Meeder Asset Management Inc. Raises Position in Lowe’s Companies, Inc. (NYSE:LOW)

Meeder Asset Management Inc. raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 693.5% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 23,829 shares of the home improvement retailer’s stock after buying an additional 20,826 shares during the period. Meeder Asset Management Inc.’s holdings in Lowe’s Companies were worth $6,454,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Crew Capital Management Ltd. boosted its position in Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after buying an additional 37 shares during the period. Summit Place Financial Advisors LLC boosted its position in Lowe’s Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 37 shares during the period. Clean Yield Group lifted its position in shares of Lowe’s Companies by 2.4% during the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 38 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its position in shares of Lowe’s Companies by 0.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after purchasing an additional 40 shares during the last quarter. Finally, Drive Wealth Management LLC lifted its position in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling

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

Wall Street Analysts Forecast Growth

LOW has been the subject of several recent analyst reports. Sanford C. Bernstein initiated coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price objective for the company. Telsey Advisory Group upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $275.00 to $305.00 in a research note on Friday, November 8th. Piper Sandler lifted 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. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Finally, TD Cowen lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Price Performance

NYSE:LOW opened at $271.87 on Tuesday. The firm has a 50 day simple moving average of $267.74 and a 200-day simple moving average of $244.04. The firm has a market cap of $154.23 billion, a PE ratio of 22.54, a P/E/G ratio of 2.21 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $196.23 and a 1-year high of $287.01.

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, beating analysts’ consensus estimates 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 net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.56 earnings per share. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Investors of record on Wednesday, January 22nd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.69%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is 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.