Harvest Fund Management Co. Ltd Cuts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Harvest Fund Management Co. Ltd reduced its position in Lowe’s Companies, Inc. (NYSE:LOW) by 67.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 655 shares of the home improvement retailer’s stock after selling 1,338 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Lowe’s Companies were worth $177,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its position in Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after buying an additional 2,027,668 shares in the last quarter. Strategic Financial Concepts LLC lifted its holdings in shares of Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after acquiring an additional 1,199,100 shares in the last quarter. Applied Finance Capital Management LLC lifted its holdings in shares of Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after acquiring an additional 645,017 shares in the last quarter. Marshall Wace LLP boosted its position in Lowe’s Companies by 170.5% during the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after purchasing an additional 463,645 shares during the period. Finally, Hardin Capital Partners LLC acquired a new stake in Lowe’s Companies in the 2nd quarter valued at $74,763,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on LOW. DA Davidson boosted their price objective on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Wells Fargo & Company boosted their price target on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 6th. Piper Sandler increased their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Barclays lifted their price objective on shares of Lowe’s Companies from $229.00 to $245.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 20th. Finally, Wedbush restated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $277.92.

Lowe’s Companies Stock Down 0.5 %

LOW stock opened at $273.14 on Thursday. The stock has a market cap of $154.95 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 2.31 and a beta of 1.10. The firm’s 50-day simple moving average is $269.80 and its 200 day simple moving average is $245.66. Lowe’s Companies, Inc. has a fifty-two week low of $196.32 and a fifty-two week high of $287.01.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.68%. 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 presently 38.37%.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade 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 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.