New Millennium Group LLC Has $38,000 Stake in Lowe's Companies, Inc. (NYSE:LOW)

New Millennium Group LLC lowered its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 97.7% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 140 shares of the home improvement retailer's stock after selling 5,844 shares during the period. New Millennium Group LLC's holdings in Lowe's Companies were worth $38,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. West Family Investments Inc. raised its position in shares of Lowe's Companies by 43.5% during the third quarter. West Family Investments Inc. now owns 1,583 shares of the home improvement retailer's stock valued at $429,000 after buying an additional 480 shares during the last quarter. Second Half Financial Partners LLC acquired a new position in shares of Lowe's Companies during the third quarter valued at about $2,209,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in shares of Lowe's Companies during the third quarter valued at about $16,656,000. W.G. Shaheen & Associates DBA Whitney & Co raised its position in shares of Lowe's Companies by 0.5% during the third quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 54,748 shares of the home improvement retailer's stock valued at $14,829,000 after buying an additional 248 shares during the last quarter. Finally, First City Capital Management Inc. raised its position in shares of Lowe's Companies by 32.6% during the third quarter. First City Capital Management Inc. now owns 8,017 shares of the home improvement retailer's stock valued at $2,171,000 after buying an additional 1,969 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company's stock.

Lowe's Companies Stock Down 4.6 %

NYSE LOW traded down $12.54 during trading hours on Tuesday, hitting $259.23. The company's stock had a trading volume of 4,207,691 shares, compared to its average volume of 2,448,560. The stock has a fifty day moving average of $267.74 and a 200 day moving average of $244.04. Lowe's Companies, Inc. has a twelve month low of $196.23 and a twelve month high of $287.01. The firm has a market capitalization of $147.06 billion, a P/E ratio of 21.63, a PEG ratio of 2.21 and a beta of 1.10.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced its quarterly earnings data 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. Lowe's Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the business posted $4.56 earnings per share. Lowe's Companies's revenue was down 5.5% compared to the same quarter last year. On average, analysts predict that Lowe's Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe's Companies Increases Dividend

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

Wall Street Analyst Weigh In

Several research firms recently issued reports on LOW. Piper Sandler increased their price target on shares of Lowe's Companies from $262.00 to $307.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Oppenheimer raised shares of Lowe's Companies from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Telsey Advisory Group reissued an "outperform" rating and issued a $305.00 price target on shares of Lowe's Companies in a research report on Tuesday. Gordon Haskett dropped their price target on shares of Lowe's Companies from $245.00 to $240.00 and set a "hold" rating for the company in a research report on Wednesday, August 21st. Finally, Loop Capital raised shares of Lowe's Companies from a "hold" rating to a "buy" rating and increased their price target for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $273.84.

Insider Activity at Lowe's Companies

In other Lowe's Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on 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 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 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

About Lowe's Companies

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.