Thrivent Financial for Lutherans Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Thrivent Financial for Lutherans trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 463,539 shares of the home improvement retailer’s stock after selling 631 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Lowe’s Companies were worth $125,550,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in LOW. Crew Capital Management Ltd. boosted its holdings in Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after purchasing an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC lifted its holdings in shares of Lowe’s Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 37 shares during the period. Clean Yield Group boosted its stake in shares of Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after buying an additional 38 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its holdings in Lowe’s Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after acquiring an additional 40 shares during the period. Finally, Drive Wealth Management LLC raised its position in Lowe’s Companies by 2.2% during the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after acquiring an additional 41 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently commented on LOW. Bank of America raised their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price target for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. TD Cowen upped their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Truist Financial raised their target price on Lowe’s Companies from $306.00 to $307.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, Wells Fargo & Company upped their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.84.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The shares were 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 in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $269.40 on Friday. Lowe’s Companies, Inc. has a one year low of $196.23 and a one year high of $287.01. The stock has a market cap of $152.83 billion, a PE ratio of 22.34, a P/E/G ratio of 2.21 and a beta of 1.10. The stock has a 50 day moving average price of $267.19 and a 200 day moving average price of $243.62.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $4.56 EPS. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.71%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 38.14%.

Lowe’s Companies Company 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.