Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Glassy Mountain Advisors Inc.

Glassy Mountain Advisors Inc. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 35,635 shares of the home improvement retailer’s stock after selling 1,395 shares during the period. Lowe’s Companies comprises approximately 3.4% of Glassy Mountain Advisors Inc.’s portfolio, making the stock its 9th biggest holding. Glassy Mountain Advisors Inc.’s holdings in Lowe’s Companies were worth $9,652,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Stephens Consulting LLC boosted its holdings in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Keener Financial Planning LLC acquired a new stake in Lowe’s Companies in the 1st quarter worth approximately $35,000. MFA Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares during the last quarter. Kimelman & Baird LLC bought a new position in Lowe’s Companies in the 2nd quarter worth $37,000. Finally, Tsfg LLC raised its holdings in Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Up 0.0 %

NYSE LOW opened at $261.94 on Friday. The business’s 50-day moving average price is $262.81 and its two-hundred day moving average price is $240.91. The firm has a market capitalization of $148.60 billion, a PE ratio of 21.72, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $189.05 and a 12 month 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, topping 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 business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the firm earned $4.56 earnings per share. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, analysts forecast that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend 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 yield of 1.76%. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on LOW. Telsey Advisory Group raised their target price on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, October 2nd. Evercore ISI increased their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Piper Sandler lifted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. 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 research report on Monday, October 14th. Finally, Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and increased their target price for the stock 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 fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $271.60.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on 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 owns 13,214 shares in the company, 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. 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.