Mediolanum International Funds Ltd Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Mediolanum International Funds Ltd lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 7.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 101,955 shares of the home improvement retailer’s stock after selling 8,110 shares during the period. Mediolanum International Funds Ltd’s holdings in Lowe’s Companies were worth $27,191,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Stephens Consulting LLC boosted its stake in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the last quarter. Keener Financial Planning LLC bought a new position in Lowe’s Companies during the 1st quarter valued at $35,000. MFA Wealth Advisors LLC boosted its stake in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares during the last quarter. Kimelman & Baird LLC bought a new position in Lowe’s Companies during the 2nd quarter valued at $37,000. Finally, Tsfg LLC boosted its stake in Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 100 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on 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 sale, 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 sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The shares were 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 directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 0.00 % 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.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent research reports. Truist Financial lifted their price objective on shares of Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Telsey Advisory Group lifted their price objective on shares of Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, October 2nd. 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 research report on Wednesday, August 21st. Gordon Haskett cut their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Finally, Sanford C. Bernstein started coverage on shares of Lowe’s Companies in a research report on Tuesday. They issued an “outperform” rating and a $323.00 price objective on the stock. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.60.

Lowe’s Companies Price Performance

NYSE:LOW traded down $1.30 during midday trading on Friday, reaching $270.06. The stock had a trading volume of 208,273 shares, compared to its average volume of 2,439,382. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $287.01. The firm’s fifty day simple moving average is $259.66 and its 200-day simple moving average is $239.47. The stock has a market capitalization of $153.89 billion, a P/E ratio of 21.80, a PEG ratio of 2.28 and a beta of 1.10.

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, beating 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 business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period last year, the business posted $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts anticipate 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 declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. Lowe’s Companies’s 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.