Intech Investment Management LLC Has $3.93 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Intech Investment Management LLC lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 17,829 shares of the home improvement retailer’s stock after purchasing an additional 298 shares during the period. Intech Investment Management LLC’s holdings in Lowe’s Companies were worth $3,931,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of LOW. Drive Wealth Management LLC increased its stake in shares of Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after buying an additional 41 shares during the period. Crown Wealth Group LLC raised its holdings in Lowe’s Companies by 4.4% during the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock worth $232,000 after purchasing an additional 44 shares during the last quarter. Pure Financial Advisors LLC lifted its position in shares of Lowe’s Companies by 2.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock worth $400,000 after purchasing an additional 45 shares during the period. BLB&B Advisors LLC boosted its stake in shares of Lowe’s Companies by 2.2% in the 2nd quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock valued at $454,000 after purchasing an additional 45 shares during the last quarter. Finally, First Bank & Trust increased its position in shares of Lowe’s Companies by 3.1% during the first quarter. First Bank & Trust now owns 1,509 shares of the home improvement retailer’s stock worth $384,000 after buying an additional 46 shares during the period. Institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on LOW shares. Bank of America dropped their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. JPMorgan Chase & Co. dropped 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. Piper Sandler decreased their target price on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Gordon Haskett dropped their price target on 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. Finally, Morgan Stanley raised their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Thirteen analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $253.33.

Lowe’s Companies Stock Down 0.3 %

Shares of NYSE:LOW opened at $260.14 on Friday. The stock has a market cap of $148.24 billion, a price-to-earnings ratio of 20.89, a PEG ratio of 2.03 and a beta of 1.10. The business’s 50 day moving average is $243.58 and its 200 day moving average is $235.36. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted 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. 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 during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the business posted $4.56 EPS. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 36.95%.

Insider Activity

In related 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 transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by corporate insiders.

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.