Ghe LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 46.6% in the 1st quarter, Holdings Channel reports. The fund owned 11,061 shares of the home improvement retailer’s stock after selling 9,638 shares during the quarter. Lowe’s Companies comprises about 0.6% of Ghe LLC’s holdings, making the stock its 19th largest position. Ghe LLC’s holdings in Lowe’s Companies were worth $2,613,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. Swiss RE Ltd. bought a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $25,000. Wilkerson Advisory Group LLC bought a new stake in Lowe’s Companies in the fourth quarter worth $27,000. OLD Second National Bank of Aurora boosted its holdings in Lowe’s Companies by 52.5% during the 4th quarter. OLD Second National Bank of Aurora now owns 122 shares of the home improvement retailer’s stock valued at $29,000 after acquiring an additional 42 shares during the period. Sankala Group LLC purchased a new stake in shares of Lowe’s Companies during the fourth quarter valued at approximately $33,000. Finally, Triumph Capital Management bought a new stake in Lowe’s Companies in the 3rd quarter worth $34,000. Institutional investors own 74.06% of the company’s stock.
Lowe’s Companies Stock Up 0.0%
LOW stock opened at $211.69 on Monday. Lowe’s Companies, Inc. has a twelve month low of $203.40 and a twelve month high of $293.06. The firm has a market cap of $118.70 billion, a PE ratio of 17.89, a price-to-earnings-growth ratio of 2.67 and a beta of 0.86. The business has a 50 day moving average of $219.20 and a 200 day moving average of $242.73.
Lowe’s Companies Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 5th. Stockholders of record on Wednesday, July 22nd will be paid a $1.25 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.20. This represents a $5.00 annualized dividend and a dividend yield of 2.4%. The ex-dividend date is Wednesday, July 22nd. Lowe’s Companies’s payout ratio is currently 40.57%.
Insider Transactions at Lowe’s Companies
In related news, EVP Janice Dupre sold 14,150 shares of the business’s stock in a transaction that occurred on Tuesday, June 16th. The shares were sold at an average price of $221.90, for a total value of $3,139,885.00. Following the completion of the transaction, the executive vice president directly owned 39,785 shares in the company, valued at $8,828,291.50. The trade was a 26.24% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 2,500 shares of the stock in a transaction on Thursday, June 18th. The shares were sold at an average price of $223.83, for a total value of $559,575.00. Following the sale, the executive vice president owned 20,220 shares in the company, valued at approximately $4,525,842.60. This represents a 11.00% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 25,980 shares of company stock worth $5,796,937. Corporate insiders own 0.29% of the company’s stock.
Analyst Ratings Changes
A number of analysts have recently weighed in on the stock. Mizuho dropped their target price on shares of Lowe’s Companies from $294.00 to $280.00 and set an “outperform” rating for the company in a report on Thursday, May 21st. Weiss Ratings downgraded Lowe’s Companies from a “hold (c+)” rating to a “hold (c)” rating in a report on Thursday, June 4th. Bank of America dropped their target price on shares of Lowe’s Companies from $260.00 to $257.00 and set a “neutral” rating for the company in a research report on Thursday, May 21st. Piper Sandler reduced their price target on shares of Lowe’s Companies from $300.00 to $276.00 and set an “overweight” rating on the stock in a research report on Thursday, May 21st. Finally, JPMorgan Chase & Co. decreased their price target on shares of Lowe’s Companies from $325.00 to $279.00 and set an “overweight” rating for the company in a research note on Thursday, May 21st. Twenty-three analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $264.57.
Get Our Latest Report on Lowe’s Companies
About Lowe’s Companies
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.
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