Vectors Research Management LLC Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Vectors Research Management LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 6,931 shares of the home improvement retailer’s stock after selling 133 shares during the period. Vectors Research Management LLC’s holdings in Lowe’s Companies were worth $1,876,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Bamco Inc. NY increased its stake in shares of Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after acquiring an additional 20,181 shares during the period. Plato Investment Management Ltd boosted its stake in 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 valued at $1,606,000 after acquiring an additional 5,470 shares in the last quarter. HM Payson & Co. increased its position in Lowe’s Companies by 1.1% during the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after purchasing an additional 2,322 shares during the period. Daymark Wealth Partners LLC lifted its stake in Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after buying an additional 2,889 shares in the last quarter. Finally, AMF Tjanstepension AB boosted its stake in Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after buying an additional 20,123 shares during the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Lowe’s Companies 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 value of $1,684,262.58. Following the completion of the sale, 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 41.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s 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 completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on LOW. Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Piper Sandler upped their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Telsey Advisory Group upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $275.00 to $305.00 in a report on Friday, November 8th. Royal Bank of Canada decreased their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Finally, Bank of America upped their price objective on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $273.84.

Lowe’s Companies Trading Down 0.7 %

Shares of LOW opened at $270.35 on Friday. The firm has a market cap of $153.37 billion, a P/E ratio of 22.42, a PEG ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The stock’s 50 day moving average is $266.16 and its two-hundred day moving average is $243.06.

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. 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 for the quarter, compared to analyst estimates of $23.93 billion. During the same period last year, the company posted $4.56 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. Equities research analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a $1.15 dividend. 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 yield of 1.70%. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 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.