Daymark Wealth Partners LLC Sells 475 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Daymark Wealth Partners LLC reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% in the third quarter, HoldingsChannel.com reports. The fund owned 25,094 shares of the home improvement retailer’s stock after selling 475 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Lowe’s Companies were worth $6,797,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Vanguard Group Inc. lifted its stake in Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Lowe’s Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after buying an additional 82,978 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after buying an additional 493,180 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after buying an additional 90,945 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its stake in Lowe’s Companies by 11.1% in the second quarter. The Manufacturers Life Insurance Company now owns 1,499,015 shares of the home improvement retailer’s stock worth $330,473,000 after buying an additional 149,649 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lowe’s Companies news, 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 completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated 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 directly owns 13,214 shares of the company’s stock, valued at approximately $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 SEC, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on LOW shares. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $250.00 to $300.00 in a report on Wednesday. Evercore ISI boosted 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. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler raised their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Finally, Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $265.63.

Lowe’s Companies Trading Up 0.2 %

LOW traded up $0.53 during trading on Wednesday, hitting $273.80. 723,971 shares of the company’s stock traded hands, compared to its average volume of 2,465,601. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $278.10. The company’s 50 day simple moving average is $250.83 and its two-hundred day simple moving average is $237.11. The stock has a market capitalization of $156.02 billion, a price-to-earnings ratio of 21.95, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the company earned $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, equities analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The business 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 dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.68%. Lowe’s Companies’s dividend payout ratio is 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.