The Manufacturers Life Insurance Company Sells 39,736 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

The Manufacturers Life Insurance Company lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.7% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 1,459,279 shares of the home improvement retailer’s stock after selling 39,736 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.26% of Lowe’s Companies worth $395,246,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LOW. International Assets Investment Management LLC increased its stake in shares of Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC lifted its holdings 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 worth $2,657,000 after buying an additional 1,199,100 shares in the last quarter. Applied Finance Capital Management LLC boosted its position in shares of Lowe’s Companies by 387.7% in the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after acquiring an additional 645,017 shares during the period. Marshall Wace LLP grew its stake in shares of Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock valued at $162,178,000 after acquiring an additional 463,645 shares in the last quarter. Finally, Hardin Capital Partners LLC bought a new position in Lowe’s Companies during the second quarter worth about $74,763,000. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the 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 completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred 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 owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have issued reports on LOW. Royal Bank of Canada boosted their price objective on shares of Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a report on Wednesday, November 20th. Mizuho boosted their price target on Lowe’s Companies from $280.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, November 20th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, Truist Financial increased their target price on Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday, November 20th. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Trading Up 4.0 %

NYSE:LOW opened at $275.33 on Tuesday. The stock’s 50-day moving average is $269.11 and its 200-day moving average is $245.19. Lowe’s Companies, Inc. has a 1-year low of $196.32 and a 1-year high of $287.01. The stock has a market cap of $156.19 billion, a P/E ratio of 22.96, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.67%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 38.37%.

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.