Financial Advisory Partners LLC Cuts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Financial Advisory Partners LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.9% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 15,142 shares of the home improvement retailer’s stock after selling 294 shares during the quarter. Lowe’s Companies accounts for about 1.4% of Financial Advisory Partners LLC’s holdings, making the stock its 24th biggest holding. Financial Advisory Partners LLC’s holdings in Lowe’s Companies were worth $4,101,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in LOW. Steigerwald Gordon & Koch Inc. lifted its stake in Lowe’s Companies by 9.4% in the third quarter. Steigerwald Gordon & Koch Inc. now owns 1,162 shares of the home improvement retailer’s stock worth $315,000 after purchasing an additional 100 shares during the last quarter. Cypress Wealth Services LLC lifted its stake in shares of Lowe’s Companies by 2.5% in the 3rd quarter. Cypress Wealth Services LLC now owns 2,142 shares of the home improvement retailer’s stock valued at $580,000 after acquiring an additional 53 shares during the last quarter. Hyperion Partners LLC purchased a new stake in Lowe’s Companies during the 3rd quarter valued at about $244,000. Sanders Morris Harris LLC increased its stake in Lowe’s Companies by 6.7% in the 3rd quarter. Sanders Morris Harris LLC now owns 6,267 shares of the home improvement retailer’s stock worth $1,697,000 after purchasing an additional 393 shares during the period. Finally, Bruce G. Allen Investments LLC grew its holdings in shares of Lowe’s Companies by 9.9% in the third quarter. Bruce G. Allen Investments LLC now owns 654 shares of the home improvement retailer’s stock worth $177,000 after purchasing an additional 59 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE LOW traded down $3.52 on Thursday, hitting $273.66. 611,532 shares of the stock were exchanged, compared to its average volume of 2,464,903. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $278.10. The firm has a market capitalization of $155.94 billion, a P/E ratio of 22.26, a P/E/G ratio of 2.15 and a beta of 1.10. The stock has a fifty day moving average price of $251.46 and a two-hundred day moving average price of $237.39.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS 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 the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.56 EPS. Sell-side analysts expect 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 announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change 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 1.68%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Analysts Set New Price Targets

LOW has been the topic of several recent analyst reports. Truist Financial raised their target price on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and upped their target price for the stock from $250.00 to $300.00 in a report on Wednesday. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Finally, TD Cowen boosted their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average target price of $265.63.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction 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 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 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on 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 completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

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.