Madison Asset Management LLC Sells 23,868 Shares of Lowe’s Companies, Inc. $LOW

Madison Asset Management LLC reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,815 shares of the home improvement retailer’s stock after selling 23,868 shares during the period. Lowe’s Companies makes up approximately 1.1% of Madison Asset Management LLC’s investment portfolio, making the stock its 25th biggest position. Madison Asset Management LLC owned 0.07% of Lowe’s Companies worth $102,488,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of LOW. Activest Wealth Management increased its holdings in Lowe’s Companies by 78.5% during the 3rd quarter. Activest Wealth Management now owns 116 shares of the home improvement retailer’s stock worth $29,000 after purchasing an additional 51 shares in the last quarter. Howard Hughes Medical Institute purchased a new stake in Lowe’s Companies in the 2nd quarter worth approximately $27,000. Solstein Capital LLC grew its position in shares of Lowe’s Companies by 627.8% during the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 113 shares in the last quarter. Traub Capital Management LLC bought a new position in shares of Lowe’s Companies in the second quarter worth $30,000. Finally, Vermillion & White Wealth Management Group LLC raised its position in shares of Lowe’s Companies by 128.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 76 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insiders Place Their Bets

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the stock in a transaction on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the sale, the chief executive officer owned 231,043 shares in the company, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.27% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. UBS Group dropped their price target on Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Lowe’s Companies in a research report on Monday, December 29th. Sanford C. Bernstein boosted their target price on Lowe’s Companies from $282.00 to $284.00 and gave the stock an “outperform” rating in a research report on Thursday, November 20th. HSBC cut their price target on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a report on Friday, November 21st. Finally, Truist Financial set a $295.00 price target on Lowe’s Companies in a research report on Friday, January 16th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $284.77.

Lowe’s Companies Stock Up 2.7%

Shares of LOW opened at $284.30 on Wednesday. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $285.73. The stock has a market cap of $159.48 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 4.33 and a beta of 0.97. The business has a 50-day simple moving average of $258.68 and a two-hundred day simple moving average of $250.69.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. During the same period in the prior year, the firm posted $2.89 EPS. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st were paid a dividend of $1.20 per share. The ex-dividend date was Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Lowe’s Companies’s payout ratio is 39.80%.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.