Good Life Advisors LLC Sells 647 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Good Life Advisors LLC lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,602 shares of the home improvement retailer’s stock after selling 647 shares during the quarter. Good Life Advisors LLC’s holdings in Lowe’s Companies were worth $2,167,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Axiom Financial Strategies LLC grew its holdings in shares of Lowe’s Companies by 9.8% during the first quarter. Axiom Financial Strategies LLC now owns 1,381 shares of the home improvement retailer’s stock valued at $275,000 after buying an additional 123 shares during the last quarter. United Bank grew its stake in Lowe’s Companies by 6.8% during the 1st quarter. United Bank now owns 9,734 shares of the home improvement retailer’s stock valued at $1,968,000 after purchasing an additional 617 shares during the last quarter. Prudential PLC acquired a new position in shares of Lowe’s Companies in the first quarter valued at about $1,629,000. Baird Financial Group Inc. raised its stake in shares of Lowe’s Companies by 0.4% in the first quarter. Baird Financial Group Inc. now owns 256,098 shares of the home improvement retailer’s stock worth $51,780,000 after purchasing an additional 920 shares during the last quarter. Finally, Covestor Ltd lifted its holdings in shares of Lowe’s Companies by 74.6% during the first quarter. Covestor Ltd now owns 295 shares of the home improvement retailer’s stock worth $60,000 after purchasing an additional 126 shares during the period. Hedge funds and other institutional investors own 71.88% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $220.02 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $176.50 and a fifty-two week high of $237.21. The stock’s fifty day moving average is $227.93 and its two-hundred day moving average is $213.55. The firm has a market capitalization of $126.98 billion, a P/E ratio of 21.66, a PEG ratio of 1.49 and a beta of 1.09.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, topping analysts’ consensus estimates of $4.49 by $0.07. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. The firm had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.97 billion. During the same period in the previous year, the business posted $4.67 earnings per share. Lowe’s Companies’s quarterly revenue was down 9.2% on a year-over-year basis. On average, equities analysts forecast that Lowe’s Companies, Inc. will post 13.46 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a $1.10 dividend. The ex-dividend date is Tuesday, October 24th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.00%. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.31%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Loop Capital increased their price target on shares of Lowe’s Companies from $215.00 to $225.00 and gave the stock a “hold” rating in a report on Wednesday, August 23rd. Bank of America upped their price target on shares of Lowe’s Companies from $278.00 to $289.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. Sanford C. Bernstein upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $252.00 to $282.00 in a research note on Tuesday, September 5th. TD Cowen upped their target price on Lowe’s Companies from $225.00 to $230.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 23rd. Finally, DA Davidson lifted their price target on Lowe’s Companies from $228.00 to $237.00 in a research report on Wednesday, May 24th. Two equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Hold” and an average target price of $237.48.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of the business’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the transaction, the executive vice president now owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Janice Dupre sold 5,380 shares of the firm’s stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the sale, the executive vice president now owns 24,216 shares in the company, valued at approximately $5,600,676.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Joseph Michael Mcfarland sold 4,500 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the completion of the transaction, the executive vice president now owns 46,594 shares in the company, valued at $10,368,562.82. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.