Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% in the third quarter, HoldingsChannel reports. The firm owned 70,208 shares of the home improvement retailer’s stock after selling 2,002 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Lowe’s Companies were worth $19,016,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently bought and sold shares of the company. Edgestream Partners L.P. boosted its holdings in shares of Lowe’s Companies by 2.8% in the 1st quarter. Edgestream Partners L.P. now owns 6,236 shares of the home improvement retailer’s stock valued at $1,588,000 after acquiring an additional 172 shares during the last quarter. Cynosure Group LLC acquired a new position in Lowe’s Companies during the first quarter valued at $405,000. Davis R M Inc. boosted its holdings in Lowe’s Companies by 20.1% in the first quarter. Davis R M Inc. now owns 12,580 shares of the home improvement retailer’s stock valued at $3,205,000 after purchasing an additional 2,105 shares during the last quarter. Trustmark National Bank Trust Department boosted its holdings in Lowe’s Companies by 26.6% in the first quarter. Trustmark National Bank Trust Department now owns 1,649 shares of the home improvement retailer’s stock valued at $420,000 after purchasing an additional 346 shares during the last quarter. Finally, Bahl & Gaynor Inc. grew its position in Lowe’s Companies by 2.0% during the 1st quarter. Bahl & Gaynor Inc. now owns 51,435 shares of the home improvement retailer’s stock worth $13,102,000 after purchasing an additional 999 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the subject of several analyst reports. Piper Sandler boosted their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada lowered their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Bank of America lifted their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Stifel Nicolaus raised their price target on shares of Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research report on Monday, November 11th. Finally, Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $273.84.

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated 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 completion of 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 trade represents a 41.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Trading Down 0.4 %

Shares of NYSE LOW opened at $269.40 on Friday. The company has a 50-day moving average of $267.19 and a 200 day moving average of $243.62. Lowe’s Companies, Inc. has a 12-month low of $196.23 and a 12-month high of $287.01. The stock has a market cap of $152.83 billion, a PE ratio of 22.34, a P/E/G ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm 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 business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.56 earnings per share. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 38.14%.

Lowe’s Companies Company 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.