Brendel Financial Advisors LLC Lowers Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Brendel Financial Advisors LLC decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 24.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,139 shares of the home improvement retailer’s stock after selling 376 shares during the period. Brendel Financial Advisors LLC’s holdings in Lowe’s Companies were worth $308,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of LOW. Vanguard Group Inc. lifted its position 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 valued at $13,677,378,000 after acquiring an additional 2,674,372 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in Lowe’s Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after acquiring an additional 1,199,100 shares during the last quarter. M&G Plc purchased a new stake in Lowe’s Companies during the first quarter valued at approximately $217,995,000. Pathstone Holdings LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at approximately $126,615,000. Finally, Price T Rowe Associates Inc. MD lifted its position in Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on LOW shares. Melius Research started coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Bank of America cut their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. Truist Financial increased their price objective on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $265.63.

Lowe’s Companies Price Performance

LOW traded down $2.24 on Thursday, reaching $274.94. 705,795 shares of the company’s stock were exchanged, compared to its average volume of 2,465,646. The stock has a market cap of $156.67 billion, a PE ratio of 22.26, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $278.10. The stock’s fifty day moving average price is $251.46 and its 200-day moving average price is $237.39.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates 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 was down 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.56 EPS. As a group, research analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.67%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is 36.95%.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents 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 business’s stock in a transaction that occurred 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 owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, 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. Insiders own 0.26% of the company’s stock.

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.