm earned $4.56 EPS. The company’s revenue was down 5.5% on a year-over-year basis. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.77%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is 36.95%.

Wall Street Analyst Weigh In

LOW has been the subject of a number of research reports. Wedbush reiterated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Truist Financial raised their target price on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Piper Sandler decreased their price target 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. Bank of America dropped their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group reiterated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $253.33.

About Lowe’s Companies

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.