Regent Investment Management LLC lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW – Get Rating) by 0.6% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 19,964 shares of the home improvement retailer’s stock after selling 130 shares during the quarter. Lowe’s Companies comprises about 1.0% of Regent Investment Management LLC’s investment portfolio, making the stock its 25th largest position. Regent Investment Management LLC’s holdings in Lowe’s Companies were worth $3,487,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. State Street Corp boosted its stake in Lowe’s Companies by 1.0% in the fourth quarter. State Street Corp now owns 30,861,324 shares of the home improvement retailer’s stock worth $7,977,035,000 after purchasing an additional 296,707 shares in the last quarter. Norges Bank bought a new stake in shares of Lowe’s Companies during the fourth quarter worth $1,751,232,000. Wellington Management Group LLP raised its position in shares of Lowe’s Companies by 3.2% during the first quarter. Wellington Management Group LLP now owns 6,675,859 shares of the home improvement retailer’s stock worth $1,349,793,000 after acquiring an additional 205,858 shares during the last quarter. Invesco Ltd. raised its position in shares of Lowe’s Companies by 13.0% during the first quarter. Invesco Ltd. now owns 5,809,836 shares of the home improvement retailer’s stock worth $1,174,691,000 after acquiring an additional 666,437 shares during the last quarter. Finally, Egerton Capital UK LLP raised its position in shares of Lowe’s Companies by 56.2% during the first quarter. Egerton Capital UK LLP now owns 3,610,961 shares of the home improvement retailer’s stock worth $730,100,000 after acquiring an additional 1,299,622 shares during the last quarter. Institutional investors and hedge funds own 74.04% of the company’s stock.
Insider Activity at Lowe’s Companies
In related news, EVP Seemantini Godbole sold 11,761 shares of the stock in a transaction that occurred on Friday, August 19th. The stock was sold at an average price of $214.37, for a total transaction of $2,521,205.57. Following the completion of the transaction, the executive vice president now directly owns 26,575 shares of the company’s stock, valued at $5,696,882.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.24% of the company’s stock.
Lowe’s Companies Trading Down 0.5 %
Lowe’s Companies (NYSE:LOW – Get Rating) last posted its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $4.67 earnings per share for the quarter, topping the consensus estimate of $4.63 by $0.04. The company had revenue of $27.48 billion during the quarter, compared to analysts’ expectations of $28.16 billion. Lowe’s Companies had a negative return on equity of 155.26% and a net margin of 8.83%. Lowe’s Companies’s revenue for the quarter was down .3% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.25 earnings per share. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 13.51 EPS for the current fiscal year.
Lowe’s Companies Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be given a dividend of $1.05 per share. The ex-dividend date is Tuesday, October 18th. This represents a $4.20 annualized dividend and a yield of 2.24%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 33.10%.
Analyst Ratings Changes
LOW has been the subject of a number of recent research reports. Jefferies Financial Group boosted their target price on Lowe’s Companies from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Piper Sandler boosted their target price on Lowe’s Companies to $248.00 in a research report on Monday, August 22nd. Robert W. Baird upped their price objective on Lowe’s Companies from $225.00 to $235.00 and gave the company an “outperform” rating in a report on Wednesday, August 17th. Evercore ISI upped their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the company an “outperform” rating in a report on Thursday, August 18th. Finally, Wedbush upped their price objective on Lowe’s Companies from $200.00 to $225.00 and gave the company a “neutral” rating in a report on Thursday, August 18th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $244.05.
Lowe’s Companies Profile
Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.
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