Douglas Lane & Associates LLC Decreases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Douglas Lane & Associates LLC reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 10.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 271,569 shares of the home improvement retailer’s stock after selling 30,424 shares during the period. Douglas Lane & Associates LLC’s holdings in Lowe’s Companies were worth $73,554,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bamco Inc. NY grew its position in shares of Lowe’s Companies by 10.3% in the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares during the last quarter. Plato Investment Management Ltd grew its position in shares of Lowe’s Companies by 655.9% in the 1st 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 during the last quarter. 17 Capital Partners LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter worth approximately $1,368,000. Gerber LLC bought a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $235,000. Finally, Lincoln National Corp boosted its position in shares of 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 purchasing an additional 169 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Transactions at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated 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 transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred 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 completion of 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 represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on LOW. Truist Financial lifted their price target on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. UBS Group lifted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. TD Cowen lifted their price target on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research report on Thursday, September 19th. Gordon Haskett dropped their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Finally, Telsey Advisory Group boosted their target price on Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, October 2nd. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $266.88.

Lowe’s Companies Stock Up 0.9 %

LOW traded up $2.55 during midday trading on Friday, reaching $275.76. The company had a trading volume of 1,303,706 shares, compared to its average volume of 2,464,866. The business has a 50-day moving average of $252.80 and a two-hundred day moving average of $237.69. The company has a market cap of $157.14 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $278.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates 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 quarter in the prior year, the company posted $4.56 earnings per share. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.67%. Lowe’s Companies’s dividend payout ratio is 36.95%.

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.