Advisors Asset Management Inc. Lowers Stock Holdings in Lowe’s Companies, Inc. $LOW

Advisors Asset Management Inc. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 37,578 shares of the home improvement retailer’s stock after selling 3,087 shares during the period. Advisors Asset Management Inc.’s holdings in Lowe’s Companies were worth $9,444,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of LOW. Maj Invest Holding A S boosted its position in Lowe’s Companies by 15.7% during the 3rd quarter. Maj Invest Holding A S now owns 802,990 shares of the home improvement retailer’s stock worth $201,801,000 after purchasing an additional 108,813 shares during the period. Bridges Investment Management Inc. lifted its stake in Lowe’s Companies by 13.4% during the third quarter. Bridges Investment Management Inc. now owns 420,832 shares of the home improvement retailer’s stock valued at $105,759,000 after purchasing an additional 49,858 shares during the last quarter. Facet Wealth Inc. purchased a new position in shares of Lowe’s Companies in the third quarter worth approximately $558,000. Prudential Financial Inc. increased its stake in shares of Lowe’s Companies by 0.7% in the second quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock worth $183,344,000 after acquiring an additional 5,820 shares during the last quarter. Finally, Jennison Associates LLC boosted its stake in shares of Lowe’s Companies by 22.0% during the 2nd quarter. Jennison Associates LLC now owns 497,628 shares of the home improvement retailer’s stock worth $110,409,000 after acquiring an additional 89,839 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. DA Davidson reduced their target price on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating for the company in a research report on Thursday, November 20th. Barclays upgraded shares of Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 target price on the stock in a report on Wednesday, January 7th. Truist Financial set a $295.00 price target on shares of Lowe’s Companies in a research note on Friday, January 16th. Mizuho cut their target price on shares of Lowe’s Companies from $285.00 to $272.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Finally, UBS Group reduced their target price on shares of Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $284.77.

Lowe’s Companies Trading Up 0.8%

Shares of LOW opened at $286.97 on Thursday. The company has a market cap of $160.97 billion, a PE ratio of 23.80, a price-to-earnings-growth ratio of 4.45 and a beta of 0.97. The stock has a 50-day moving average price of $259.48 and a 200-day moving average price of $250.94. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $287.34.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $20.81 billion during the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.89 earnings per share. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st were issued a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is 39.80%.

Insider Activity

In other news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the transaction, the chief executive officer owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 0.27% of the stock is owned by insiders.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.