Davis R M Inc. Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Davis R M Inc. trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 12,443 shares of the home improvement retailer’s stock after selling 39 shares during the period. Davis R M Inc.’s holdings in Lowe’s Companies were worth $3,370,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Bank of Hawaii grew its position in Lowe’s Companies by 1.6% during the third quarter. Bank of Hawaii now owns 5,091 shares of the home improvement retailer’s stock valued at $1,379,000 after buying an additional 82 shares during the period. Douglass Winthrop Advisors LLC boosted its stake in shares of Lowe’s Companies by 27.2% during the 3rd quarter. Douglass Winthrop Advisors LLC now owns 7,499 shares of the home improvement retailer’s stock worth $2,031,000 after acquiring an additional 1,602 shares during the last quarter. Daiwa Securities Group Inc. grew its position in shares of Lowe’s Companies by 10.4% during the 3rd quarter. Daiwa Securities Group Inc. now owns 72,920 shares of the home improvement retailer’s stock valued at $19,750,000 after acquiring an additional 6,870 shares during the period. Hartford Funds Management Co LLC grew its position in shares of Lowe’s Companies by 2.4% during the 3rd quarter. Hartford Funds Management Co LLC now owns 4,941 shares of the home improvement retailer’s stock valued at $1,338,000 after acquiring an additional 116 shares during the period. Finally, Pekin Hardy Strauss Inc. purchased a new stake in shares of Lowe’s Companies in the 3rd quarter worth $221,000. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

LOW has been the topic of several analyst reports. Mizuho lifted their target price on Lowe’s Companies from $280.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, November 20th. Truist Financial lifted their price objective on Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a research report on Wednesday, November 20th. Sanford C. Bernstein lowered their price target on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Barclays upped their price target on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday, November 20th. Finally, 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 note on Monday, September 30th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $277.92.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Stock Down 0.2 %

Shares of NYSE:LOW opened at $264.68 on Monday. The firm has a fifty day simple moving average of $268.74 and a two-hundred day simple moving average of $244.92. Lowe’s Companies, Inc. has a 52 week low of $196.23 and a 52 week high of $287.01. The stock has a market capitalization of $150.15 billion, a P/E ratio of 22.08, a PEG ratio of 2.22 and a beta of 1.10.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.74%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.37%.

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.