Impax Asset Management Group plc Reduces Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Impax Asset Management Group plc lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 26.6% in the 3rd quarter, HoldingsChannel reports. The fund owned 110,762 shares of the home improvement retailer’s stock after selling 40,239 shares during the period. Impax Asset Management Group plc’s holdings in Lowe’s Companies were worth $30,000,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after buying an additional 2,674,372 shares in the last quarter. International Assets Investment Management LLC lifted its stake in shares of Lowe’s Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after acquiring an additional 2,027,668 shares during the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Lowe’s Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after purchasing an additional 1,199,100 shares during the period. M&G Plc purchased a new stake in Lowe’s Companies during the 1st quarter valued at $217,995,000. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after purchasing an additional 493,180 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 1.2 %

LOW opened at $264.98 on Tuesday. The firm has a market cap of $150.32 billion, a P/E ratio of 21.97, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $189.05 and a 12 month high of $287.01. The stock has a 50-day moving average of $263.10 and a 200 day moving average of $241.25.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the business earned $4.56 earnings per share. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, research analysts forecast that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.74%. Lowe’s Companies’s payout ratio is presently 38.14%.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction 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 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Morgan Stanley boosted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. TD Cowen boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Piper Sandler increased their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $271.60.

Lowe’s Companies Company Profile

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.