Dover Advisors LLC Sells 38 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Dover Advisors LLC decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 10,699 shares of the home improvement retailer’s stock after selling 38 shares during the period. Lowe’s Companies comprises about 1.6% of Dover Advisors LLC’s investment portfolio, making the stock its 12th biggest position. Dover Advisors LLC’s holdings in Lowe’s Companies were worth $2,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the stock. Bamco Inc. NY boosted its position in Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after buying an additional 20,181 shares during the period. Plato Investment Management Ltd raised its position in Lowe’s Companies by 655.9% during the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares during the last quarter. 17 Capital Partners LLC purchased a new stake in Lowe’s Companies in the 1st quarter worth approximately $1,368,000. Lincoln National Corp grew its position in shares of Lowe’s Companies by 1.5% in the 1st quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer’s stock worth $2,835,000 after buying an additional 169 shares during the last quarter. Finally, Daymark Wealth Partners LLC increased its stake in shares of Lowe’s Companies by 12.7% during the second 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 during the period. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Price Performance

Shares of NYSE LOW traded up $1.19 during midday trading on Tuesday, hitting $281.92. 2,369,064 shares of the company’s stock were exchanged, compared to its average volume of 2,460,845. The firm’s fifty day simple moving average is $253.68 and its 200-day simple moving average is $237.77. The company has a market cap of $160.65 billion, a PE ratio of 22.57, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $287.01.

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 (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $4.56 earnings per share. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.63%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on LOW. Royal Bank of Canada decreased their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Wedbush reissued 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 decreased their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Gordon Haskett reduced their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Finally, Piper Sandler boosted their target price on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $268.42.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’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 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s 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 in the company, valued at $3,586,940.30. 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 at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $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. 0.26% of the stock is owned by corporate insiders.

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.