Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 53.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 43,277 shares of the home improvement retailer’s stock after selling 50,699 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Lowe’s Companies were worth $9,768,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of LOW. Axiom Financial Strategies LLC boosted its holdings in shares of Lowe’s Companies by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock valued at $275,000 after acquiring an additional 123 shares during the period. United Bank raised its stake in shares of Lowe’s Companies by 6.8% during the first quarter. United Bank now owns 9,734 shares of the home improvement retailer’s stock valued at $1,968,000 after purchasing an additional 617 shares in the last quarter. Prudential PLC bought a new stake in shares of Lowe’s Companies during the first quarter valued at about $1,629,000. Baird Financial Group Inc. raised its stake in shares of Lowe’s Companies by 0.4% during the first quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer’s stock valued at $51,780,000 after purchasing an additional 920 shares in the last quarter. Finally, Covestor Ltd raised its stake in shares of Lowe’s Companies by 74.6% during the first quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock valued at $60,000 after purchasing an additional 126 shares in the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. Truist Financial cut their price objective on shares of Lowe’s Companies from $256.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. Robert W. Baird boosted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “outperform” rating in a report on Tuesday, August 22nd. Evercore ISI lowered their target price on Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating on the stock in a research note on Friday, September 8th. Bank of America lifted their target price on Lowe’s Companies from $278.00 to $289.00 and gave the company a “buy” rating in a research note on Wednesday, August 23rd. Finally, Stifel Nicolaus started coverage on Lowe’s Companies in a research note on Wednesday, September 6th. They set a “buy” rating and a $270.00 target price on the stock. Twelve research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $243.96.

Insider Buying and Selling

In related news, EVP Janice Dupre sold 5,380 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the sale, the executive vice president now owns 24,216 shares in the company, valued at $5,600,676.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lowe’s Companies news, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.28, for a total value of $1,244,286.40. Following the transaction, the executive vice president now owns 24,216 shares in the company, valued at $5,600,676.48. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of Lowe’s Companies stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the sale, the executive vice president now directly owns 46,594 shares in the company, valued at $10,368,562.82. The disclosure for this sale can be found here. 0.24% of the stock is currently owned by corporate insiders.

Lowe’s Companies Trading Up 1.5 %

Shares of Lowe’s Companies stock opened at $190.52 on Wednesday. The company has a market capitalization of $109.95 billion, a PE ratio of 18.75, a PEG ratio of 1.20 and a beta of 1.11. Lowe’s Companies, Inc. has a 12 month low of $178.30 and a 12 month high of $237.21. The stock’s fifty day simple moving average is $210.25 and its 200 day simple moving average is $214.24.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, beating analysts’ consensus estimates of $4.49 by $0.07. The company had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.97 billion. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the previous year, the company posted $4.67 earnings per share. Analysts predict that Lowe’s Companies, Inc. will post 13.41 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be issued a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $4.40 annualized dividend and a yield of 2.31%. Lowe’s Companies’s payout ratio is presently 43.31%.

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.