Meeder Asset Management Inc. Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Meeder Asset Management Inc. trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 65.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,003 shares of the home improvement retailer’s stock after selling 5,625 shares during the quarter. Meeder Asset Management Inc.’s holdings in Lowe’s Companies were worth $662,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Paragon Private Wealth Management LLC raised its stake in shares of Lowe’s Companies by 13.5% during the 4th quarter. Paragon Private Wealth Management LLC now owns 4,880 shares of the home improvement retailer’s stock worth $1,086,000 after buying an additional 581 shares during the period. ING Groep NV raised its stake in shares of Lowe’s Companies by 18,786.5% during the 4th quarter. ING Groep NV now owns 106,709 shares of the home improvement retailer’s stock worth $23,748,000 after buying an additional 106,144 shares during the period. Brevan Howard Capital Management LP raised its stake in shares of Lowe’s Companies by 824.6% during the 4th quarter. Brevan Howard Capital Management LP now owns 15,339 shares of the home improvement retailer’s stock worth $3,414,000 after buying an additional 13,680 shares during the period. Bamco Inc. NY raised its stake in shares of Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares during the period. Finally, Plato Investment Management Ltd raised its stake 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 worth $1,606,000 after buying an additional 5,470 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LOW. Telsey Advisory Group reaffirmed a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Morgan Stanley increased their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Piper Sandler reduced their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Truist Financial increased their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Gordon Haskett reduced their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Trading Up 1.3 %

NYSE LOW opened at $255.41 on Friday. The stock has a market cap of $144.89 billion, a PE ratio of 20.51, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The stock has a fifty day simple moving average of $240.11 and a 200-day simple moving average of $234.78.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations 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 business posted $4.56 EPS. Research analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders 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 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 dividend yield of 1.80%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

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.