Confluence Investment Management LLC Sells 3,951 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Confluence Investment Management LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOWGet Rating) by 1.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 304,661 shares of the home improvement retailer’s stock after selling 3,951 shares during the period. Confluence Investment Management LLC’s holdings in Lowe’s Companies were worth $53,215,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wiley BROS. Aintree Capital LLC raised its position in Lowe’s Companies by 3.4% in the 2nd quarter. Wiley BROS. Aintree Capital LLC now owns 4,002 shares of the home improvement retailer’s stock valued at $685,000 after purchasing an additional 132 shares during the last quarter. First Financial Bank Trust Division raised its position in Lowe’s Companies by 2.4% in the 2nd quarter. First Financial Bank Trust Division now owns 51,354 shares of the home improvement retailer’s stock valued at $8,970,000 after purchasing an additional 1,225 shares during the last quarter. Amalgamated Bank raised its position in Lowe’s Companies by 2.1% in the 1st quarter. Amalgamated Bank now owns 189,651 shares of the home improvement retailer’s stock valued at $38,346,000 after purchasing an additional 3,913 shares during the last quarter. Kalos Management Inc. bought a new position in Lowe’s Companies in the 1st quarter valued at $442,000. Finally, IMA Wealth Inc. raised its position in Lowe’s Companies by 2.2% in the 1st quarter. IMA Wealth Inc. now owns 9,934 shares of the home improvement retailer’s stock valued at $2,009,000 after purchasing an additional 216 shares during the last quarter. Institutional investors own 74.04% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the company. Robert W. Baird lifted their price objective on Lowe’s Companies from $225.00 to $235.00 and gave the company an “outperform” rating in a research report on Wednesday, August 17th. Piper Sandler boosted their target price on Lowe’s Companies to $248.00 in a research report on Monday, August 22nd. Jefferies Financial Group boosted their target price on Lowe’s Companies from $238.00 to $255.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. Wells Fargo & Company boosted their target price on Lowe’s Companies from $220.00 to $245.00 in a research report on Wednesday, August 17th. Finally, The Goldman Sachs Group boosted their target price on Lowe’s Companies from $224.00 to $252.00 and gave the stock a “buy” rating in a research report on Thursday, August 18th. One analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus target price of $244.05.

Insider Activity

In other news, EVP Seemantini Godbole sold 11,761 shares of the business’s stock in a transaction dated Friday, August 19th. The stock was sold at an average price of $214.37, for a total value of $2,521,205.57. Following the sale, the executive vice president now directly owns 26,575 shares in the company, valued at $5,696,882.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.24% of the company’s stock.

Lowe’s Companies Trading Up 0.4 %

NYSE:LOW opened at $191.81 on Monday. Lowe’s Companies, Inc. has a 1 year low of $170.12 and a 1 year high of $263.31. The stock has a market cap of $119.06 billion, a price-to-earnings ratio of 15.12, a PEG ratio of 1.08 and a beta of 1.22. The stock has a 50-day moving average price of $197.29 and a two-hundred day moving average price of $198.50.

Lowe’s Companies (NYSE:LOWGet Rating) last posted its earnings results on Wednesday, August 17th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.59 by $0.08. Lowe’s Companies had a negative return on equity of 155.26% and a net margin of 8.83%. The firm had revenue of $27.48 billion during the quarter, compared to analysts’ expectations of $28.16 billion. During the same period in the previous year, the firm earned $4.25 earnings per share. The company’s revenue was down .3% on a year-over-year basis. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 13.51 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Stockholders of record on Wednesday, October 19th will be issued a $1.05 dividend. The ex-dividend date is Tuesday, October 18th. This represents a $4.20 dividend on an annualized basis and a dividend yield of 2.19%. Lowe’s Companies’s dividend payout ratio (DPR) is 33.10%.

Lowe’s Companies Company Profile

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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