American Trust Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

American Trust trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 39.6% during the 2nd quarter, Holdings Channel reports. The firm owned 1,407 shares of the home improvement retailer’s stock after selling 921 shares during the quarter. American Trust’s holdings in Lowe’s Companies were worth $310,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of LOW. Drive Wealth Management LLC increased its holdings in shares of Lowe’s Companies by 2.2% in the 2nd 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 last quarter. Crown Wealth Group LLC increased its stake in Lowe’s Companies by 4.4% in the second quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock valued at $232,000 after acquiring an additional 44 shares during the last quarter. Pure Financial Advisors LLC raised its position in Lowe’s Companies by 2.5% during the second quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after purchasing an additional 45 shares in the last quarter. BLB&B Advisors LLC lifted its stake in Lowe’s Companies by 2.2% during the second quarter. BLB&B Advisors LLC now owns 2,062 shares of the home improvement retailer’s stock worth $454,000 after purchasing an additional 45 shares during the last quarter. Finally, Pathway Financial Advisers LLC boosted its holdings in shares of Lowe’s Companies by 3.5% in the 2nd quarter. Pathway Financial Advisers LLC now owns 1,331 shares of the home improvement retailer’s stock worth $292,000 after purchasing an additional 45 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Price Performance

Shares of LOW opened at $271.97 on Thursday. The company has a 50-day simple moving average of $248.33 and a two-hundred day simple moving average of $236.73. The firm has a market capitalization of $154.98 billion, a PE ratio of 21.84, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $274.16.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.56 EPS. Analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal 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 given a $1.15 dividend. 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. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.69%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.26% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on LOW shares. Morgan Stanley boosted their target price on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Gordon Haskett cut their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Bank of America decreased their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Truist Financial upped their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, Loop Capital lifted their price objective on Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $263.54.

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.