abrdn plc Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

abrdn plc decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,657,892 shares of the home improvement retailer’s stock after selling 70,392 shares during the quarter. abrdn plc owned about 0.23% of Lowe’s Companies worth $321,631,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Segment Wealth Management LLC grew its position in shares of Lowe’s Companies by 2.6% during the first quarter. Segment Wealth Management LLC now owns 1,964 shares of the home improvement retailer’s stock worth $374,000 after acquiring an additional 50 shares during the last quarter. Northstar Group Inc. grew its position in shares of Lowe’s Companies by 2.3% during the first quarter. Northstar Group Inc. now owns 2,291 shares of the home improvement retailer’s stock worth $436,000 after acquiring an additional 52 shares during the last quarter. Bluesphere Advisors LLC grew its position in shares of Lowe’s Companies by 2.1% during the first quarter. Bluesphere Advisors LLC now owns 2,597 shares of the home improvement retailer’s stock worth $494,000 after acquiring an additional 53 shares during the last quarter. D. Scott Neal Inc. grew its position in shares of Lowe’s Companies by 3.7% during the second quarter. D. Scott Neal Inc. now owns 1,491 shares of the home improvement retailer’s stock worth $289,000 after acquiring an additional 53 shares during the last quarter. Finally, Cordasco Financial Network grew its position in Lowe’s Companies by 18.6% in the 2nd quarter. Cordasco Financial Network now owns 344 shares of the home improvement retailer’s stock valued at $67,000 after buying an additional 54 shares during the last quarter. 72.80% of the stock is owned by institutional investors and hedge funds.

Several analysts have recently commented on the company. TheStreet cut Lowe’s Companies from a “b” rating to a “c+” rating in a report on Wednesday, August 18th. Royal Bank of Canada increased their price target on shares of Lowe’s Companies from $234.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, May 20th. OTR Global downgraded shares of Lowe’s Companies to a “positive” rating in a report on Tuesday, August 10th. Wedbush downgraded shares of Lowe’s Companies from an “outperform” rating to a “neutral” rating and reduced their price target for the company from $225.00 to $210.00 in a research report on Monday, July 26th. Finally, Truist Securities raised their price objective on Lowe’s Companies from $185.00 to $217.00 and gave the company a “buy” rating in a research note on Thursday, May 20th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $216.26.

NYSE:LOW traded up $0.77 during mid-day trading on Wednesday, reaching $204.94. The company’s stock had a trading volume of 91,643 shares, compared to its average volume of 3,904,635. The company’s fifty day simple moving average is $197.79 and its two-hundred day simple moving average is $192.88. The company has a debt-to-equity ratio of 49.23, a current ratio of 1.16 and a quick ratio of 0.36. Lowe’s Companies, Inc. has a twelve month low of $146.72 and a twelve month high of $215.22. The stock has a market cap of $141.91 billion, a P/E ratio of 21.07, a P/E/G ratio of 1.26 and a beta of 1.34.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 17th. The home improvement retailer reported $4.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.01 by $0.24. The firm had revenue of $27.57 billion for the quarter, compared to analyst estimates 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 quarterly revenue was up 1.0% on a year-over-year basis. During the same period last year, the company earned $3.75 EPS. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.26 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 3rd. Stockholders of record on Wednesday, October 20th will be issued a $0.80 dividend. The ex-dividend date of this dividend is Tuesday, October 19th. This represents a $3.20 dividend on an annualized basis and a dividend yield of 1.56%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.12%.

Lowe’s Companies 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.

Featured Article: How does equity income fit into an investing strategy?

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

Receive News & Ratings for Lowe's Companies Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Lowe's Companies and related companies with MarketBeat.com's FREE daily email newsletter.