Highland Capital Management LLC Has $22.50 Million Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Highland Capital Management LLC trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% during the third quarter, HoldingsChannel reports. The firm owned 83,068 shares of the home improvement retailer’s stock after selling 1,508 shares during the quarter. Lowe’s Companies comprises 1.3% of Highland Capital Management LLC’s portfolio, making the stock its 14th largest holding. Highland Capital Management LLC’s holdings in Lowe’s Companies were worth $22,499,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after buying an additional 2,674,372 shares during the period. Legal & General Group Plc increased its position in shares of Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. International Assets Investment Management LLC raised its holdings in shares of 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 worth $578,256,000 after acquiring an additional 2,027,668 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares in the last quarter. Finally, Envestnet Asset Management Inc. boosted its stake in Lowe’s Companies by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after purchasing an additional 90,945 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 1.4 %

Lowe’s Companies stock opened at $267.64 on Friday. The company has a market capitalization of $151.83 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $287.01. The stock’s 50 day moving average is $260.81 and its 200-day moving average is $239.87.

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, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the business earned $4.56 EPS. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share 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 issued a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.72%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 38.14%.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred 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 approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly 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 disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the company. Morgan Stanley boosted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Evercore ISI lifted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, Piper Sandler lifted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $270.60.

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.