CCM Investment Advisers LLC Has $538,000 Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Posted by on Sep 13th, 2023

CCM Investment Advisers LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 5.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,690 shares of the home improvement retailer’s stock after selling 142 shares during the period. CCM Investment Advisers LLC’s holdings in Lowe’s Companies were worth $538,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Morgan Stanley grew its holdings in Lowe’s Companies by 21.3% during the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after buying an additional 2,050,089 shares in the last quarter. Norges Bank purchased a new position in Lowe’s Companies during the fourth quarter worth about $1,461,267,000. Moneta Group Investment Advisors LLC boosted its holdings in Lowe’s Companies by 107,710.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock worth $1,012,147,000 after purchasing an additional 5,075,327 shares during the last quarter. Franklin Resources Inc. boosted its holdings in Lowe’s Companies by 0.3% during the fourth quarter. Franklin Resources Inc. now owns 3,623,125 shares of the home improvement retailer’s stock worth $721,871,000 after purchasing an additional 10,340 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Lowe’s Companies by 11.3% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 2,704,721 shares of the home improvement retailer’s stock worth $538,889,000 after purchasing an additional 273,884 shares during the last quarter. Institutional investors own 71.88% of the company’s stock.

Lowe’s Companies Trading Down 0.6 %

LOW opened at $230.42 on Wednesday. The stock has a market capitalization of $132.98 billion, a P/E ratio of 22.68, a PEG ratio of 1.52 and a beta of 1.09. Lowe’s Companies, Inc. has a 12-month low of $176.50 and a 12-month high of $237.21. The stock has a 50-day moving average price of $227.72 and a 200-day moving average price of $213.15.

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

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be issued a dividend of $1.10 per share. This represents a $4.40 annualized dividend and a yield of 1.91%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s dividend payout ratio is presently 43.31%.

Insider Activity at Lowe’s Companies

In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of the company’s 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 directly owns 46,594 shares in the company, valued at approximately $10,368,562.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the transaction, the executive vice president now owns 46,594 shares in the company, valued at approximately $10,368,562.82. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the sale, the executive vice president now owns 24,216 shares in the company, valued at approximately $5,600,676.48. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on LOW shares. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, August 24th. Bank of America raised their price objective on shares of Lowe’s Companies from $278.00 to $289.00 and gave the stock a “buy” rating in a report on Wednesday, August 23rd. TD Cowen raised their price objective on shares of Lowe’s Companies from $225.00 to $230.00 and gave the stock a “market perform” rating in a report on Wednesday, August 23rd. UBS Group increased their price objective on Lowe’s Companies from $250.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. Finally, The Goldman Sachs Group reduced their price objective on Lowe’s Companies from $260.00 to $252.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $237.48.

Check Out Our Latest Research Report on LOW

Lowe’s Companies Company 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 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.

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

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