Cannon Financial Strategists Inc. Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cannon Financial Strategists Inc. lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 4.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 948 shares of the home improvement retailer’s stock after selling 42 shares during the quarter. Cannon Financial Strategists Inc.’s holdings in Lowe’s Companies were worth $257,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in LOW. Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies during the 1st quarter valued at $35,000. Stephens Consulting LLC raised its position in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the period. Kimelman & Baird LLC bought a new stake in shares of Lowe’s Companies during the 2nd quarter valued at $37,000. Tsfg LLC raised its position 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 purchasing an additional 100 shares during the period. Finally, Tradewinds Capital Management LLC increased its holdings in Lowe’s Companies by 54.7% in the 1st quarter. Tradewinds Capital Management LLC now owns 198 shares of the home improvement retailer’s stock valued at $50,000 after acquiring an additional 70 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Trading Down 1.4 %

Shares of LOW stock traded down $3.81 during trading hours on Monday, hitting $277.83. The company’s stock had a trading volume of 401,106 shares, compared to its average volume of 2,440,738. The company has a 50 day moving average of $257.37 and a 200 day moving average of $238.75. The stock has a market cap of $158.32 billion, a PE ratio of 22.62, 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.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating 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 net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.56 EPS. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.66%. Lowe’s Companies’s dividend payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of research reports. Truist Financial lifted their price target on shares of Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a report on Monday, October 14th. Evercore ISI lifted their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Melius Research started coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective for the company. Finally, Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $268.42.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction on Thursday, September 12th. The shares were 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 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 sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’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 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, 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. 0.26% of the stock is currently owned by insiders.

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.