Sollinda Capital Management LLC Has $1.80 Million Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Sollinda Capital Management LLC cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,653 shares of the home improvement retailer’s stock after selling 320 shares during the period. Lowe’s Companies accounts for 0.5% of Sollinda Capital Management LLC’s holdings, making the stock its 21st largest position. Sollinda Capital Management LLC’s holdings in Lowe’s Companies were worth $1,802,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of LOW. Vanguard Group Inc. increased its holdings in shares of Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares during the period. Legal & General Group Plc increased its holdings 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 purchasing an additional 82,978 shares during the period. International Assets Investment Management LLC increased 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 purchasing an additional 2,027,668 shares during the period. Price T Rowe Associates Inc. MD increased its holdings in shares of Lowe’s Companies by 36.6% during the first 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 purchasing an additional 493,180 shares during the period. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Lowe’s Companies by 6.0% during the second 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. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Up 0.0 %

LOW traded up $0.11 during midday trading on Friday, hitting $261.94. The company had a trading volume of 2,262,390 shares, compared to its average volume of 2,446,005. Lowe’s Companies, Inc. has a 52 week low of $189.05 and a 52 week high of $287.01. The company has a market capitalization of $148.60 billion, a price-to-earnings ratio of 21.72, a PEG ratio of 2.15 and a beta of 1.10. The stock’s 50 day moving average price is $262.81 and its 200 day moving average price is $240.82.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate 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 firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the previous year, the firm posted $4.56 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. Research analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. Lowe’s Companies’s payout ratio is presently 38.14%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LOW shares. 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 note on Monday, October 14th. Wells Fargo & Company decreased their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. 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 note on Wednesday, October 2nd. Gordon Haskett decreased 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 note on Wednesday, August 21st. Finally, 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 note on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.60.

Insider Transactions at Lowe’s Companies

In other news, 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 directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 0.00 % 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 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.