Confluence Investment Management LLC lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 8.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 192,874 shares of the home improvement retailer’s stock after selling 17,190 shares during the quarter. Confluence Investment Management LLC’s holdings in Lowe’s Companies were worth $42,527,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Swiss RE Ltd. purchased a new position in shares of Lowe’s Companies in the fourth quarter worth $25,000. Wilkerson Advisory Group LLC purchased a new stake in Lowe’s Companies during the 4th quarter valued at $27,000. OLD Second National Bank of Aurora boosted its position 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 buying an additional 42 shares during the period. Sankala Group LLC bought a new stake in Lowe’s Companies in the 4th quarter worth $33,000. Finally, Triumph Capital Management bought a new stake in Lowe’s Companies in the 3rd quarter worth $34,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.
Lowe’s Companies Trading Up 2.1%
Shares of NYSE LOW opened at $212.14 on Tuesday. The firm has a fifty day simple moving average of $214.62 and a two-hundred day simple moving average of $238.17. Lowe’s Companies, Inc. has a 12 month low of $199.40 and a 12 month high of $293.06. The firm has a market capitalization of $118.95 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 2.62 and a beta of 0.86.
Lowe’s Companies Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 5th. Shareholders of record on Wednesday, July 22nd will be issued a $1.25 dividend. This represents a $5.00 annualized dividend and a yield of 2.4%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.20. The ex-dividend date is Wednesday, July 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 42.27%.
Analyst Upgrades and Downgrades
A number of research firms have issued reports on LOW. Stifel Nicolaus decreased their price objective on shares of Lowe’s Companies from $270.00 to $220.00 and set a “hold” rating on the stock in a research report on Monday, May 18th. William Blair started coverage on Lowe’s Companies in a research note on Tuesday, May 12th. They issued an “overweight” rating on the stock. Royal Bank Of Canada reduced their price target on Lowe’s Companies from $264.00 to $232.00 and set a “sector perform” rating on the stock in a report on Thursday, May 21st. Craig Hallum raised Lowe’s Companies to a “buy” rating in a research report on Tuesday, May 12th. Finally, Morgan Stanley dropped their price objective on Lowe’s Companies from $292.00 to $277.00 and set an “overweight” rating for the company in a report on Thursday, May 21st. Twenty-three analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $263.67.
Get Our Latest Stock Report on Lowe’s Companies
Insider Buying and Selling at Lowe’s Companies
In other Lowe’s Companies news, EVP Janice Dupre sold 14,150 shares of Lowe’s Companies stock in a transaction that occurred on Tuesday, June 16th. The stock was sold at an average price of $221.90, for a total transaction of $3,139,885.00. Following the sale, the executive vice president directly owned 39,785 shares of the company’s stock, valued at approximately $8,828,291.50. The trade was a 26.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Juliette Williams Pryor sold 9,330 shares of the company’s stock in a transaction that occurred on Wednesday, June 17th. The stock was sold at an average price of $224.81, for a total value of $2,097,477.30. Following the transaction, the executive vice president owned 16,142 shares in the company, valued at $3,628,883.02. This trade represents a 36.63% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 25,980 shares of company stock valued at $5,796,937. 0.29% of the stock is currently owned by corporate insiders.
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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