Navellier & Associates Inc. Reduces Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Navellier & Associates Inc. lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,796 shares of the home improvement retailer’s stock after selling 115 shares during the quarter. Navellier & Associates Inc.’s holdings in Lowe’s Companies were worth $1,841,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Bamco Inc. NY grew its stake in Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after acquiring an additional 20,181 shares in the last quarter. Plato Investment Management Ltd grew its position in shares of Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares in the last quarter. HM Payson & Co. grew its position in shares of Lowe’s Companies by 1.1% during the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after purchasing an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC raised its position in shares of Lowe’s Companies by 12.7% in the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after buying an additional 2,889 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its stake in Lowe’s Companies by 14.4% during the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after buying an additional 20,123 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’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 owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at 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 completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 0.6 %

Shares of LOW opened at $264.50 on Thursday. The firm’s 50-day moving average price is $268.29 and its 200-day moving average price is $244.36. The firm has a market capitalization of $150.05 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $196.23 and a 1-year high of $287.01.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the prior year, the company earned $4.56 earnings per share. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, research analysts forecast that Lowe’s Companies, Inc. will post 11.82 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Wall Street Analysts Forecast Growth

LOW has been the topic of several research analyst reports. Piper Sandler upped their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Mizuho upped their price objective on Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday. TD Cowen boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Stifel Nicolaus increased their price target on shares of Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Royal Bank of Canada boosted their price objective on shares of Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a report on Wednesday. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $277.92.

About Lowe’s Companies

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.