Schear Investment Advisers LLC Cuts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Schear Investment Advisers LLC decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 13.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,085 shares of the home improvement retailer’s stock after selling 175 shares during the period. Schear Investment Advisers LLC’s holdings in Lowe’s Companies were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in LOW. International Assets Investment Management LLC grew its position in shares of Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after purchasing an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC lifted its stake in Lowe’s Companies by 20,275.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares in the last quarter. Applied Finance Capital Management LLC boosted its holdings in Lowe’s Companies by 387.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after buying an additional 645,017 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after buying an additional 493,180 shares in the last quarter. Finally, Marshall Wace LLP raised its holdings in shares of Lowe’s Companies by 170.5% during the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock valued at $162,178,000 after acquiring an additional 463,645 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was 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 owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 30.25 % 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 Ratings Changes

A number of analysts have recently issued reports on the company. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Melius Research began coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 target price on the stock. Wells Fargo & Company upped their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Piper Sandler raised their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Royal Bank of Canada dropped their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $273.84.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $269.40 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $196.23 and a fifty-two week high of $287.01. The company has a 50 day moving average price of $267.19 and a 200 day moving average price of $243.62. The stock has a market capitalization of $152.83 billion, a P/E ratio of 22.34, a PEG ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates 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 quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the business posted $4.56 earnings per share. Research analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share 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. Shareholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This is a positive change 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 1.71%. Lowe’s Companies’s dividend payout ratio is 38.14%.

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.