Silverlake Wealth Management LLC Reduces Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Silverlake Wealth Management LLC lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 10.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,116 shares of the home improvement retailer’s stock after selling 256 shares during the period. Silverlake Wealth Management LLC’s holdings in Lowe’s Companies were worth $573,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Voisard Asset Management Group Inc. purchased a new stake in Lowe’s Companies in the 4th quarter valued at approximately $28,000. Transcendent Capital Group LLC purchased a new stake in shares of Lowe’s Companies in the fourth quarter valued at $31,000. Stephens Consulting LLC boosted its stake in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the last quarter. Keener Financial Planning LLC purchased a new stake in Lowe’s Companies during the 1st quarter worth about $35,000. Finally, Kimelman & Baird LLC acquired a new position in Lowe’s Companies in the 2nd quarter valued at about $37,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the stock. Royal Bank of Canada lowered their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Piper Sandler boosted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Telsey Advisory Group raised their price objective on Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, October 2nd. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and upped their target price for the company from $250.00 to $300.00 in a research note on Wednesday. Finally, Melius Research began coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target on the stock. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $266.88.

Lowe’s Companies Price Performance

LOW traded up $2.55 during trading hours on Friday, reaching $275.76. 1,303,706 shares of the stock traded hands, compared to its average volume of 2,464,866. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $278.10. The company has a market cap of $157.14 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 2.28 and a beta of 1.10. The firm’s fifty day simple moving average is $252.80 and its two-hundred day simple moving average is $237.79.

Lowe’s Companies (NYSE:LOW) last announced its 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. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the firm earned $4.56 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. On average, research analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.67%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated 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 transaction, the executive vice president now owns 13,214 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.