Meeder Asset Management Inc. Has $6.45 Million Holdings in Lowe's Companies, Inc. (NYSE:LOW)

Meeder Asset Management Inc. increased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 693.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,829 shares of the home improvement retailer's stock after buying an additional 20,826 shares during the quarter. Meeder Asset Management Inc.'s holdings in Lowe's Companies were worth $6,454,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the business. Crew Capital Management Ltd. boosted its stake in Lowe's Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer's stock valued at $1,049,000 after buying an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC lifted its holdings in Lowe's Companies by 2.8% in the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer's stock valued at $372,000 after acquiring an additional 37 shares during the last quarter. Clean Yield Group boosted its position in shares of Lowe's Companies by 2.4% during the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer's stock valued at $433,000 after purchasing an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. grew its stake in shares of Lowe's Companies by 0.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer's stock worth $2,021,000 after purchasing an additional 40 shares during the last quarter. Finally, Drive Wealth Management LLC raised its holdings in shares of Lowe's Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer's stock worth $418,000 after purchasing an additional 41 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Lowe's Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company's stock in a transaction dated 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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on LOW shares. Oppenheimer upgraded shares of Lowe's Companies from a "market perform" rating to an "outperform" rating and lifted their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Morgan Stanley lifted their target price on Lowe's Companies from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Truist Financial increased their price target on Lowe's Companies from $306.00 to $307.00 and gave the company a "buy" rating in a research report on Thursday, November 7th. Stifel Nicolaus boosted their price objective on Lowe's Companies from $250.00 to $260.00 and gave the stock a "hold" rating in a report on Monday, November 11th. Finally, Royal Bank of Canada reduced their price objective on shares of Lowe's Companies from $245.00 to $238.00 and set a "sector perform" rating for the company in a research note on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Lowe's Companies presently has an average rating of "Moderate Buy" and a consensus target price of $273.84.

Lowe's Companies Price Performance

Shares of Lowe's Companies stock traded down $12.54 during midday trading on Tuesday, hitting $259.23. The company had a trading volume of 4,207,691 shares, compared to its average volume of 2,448,560. The stock has a market cap of $147.06 billion, a PE ratio of 21.50, a P/E/G ratio of 2.21 and a beta of 1.10. Lowe's Companies, Inc. has a 1-year low of $196.23 and a 1-year high of $287.01. The business's 50 day simple moving average is $267.97 and its two-hundred day simple moving average is $244.23.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe's Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the firm posted $4.56 EPS. The business's revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts expect that Lowe's Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.77%. This is a positive change from Lowe's Companies's previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. Lowe's Companies's dividend payout ratio is presently 38.14%.

Lowe's Companies Company 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.