Thrive Wealth Management LLC Raises Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Thrive Wealth Management LLC increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 11.2% in the 2nd quarter, HoldingsChannel reports. The fund owned 1,130 shares of the home improvement retailer’s stock after purchasing an additional 114 shares during the period. Thrive Wealth Management LLC’s holdings in Lowe’s Companies were worth $255,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in LOW. Legacy Bridge LLC boosted its holdings in Lowe’s Companies by 3.2% in the 2nd quarter. Legacy Bridge LLC now owns 8,350 shares of the home improvement retailer’s stock worth $1,885,000 after buying an additional 260 shares during the period. Atlantic Union Bankshares Corp lifted its position in shares of Lowe’s Companies by 0.6% during the second quarter. Atlantic Union Bankshares Corp now owns 55,724 shares of the home improvement retailer’s stock worth $12,577,000 after acquiring an additional 313 shares in the last quarter. Selective Wealth Management Inc. purchased a new position in shares of Lowe’s Companies in the second quarter valued at $1,145,000. New Hampshire Trust raised its stake in shares of Lowe’s Companies by 1.5% during the 2nd quarter. New Hampshire Trust now owns 4,243 shares of the home improvement retailer’s stock valued at $958,000 after purchasing an additional 61 shares during the period. Finally, Norway Savings Bank lifted its holdings in Lowe’s Companies by 3.6% during the 2nd quarter. Norway Savings Bank now owns 6,653 shares of the home improvement retailer’s stock worth $1,502,000 after purchasing an additional 230 shares in the last quarter. 71.88% of the stock is currently owned by institutional investors.

Lowe’s Companies Trading Down 1.0 %

Shares of NYSE:LOW opened at $217.72 on Tuesday. The stock has a market capitalization of $125.65 billion, a P/E ratio of 21.43, a price-to-earnings-growth ratio of 1.43 and a beta of 1.09. The stock’s 50-day moving average price is $227.93 and its 200-day moving average price is $213.68. Lowe’s Companies, Inc. has a 12-month low of $176.50 and a 12-month high of $237.21.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.07. The company had revenue of $24.96 billion during the quarter, compared to analysts’ expectations of $24.97 billion. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. Lowe’s Companies’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the business posted $4.67 EPS. As a group, research analysts predict that Lowe’s Companies, Inc. will post 13.45 EPS for the current year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be paid a $1.10 dividend. This represents a $4.40 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s payout ratio is 43.31%.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of the stock in a transaction on Monday, August 28th. The shares were sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the completion of the sale, the executive vice president now owns 46,594 shares of the company’s stock, valued at approximately $10,368,562.82. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, EVP Joseph Michael Mcfarland sold 4,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the completion of the transaction, the executive vice president now directly owns 46,594 shares of the company’s stock, valued at $10,368,562.82. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Janice Dupre sold 5,380 shares of the stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the sale, the executive vice president now owns 24,216 shares of the company’s stock, valued at $5,600,676.48. The disclosure for this sale can be found here. 0.24% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on LOW. Evercore ISI decreased their price target on Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating on the stock in a research report on Friday, September 8th. Truist Financial upped their target price on shares of Lowe’s Companies from $249.00 to $256.00 and gave the stock a “buy” rating in a report on Wednesday, August 23rd. Citigroup raised their price target on shares of Lowe’s Companies from $221.00 to $250.00 and gave the company a “neutral” rating in a report on Wednesday, August 2nd. Sanford C. Bernstein upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $252.00 to $282.00 in a research report on Tuesday, September 5th. Finally, Guggenheim increased their price objective on Lowe’s Companies from $240.00 to $250.00 and gave the stock a “buy” rating in a research report on Wednesday, August 23rd. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $237.48.

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.