Holderness Investments Co. Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Holderness Investments Co. trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,876 shares of the home improvement retailer’s stock after selling 62 shares during the period. Holderness Investments Co.’s holdings in Lowe’s Companies were worth $2,618,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Tidemark LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at about $27,000. Voisard Asset Management Group Inc. purchased a new stake in Lowe’s Companies during the 4th quarter worth approximately $28,000. Transcendent Capital Group LLC acquired a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $31,000. Stephens Consulting LLC lifted its position in shares of 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 acquiring an additional 70 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in shares of Lowe’s Companies in the first quarter worth approximately $35,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated 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 owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $260.14 on Friday. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $262.49. The firm has a market cap of $148.24 billion, a PE ratio of 20.89, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. The company has a 50-day moving average of $243.58 and a two-hundred day moving average of $235.36.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating 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 negative return on equity of 47.07% and a net margin of 8.25%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $4.56 EPS. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS 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 dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.77%. Lowe’s Companies’s dividend payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

LOW has been the subject of several recent research reports. Royal Bank of Canada reduced their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Piper Sandler reduced their target price on shares of 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. Gordon Haskett decreased their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, UBS Group raised their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock 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 company. According to data from MarketBeat.com, the company presently 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.