Truist Financial Corp Sells 17,577 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Truist Financial Corp lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 601,073 shares of the home improvement retailer’s stock after selling 17,577 shares during the period. Truist Financial Corp owned approximately 0.11% of Lowe’s Companies worth $132,513,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after acquiring an additional 2,674,372 shares during the last quarter. Legal & General Group Plc lifted its stake in Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after purchasing an additional 82,978 shares during the last quarter. Schroder Investment Management Group boosted its position in shares of Lowe’s Companies by 1.9% during the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after buying an additional 52,859 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after buying an additional 493,180 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after buying an additional 90,945 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms recently issued reports on LOW. UBS Group boosted their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. TD Cowen upped their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a report on Thursday, September 19th. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Morgan Stanley raised their target price 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. Finally, Piper Sandler boosted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday. Eleven equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus target price of $260.00.

Lowe’s Companies Trading Up 1.4 %

Shares of LOW stock opened at $270.85 on Tuesday. The company has a market capitalization of $154.34 billion, a P/E ratio of 21.76, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $271.27. The business’s 50 day moving average is $246.83 and its two-hundred day moving average is $236.29.

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

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Insider Activity at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

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.