Lowe Brockenbrough & Co. Inc. Sells 4,499 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Lowe Brockenbrough & Co. Inc. lowered its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,806 shares of the home improvement retailer’s stock after selling 4,499 shares during the quarter. Lowe Brockenbrough & Co. Inc.’s holdings in Lowe’s Companies were worth $9,969,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in the stock. Bamco Inc. NY grew its stake in Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after acquiring an additional 20,181 shares in the last quarter. Plato Investment Management Ltd raised its position in shares of Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after buying an additional 5,470 shares in the last quarter. Lincoln National Corp boosted its stake in Lowe’s Companies by 1.5% during the first quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer’s stock valued at $2,835,000 after buying an additional 169 shares during the period. HM Payson & Co. grew its position in Lowe’s Companies by 1.1% during the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after buying an additional 2,322 shares in the last quarter. Finally, Daymark Wealth Partners LLC grew its position in Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after buying an additional 2,889 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on LOW shares. Bank of America lifted their price target on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Wells Fargo & Company dropped their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Truist Financial increased their price target on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Finally, Royal Bank of Canada reduced their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $271.60.

Lowe’s Companies Stock Up 0.0 %

Shares of Lowe’s Companies stock opened at $261.94 on Friday. The business has a 50 day moving average of $262.81 and a 200 day moving average of $240.82. The company has a market cap of $148.60 billion, a PE ratio of 21.72, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 52 week low of $189.05 and a 52 week high of $287.01.

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 analysts’ consensus estimates 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 firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the firm posted $4.56 EPS. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current 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 given a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. 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 dividend yield of 1.76%. Lowe’s Companies’s payout ratio is currently 38.14%.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on 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 $3,586,940.30. The trade was 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 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.