Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Moors & Cabot Inc.

Moors & Cabot Inc. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,705 shares of the home improvement retailer’s stock after selling 145 shares during the quarter. Moors & Cabot Inc.’s holdings in Lowe’s Companies were worth $6,108,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the company. Brevan Howard Capital Management LP increased its holdings in Lowe’s Companies by 824.6% in the fourth quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock valued at $3,414,000 after buying an additional 13,680 shares in the last quarter. Bamco Inc. NY raised its holdings in Lowe’s Companies by 10.3% in the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after purchasing an additional 20,181 shares during the period. Plato Investment Management Ltd boosted its position in Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after purchasing an additional 5,470 shares in the last quarter. 17 Capital Partners LLC purchased a new position in Lowe’s Companies during the first quarter worth approximately $1,368,000. Finally, Gerber LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $235,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. UBS Group lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Bank of America dropped their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price target on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Piper Sandler lowered their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Finally, Morgan Stanley increased their target price on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Stock Performance

LOW stock opened at $256.64 on Tuesday. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $262.49. The firm has a market cap of $146.24 billion, a PE ratio of 20.61, a PEG ratio of 2.03 and a beta of 1.10. The firm’s 50 day moving average price is $240.90 and its 200-day moving average price is $234.86.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion for 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 quarter in the previous year, the business earned $4.56 earnings per share. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.79%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

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.