Dorsey & Whitney Trust CO LLC increases its stake in Lowe’s Companies, Inc. (NYSE:LOW)

Dorsey & Whitney Trust CO LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 2.3% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,024 shares of the home improvement retailer’s stock after purchasing an additional 160 shares during the period. Dorsey & Whitney Trust CO LLC’s holdings in Lowe’s Companies were worth $1,549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in LOW. 9258 Wealth Management LLC raised its position in shares of Lowe’s Companies by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock valued at $531,000 after buying an additional 474 shares during the last quarter. Gryphon Financial Partners LLC grew its position in shares of Lowe’s Companies by 10.6% in the fourth quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock valued at $315,000 after purchasing an additional 138 shares in the last quarter. Avantax Advisory Services Inc. raised its position in shares of Lowe’s Companies by 8.7% in the fourth quarter. Avantax Advisory Services Inc. now owns 28,818 shares of the home improvement retailer’s stock valued at $6,413,000 after purchasing an additional 2,304 shares during the last quarter. Advisor OS LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $226,000. Finally, Quotient Wealth Partners LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at about $402,000. 74.06% of the shares are currently owned by hedge funds and other institutional investors.

Analyst upgrades and downgrades

LOW has been the subject of several recent analyst reports. Piper Sandler reduced their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Royal Bank of Canada decreased their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Bank of America reduced their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, August 21st. Finally, Evercore ISI boosted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $252.83, according to MarketBeat.com.

Read our latest review of LOW

Lowe’s Companies trades up 1.1%

Shares of Lowe’s Companies stock opened at $247.43 on Wednesday. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The stock’s fifty-day simple moving average is $237.82, and its 200-day simple moving average is $234.40. The firm has a market cap of $140.36 billion, a P/E ratio of 19.87, a P/E/G ratio of 2.00 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW – Get Your Free Report ) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’ revenue for the quarter was down 5.5% compared to the same quarter last year. In the same quarter last year, the company posted earnings of $4.56 per share. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Raises Dividends

The firm also recently announced 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 represents an annualized dividend of $4.60 and a yield of 1.86%. The ex-dividend date of this dividend is Wednesday, October 23. This is a positive change from Lowe’s Companies’ previous quarterly dividend of $0.15. Lowe’s Companies’ dividend payout ratio is 36.95%.

Lowe’s Companies Profile

(Free Report)

Lowe’s Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States. The company offers a line of construction, maintenance, repair, remodeling and decorating products. Also offers home improvement products such as appliances, seasonal and outdoor living, lawn and garden, lumber, kitchen and bath, tools, paint, millwork, hardware, flooring, rough plumbing, building materials , decoration and electricity.

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