Optimum Investment Advisors Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Optimum Investment Advisors cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 26.1% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 425 shares of the home improvement retailer’s stock after selling 150 shares during the quarter. Optimum Investment Advisors’ holdings in Lowe’s Companies were worth $115,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Stephens Consulting LLC raised its holdings in shares of Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the period. Keener Financial Planning LLC purchased a new stake in shares of Lowe’s Companies during the 1st quarter valued at about $35,000. Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies during the 2nd quarter valued at about $37,000. Tsfg LLC raised its holdings in shares of Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 100 shares during the period. Finally, Lynx Investment Advisory purchased a new stake in shares of Lowe’s Companies during the 2nd quarter valued at about $49,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The stock was 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 directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Lowe’s Companies Trading Down 1.0 %

Shares of NYSE LOW opened at $281.31 on Friday. The company has a market cap of $160.30 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $287.01. The stock’s 50 day simple moving average is $256.46 and its 200 day simple moving average is $238.58.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results 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. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s revenue was down 5.5% on a year-over-year basis. During the same quarter last year, the business posted $4.56 EPS. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal 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 paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.64%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 36.95%.

Analyst Ratings Changes

Several equities research analysts recently commented on LOW shares. Truist Financial raised their target price on Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a report on Monday. Melius Research initiated coverage on Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price on the stock. TD Cowen raised their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Thursday, September 19th. Telsey Advisory Group raised their price objective on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company lowered their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.42.

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.