Sollinda Capital Management LLC Reduces Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Sollinda Capital Management LLC trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,653 shares of the home improvement retailer’s stock after selling 320 shares during the quarter. Lowe’s Companies makes up 0.5% of Sollinda Capital Management LLC’s holdings, making the stock its 21st biggest position. Sollinda Capital Management LLC’s holdings in Lowe’s Companies were worth $1,802,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in LOW. Crew Capital Management Ltd. lifted its position in shares of Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after buying an additional 37 shares during the last quarter. Summit Place Financial Advisors LLC lifted its position in shares of Lowe’s Companies by 2.8% during the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 37 shares during the last quarter. Clean Yield Group lifted its position in shares of Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after buying an additional 38 shares during the last quarter. Drive Wealth Management LLC lifted its position in shares of Lowe’s Companies by 2.2% during the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after buying an additional 41 shares during the last quarter. Finally, Chapin Davis Inc. lifted its position in shares of Lowe’s Companies by 1.3% during the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after buying an additional 41 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of LOW stock traded up $0.11 during trading hours on Friday, hitting $261.94. The stock had a trading volume of 2,262,390 shares, compared to its average volume of 2,446,005. The firm has a market capitalization of $148.60 billion, a PE ratio of 21.72, a PEG ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $189.05 and a twelve month high of $287.01. The stock’s 50 day moving average is $262.81 and its 200 day moving average is $240.82.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during 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 was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.56 earnings per share. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

Wall Street Analysts Forecast Growth

Several analysts have commented on LOW shares. Sanford C. Bernstein started coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price target for the company. Morgan Stanley upped their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Truist Financial increased their price target on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Finally, Wells Fargo & Company cut their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.60.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction 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 completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were 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 approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

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.