Lowe’s Companies, Inc. (NYSE:LOW) Stock Holdings Trimmed by abrdn plc

abrdn plc lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% during the 2nd quarter, Holdings Channel reports. The fund owned 1,657,892 shares of the home improvement retailer’s stock after selling 70,392 shares during the period. abrdn plc’s holdings in Lowe’s Companies were worth $321,631,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also made changes to their positions in the business. Segment Wealth Management LLC raised its stake in shares of Lowe’s Companies by 2.6% in the 1st quarter. Segment Wealth Management LLC now owns 1,964 shares of the home improvement retailer’s stock worth $374,000 after buying an additional 50 shares in the last quarter. Northstar Group Inc. raised its stake in shares of Lowe’s Companies by 2.3% in the 1st quarter. Northstar Group Inc. now owns 2,291 shares of the home improvement retailer’s stock worth $436,000 after buying an additional 52 shares in the last quarter. Bluesphere Advisors LLC raised its stake in shares of Lowe’s Companies by 2.1% in the 1st quarter. Bluesphere Advisors LLC now owns 2,597 shares of the home improvement retailer’s stock worth $494,000 after buying an additional 53 shares in the last quarter. D. Scott Neal Inc. raised its stake in shares of Lowe’s Companies by 3.7% in the 2nd quarter. D. Scott Neal Inc. now owns 1,491 shares of the home improvement retailer’s stock worth $289,000 after buying an additional 53 shares in the last quarter. Finally, Cordasco Financial Network raised its position in shares of Lowe’s Companies by 18.6% during the second quarter. Cordasco Financial Network now owns 344 shares of the home improvement retailer’s stock worth $67,000 after purchasing an additional 54 shares during the period. 72.80% of the stock is currently owned by hedge funds and other institutional investors.

LOW has been the topic of a number of recent analyst reports. Credit Suisse Group boosted their target price on Lowe’s Companies from $208.00 to $220.00 and gave the stock an “outperform” rating in a research report on Thursday, August 19th. Wedbush lowered Lowe’s Companies from an “outperform” rating to a “neutral” rating and cut their target price for the stock from $225.00 to $210.00 in a research report on Monday, July 26th. Robert W. Baird boosted their target price on Lowe’s Companies from $230.00 to $235.00 and gave the stock an “outperform” rating in a research report on Thursday, May 20th. OTR Global lowered Lowe’s Companies to a “positive” rating in a research report on Tuesday, August 10th. Finally, Bank of America reaffirmed a “buy” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, May 19th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus price target of $216.26.

NYSE LOW traded up $0.77 on Wednesday, reaching $204.94. The stock had a trading volume of 91,643 shares, compared to its average volume of 3,904,635. The company has a market capitalization of $141.91 billion, a price-to-earnings ratio of 21.07, a P/E/G ratio of 1.26 and a beta of 1.34. The business has a 50 day moving average price of $197.79 and a 200 day moving average price of $192.88. Lowe’s Companies, Inc. has a 1 year low of $146.72 and a 1 year high of $215.22. The company has a current ratio of 1.16, a quick ratio of 0.36 and a debt-to-equity ratio of 49.23.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 17th. The home improvement retailer reported $4.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $4.01 by $0.24. The business had revenue of $27.57 billion for the quarter, compared to the consensus estimate of $26.76 billion. Lowe’s Companies had a return on equity of 541.39% and a net margin of 7.41%. The firm’s revenue was up 1.0% compared to the same quarter last year. During the same period last year, the business earned $3.75 EPS. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.26 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 3rd. Shareholders of record on Wednesday, October 20th will be given a dividend of $0.80 per share. The ex-dividend date is Tuesday, October 19th. This represents a $3.20 dividend on an annualized basis and a yield of 1.56%. Lowe’s Companies’s payout ratio is currently 36.12%.

Lowe’s Companies Company Profile

Lowe’s Cos., Inc engages in the retail sale of home improvement products. The firm offers products for maintenance, repair, remodelling, home decorating and property maintenance. It also provides home improvement products in the following categories: appliances, bathroom, building supply, electrical, flooring, hardware, paint, kitchen, plumbing, lighting & fans, outdoor living, windows and doors.

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

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