Burgundy Asset Management Ltd. Sells 244 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Burgundy Asset Management Ltd. decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,207 shares of the home improvement retailer’s stock after selling 244 shares during the period. Burgundy Asset Management Ltd.’s holdings in Lowe’s Companies were worth $7,762,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. 9258 Wealth Management LLC grew its position in Lowe’s Companies by 24.8% in the 4th quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock worth $531,000 after purchasing an additional 474 shares during the period. Gryphon Financial Partners LLC boosted its position in shares of Lowe’s Companies by 10.6% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock valued at $315,000 after acquiring an additional 138 shares during the last quarter. TrinityPoint Wealth LLC boosted its position in shares of Lowe’s Companies by 1.5% during the 4th quarter. TrinityPoint Wealth LLC now owns 6,887 shares of the home improvement retailer’s stock valued at $1,533,000 after acquiring an additional 101 shares during the last quarter. Hillsdale Investment Management Inc. boosted its position in shares of Lowe’s Companies by 36.4% during the 4th quarter. Hillsdale Investment Management Inc. now owns 2,060 shares of the home improvement retailer’s stock valued at $458,000 after acquiring an additional 550 shares during the last quarter. Finally, Sachetta LLC purchased a new stake in Lowe’s Companies during the 4th quarter valued at $47,000. Institutional investors own 74.06% of the company’s stock.

Insider Activity

In other 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 value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Down 0.0 %

NYSE LOW opened at $256.63 on Thursday. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The stock has a market cap of $146.24 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. The business has a fifty day moving average of $242.43 and a 200-day moving average of $235.09.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the firm posted $4.56 earnings per share. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current 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 given a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.79%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on LOW shares. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday. Piper Sandler dropped their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Truist Financial raised their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Wells Fargo & Company dropped their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, Wedbush restated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $252.83.

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.