Lowe’s Companies, Inc. (NYSE:LOW) Stake Lessened by Townsquare Capital LLC

Townsquare Capital LLC trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 65,837 shares of the home improvement retailer’s stock after selling 80 shares during the quarter. Townsquare Capital LLC’s holdings in Lowe’s Companies were worth $17,832,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Plato Investment Management Ltd grew its stake in Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after purchasing an additional 5,470 shares in the last quarter. StoneX Group Inc. bought a new position in Lowe’s Companies during the 3rd quarter worth approximately $2,713,000. HM Payson & Co. grew its position in shares of Lowe’s Companies by 1.1% in the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after acquiring an additional 2,322 shares in the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares during the last quarter. Finally, AMF Tjanstepension AB raised its position in shares of Lowe’s Companies by 14.4% during the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after acquiring an additional 20,123 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE LOW opened at $274.48 on Wednesday. Lowe’s Companies, Inc. has a 1 year low of $196.32 and a 1 year high of $287.01. The business’s fifty day moving average is $269.47 and its two-hundred day moving average is $245.47. The stock has a market capitalization of $155.71 billion, a P/E ratio of 22.89, a P/E/G ratio of 2.31 and a beta of 1.10.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.68%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

Insider Activity at Lowe’s Companies

In related news, 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 completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % 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 corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on LOW. JPMorgan Chase & Co. lowered their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Piper Sandler boosted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Gordon Haskett cut their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Sanford C. Bernstein lowered their price target on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a research report on Wednesday, November 20th. Finally, Mizuho boosted their price objective on Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $277.92.

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.