Alpha Omega Wealth Management LLC Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Alpha Omega Wealth Management LLC trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,983 shares of the home improvement retailer’s stock after selling 547 shares during the period. Alpha Omega Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,433,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of the stock. Voisard Asset Management Group Inc. acquired a new position in shares of Lowe’s Companies in the fourth quarter worth $28,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies during the 4th quarter worth about $31,000. Stephens Consulting LLC increased its position in Lowe’s Companies by 93.3% during the 2nd 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 position in Lowe’s Companies in the 1st quarter valued at about $35,000. Finally, Kimelman & Baird LLC purchased a new position in Lowe’s Companies in the 2nd quarter valued at about $37,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

LOW has been the subject of a number of analyst reports. Melius Research began coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Evercore ISI upped their target price on 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. Finally, Telsey Advisory Group raised their price target on Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday. Twelve analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $263.54.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW opened at $270.30 on Friday. The business’s 50-day simple moving average is $249.04 and its 200 day simple moving average is $236.96. The company has a market cap of $154.03 billion, a P/E ratio of 21.71, a PEG 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 posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS 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 for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the company posted $4.56 earnings per share. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. Analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

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.