Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by ANTIPODES PARTNERS Ltd

ANTIPODES PARTNERS Ltd decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 23.0% during the 2nd quarter, HoldingsChannel reports. The fund owned 255,704 shares of the home improvement retailer’s stock after selling 76,402 shares during the quarter. Lowe’s Companies comprises approximately 2.0% of ANTIPODES PARTNERS Ltd’s investment portfolio, making the stock its 26th largest holding. ANTIPODES PARTNERS Ltd’s holdings in Lowe’s Companies were worth $56,373,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of LOW. Columbia Asset Management raised its stake in Lowe’s Companies by 8.8% during the second quarter. Columbia Asset Management now owns 1,673 shares of the home improvement retailer’s stock valued at $369,000 after buying an additional 135 shares in the last quarter. First Business Financial Services Inc. raised its stake in Lowe’s Companies by 3.8% during the second quarter. First Business Financial Services Inc. now owns 8,585 shares of the home improvement retailer’s stock valued at $1,893,000 after buying an additional 318 shares in the last quarter. Beaumont Asset Management L.L.C. raised its stake in Lowe’s Companies by 2.3% during the second quarter. Beaumont Asset Management L.L.C. now owns 2,644 shares of the home improvement retailer’s stock valued at $583,000 after buying an additional 59 shares in the last quarter. SouthState Corp raised its position in shares of Lowe’s Companies by 35.1% during the 2nd quarter. SouthState Corp now owns 34,405 shares of the home improvement retailer’s stock worth $7,585,000 after purchasing an additional 8,940 shares during the period. Finally, Nottingham Advisors Inc. acquired a new stake in shares of Lowe’s Companies during the 2nd quarter worth approximately $673,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.5 %

LOW opened at $244.13 on Friday. The stock has a fifty day moving average of $236.06 and a 200-day moving average of $233.98. The firm has a market capitalization of $139.11 billion, a P/E ratio of 19.61, a PEG ratio of 2.04 and a beta of 1.07. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $262.49.

Lowe’s Companies (NYSE:LOW) last released its 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 company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.56 earnings per share. On average, analysts expect that Lowe’s Companies, Inc. will post 11.94 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued 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 1.88%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on LOW. DA Davidson dropped their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 22nd. UBS Group increased their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Royal Bank of Canada dropped their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Piper Sandler dropped their price target 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. Finally, Stifel Nicolaus increased their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock a “hold” rating in a report on Monday, May 13th. Twelve research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target 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.