Callahan Advisors LLC Sells 3,436 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Callahan Advisors LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 5.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,640 shares of the home improvement retailer’s stock after selling 3,436 shares during the quarter. Lowe’s Companies comprises about 1.7% of Callahan Advisors LLC’s investment portfolio, making the stock its 17th largest holding. Callahan Advisors LLC’s holdings in Lowe’s Companies were worth $17,778,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in LOW. Crew Capital Management Ltd. boosted its position in shares of Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after buying an additional 37 shares during the period. Summit Place Financial Advisors LLC boosted its position in shares of Lowe’s Companies by 2.8% during the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after buying an additional 37 shares during the period. Clean Yield Group boosted its position in shares of Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after buying an additional 38 shares during the period. Drive Wealth Management LLC boosted its position in shares of Lowe’s Companies by 2.2% during the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after buying an additional 41 shares during the period. Finally, Chapin Davis Inc. boosted its position in shares of Lowe’s Companies by 1.3% during the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after buying an additional 41 shares during the period. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on LOW. Royal Bank of Canada reduced their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Telsey Advisory Group increased their price target on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, October 2nd. Morgan Stanley increased their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Eleven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $271.60.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on 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 transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $269.18 on Wednesday. Lowe’s Companies, Inc. has a one year low of $189.05 and a one year high of $287.01. The firm has a market capitalization of $152.70 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.15 and a beta of 1.10. The business has a 50-day simple moving average of $263.51 and a 200 day simple moving average of $241.53.

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 company’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.56 EPS. On average, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced 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 represents a $4.60 dividend on an annualized basis and a dividend yield of 1.71%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s 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.