Tyche Wealth Partners LLC Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Tyche Wealth Partners LLC trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% in the 3rd quarter, Holdings Channel reports. The firm owned 6,227 shares of the home improvement retailer’s stock after selling 106 shares during the period. Tyche Wealth Partners LLC’s holdings in Lowe’s Companies were worth $1,686,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in LOW. Vanguard Group Inc. increased its holdings in shares of Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the last quarter. Legal & General Group Plc boosted its stake in 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 buying an additional 82,978 shares during the last quarter. International Assets Investment Management LLC grew its holdings in Lowe’s Companies by 1,889.7% in the 3rd 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 buying an additional 2,027,668 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 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 acquiring an additional 493,180 shares during the period. Finally, Envestnet Asset Management Inc. grew its stake in shares of Lowe’s Companies by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after buying an additional 90,945 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

LOW has been the topic of several recent research reports. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Royal Bank of Canada cut their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Gordon Haskett decreased their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Sanford C. Bernstein started coverage on 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. Finally, Truist Financial lifted their price target on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $271.60.

Lowe’s Companies Stock Performance

Shares of LOW stock traded down $4.35 during trading hours on Tuesday, reaching $263.62. The company had a trading volume of 621,990 shares, compared to its average volume of 2,436,815. The company has a market capitalization of $150.22 billion, a P/E ratio of 21.52, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $183.79 and a twelve month high of $287.01. The stock’s fifty day simple moving average is $261.31 and its 200 day simple moving average is $240.09.

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 (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 company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the firm posted $4.56 earnings per share. The business’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 36.95%.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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 shares were sold at an average price of $271.45, for a total value 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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.