TCTC Holdings LLC Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

TCTC Holdings LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 118,104 shares of the home improvement retailer’s stock after selling 435 shares during the quarter. Lowe’s Companies accounts for about 1.1% of TCTC Holdings LLC’s portfolio, making the stock its 25th largest holding. TCTC Holdings LLC’s holdings in Lowe’s Companies were worth $31,988,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the business. Tectonic Advisors LLC raised its stake in shares of Lowe’s Companies by 18.5% in the first quarter. Tectonic Advisors LLC now owns 4,793 shares of the home improvement retailer’s stock valued at $1,221,000 after acquiring an additional 749 shares in the last quarter. TCI Wealth Advisors Inc. boosted its stake in shares of Lowe’s Companies by 6.7% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,696 shares of the home improvement retailer’s stock worth $432,000 after acquiring an additional 107 shares in the last quarter. Montag A & Associates Inc. boosted its stake in shares of Lowe’s Companies by 97.7% during the 1st quarter. Montag A & Associates Inc. now owns 20,009 shares of the home improvement retailer’s stock worth $5,097,000 after acquiring an additional 9,887 shares in the last quarter. Angeles Wealth Management LLC lifted its stake in Lowe’s Companies by 36.9% in the 1st quarter. Angeles Wealth Management LLC now owns 1,585 shares of the home improvement retailer’s stock valued at $404,000 after buying an additional 427 shares in the last quarter. Finally, Reynders McVeigh Capital Management LLC lifted its stake in Lowe’s Companies by 6.8% in the 1st quarter. Reynders McVeigh Capital Management LLC now owns 1,417 shares of the home improvement retailer’s stock valued at $361,000 after buying an additional 90 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $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 available through this link. Also, 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 value of $1,555,408.50. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of research analyst reports. Sanford C. Bernstein assumed coverage on Lowe’s Companies in a report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price objective for the company. Evercore ISI raised their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Wedbush reiterated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Wells Fargo & Company lifted their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. dropped their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $273.44.

Lowe’s Companies Price Performance

LOW opened at $271.10 on Friday. The stock has a 50-day moving average price of $264.61 and a 200-day moving average price of $242.11. The firm has a market cap of $153.79 billion, a PE ratio of 22.48, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $189.05 and a 1 year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion during 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 quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.56 EPS. As a group, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.70%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

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.