Vanguard Group Inc. Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

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Vanguard Group Inc. cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.1% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,308,507 shares of the home improvement retailer’s stock after selling 3,472,357 shares during the quarter. Vanguard Group Inc. owned about 8.52% of Lowe’s Companies worth $8,689,365,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. PrairieView Partners LLC acquired a new stake in Lowe’s Companies during the 2nd quarter worth about $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Lowe’s Companies in the second quarter worth about $26,000. Financial Management Professionals Inc. acquired a new stake in shares of Lowe’s Companies during the second quarter worth about $32,000. Price Wealth LLC purchased a new stake in Lowe’s Companies in the second quarter valued at approximately $35,000. Finally, Benjamin Edwards Inc. increased its holdings in Lowe’s Companies by 43.0% in the 1st quarter. Benjamin Edwards Inc. now owns 296 shares of the home improvement retailer’s stock worth $25,000 after buying an additional 89 shares during the period. 74.63% of the stock is currently owned by hedge funds and other institutional investors.

NYSE LOW traded down $5.13 during trading hours on Friday, reaching $156.39. The company had a trading volume of 6,297,112 shares, compared to its average volume of 4,387,489. Lowe’s Companies, Inc. has a 1-year low of $60.00 and a 1-year high of $171.32. The stock has a 50-day moving average of $154.07 and a 200 day moving average of $122.35. The company has a current ratio of 1.30, a quick ratio of 0.65 and a debt-to-equity ratio of 4.64. The stock has a market capitalization of $118.19 billion, a P/E ratio of 20.80, a price-to-earnings-growth ratio of 1.15 and a beta of 1.50.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, August 19th. The home improvement retailer reported $3.75 EPS for the quarter, topping the consensus estimate of $2.95 by $0.80. Lowe’s Companies had a return on equity of 228.17% and a net margin of 7.12%. The firm had revenue of $27.30 billion for the quarter, compared to analyst estimates of $24.24 billion. During the same period in the previous year, the company posted $2.15 EPS. Lowe’s Companies’s revenue for the quarter was up 30.1% on a year-over-year basis. As a group, sell-side analysts predict that Lowe’s Companies, Inc. will post 8.39 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 4th. Investors of record on Wednesday, October 21st will be issued a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 1.53%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Tuesday, October 20th. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.46%.

In other Lowe’s Companies news, EVP Ross W. Mccanless sold 62,838 shares of the business’s stock in a transaction on Wednesday, August 26th. The shares were sold at an average price of $168.33, for a total value of $10,577,520.54. Following the transaction, the executive vice president now owns 72,967 shares in the company, valued at approximately $12,282,535.11. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.07% of the company’s stock.

Several analysts have recently commented on LOW shares. Oppenheimer reaffirmed a “buy” rating on shares of Lowe’s Companies in a report on Tuesday, June 16th. Truist Securiti boosted their target price on shares of Lowe’s Companies from $135.00 to $178.00 in a research note on Wednesday, August 12th. Wells Fargo & Co raised their price target on shares of Lowe’s Companies from $165.00 to $180.00 and gave the company an “overweight” rating in a research report on Tuesday, August 11th. Loop Capital upped their price target on shares of Lowe’s Companies from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Thursday, August 20th. Finally, KeyCorp lifted their price objective on Lowe’s Companies from $165.00 to $180.00 and gave the stock an “overweight” rating in a report on Thursday, August 20th. Three analysts have rated the stock with a hold rating, thirty-one have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $164.88.

Lowe’s Companies Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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