Gleason Group Inc. Has $357,000 Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Gleason Group Inc. lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 7.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 1,319 shares of the home improvement retailer’s stock after selling 102 shares during the quarter. Gleason Group Inc.’s holdings in Lowe’s Companies were worth $357,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. grew its holdings in Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after acquiring an additional 2,674,372 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after purchasing an additional 82,978 shares during the period. 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. Envestnet Asset Management Inc. grew its stake in shares of Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after purchasing an additional 90,945 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its holdings in Lowe’s Companies by 11.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,499,015 shares of the home improvement retailer’s stock valued at $330,473,000 after purchasing an additional 149,649 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.4 %

Lowe’s Companies stock opened at $281.83 on Wednesday. The firm has a market capitalization of $160.60 billion, a price-to-earnings ratio of 22.64, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The firm’s fifty day moving average price is $254.51 and its two-hundred day moving average price is $237.96. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $287.01.

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

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a boost 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 annualized dividend and a dividend yield of 1.63%. Lowe’s Companies’s payout ratio is presently 36.95%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LOW shares. Piper Sandler lifted their target price on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Royal Bank of Canada cut their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Morgan Stanley increased their target price 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. Wells Fargo & Company lowered their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Finally, Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $268.42.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on 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 completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies 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.