Lmcg Investments LLC Sells 24,620 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Lmcg Investments LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 58.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,698 shares of the home improvement retailer’s stock after selling 24,620 shares during the quarter. Lmcg Investments LLC’s holdings in Lowe’s Companies were worth $3,902,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of LOW. Montag & Caldwell LLC lifted its holdings in Lowe’s Companies by 22.5% in the second quarter. Montag & Caldwell LLC now owns 49,884 shares of the home improvement retailer’s stock valued at $10,997,000 after buying an additional 9,171 shares during the period. Citizens Financial Group Inc. RI raised its holdings in Lowe’s Companies by 53.2% in the second quarter. Citizens Financial Group Inc. RI now owns 19,538 shares of the home improvement retailer’s stock worth $4,307,000 after purchasing an additional 6,784 shares during the period. One Capital Management LLC raised its holdings in Lowe’s Companies by 123.8% in the second quarter. One Capital Management LLC now owns 9,888 shares of the home improvement retailer’s stock worth $2,180,000 after purchasing an additional 5,469 shares during the period. Dimensional Fund Advisors LP raised its holdings in Lowe’s Companies by 8.4% in the second quarter. Dimensional Fund Advisors LP now owns 1,492,941 shares of the home improvement retailer’s stock worth $329,134,000 after purchasing an additional 116,003 shares during the period. Finally, Waycross Partners LLC acquired a new stake in Lowe’s Companies in the second quarter worth $12,950,000. 74.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

LOW has been the topic of several analyst reports. Piper Sandler cut their target price on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Bank of America lowered their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. UBS Group increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, Evercore ISI increased their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $252.83.

Lowe’s Companies Stock Performance

NYSE LOW opened at $256.64 on Tuesday. The firm has a 50-day moving average of $240.90 and a 200-day moving average of $234.86. The stock has a market cap of $146.24 billion, a PE ratio of 20.61, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results 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 net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the company posted $4.56 EPS. Lowe’s Companies’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.79%. Lowe’s Companies’s payout ratio is 36.95%.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The shares were 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 owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies 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.