Joel Isaacson & Co. LLC Reduces Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Joel Isaacson & Co. LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.2% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,007 shares of the home improvement retailer’s stock after selling 55 shares during the period. Joel Isaacson & Co. LLC’s holdings in Lowe’s Companies were worth $273,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of LOW. Stephens Consulting LLC increased its position in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Keener Financial Planning LLC purchased a new stake in shares of Lowe’s Companies in the 1st quarter valued at approximately $35,000. MFA Wealth Advisors LLC increased its holdings in shares of Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares during the last quarter. Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies during the 2nd quarter valued at approximately $37,000. Finally, Tsfg LLC lifted its holdings in Lowe’s Companies by 128.2% in the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 100 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 1.4 %

Lowe’s Companies stock opened at $267.64 on Friday. The company has a fifty day simple moving average of $260.81 and a 200-day simple moving average of $239.84. The stock has a market cap of $151.83 billion, a P/E ratio of 22.19, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (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 business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the prior year, the firm posted $4.56 EPS. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.72%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The shares were 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 $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, 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 disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on LOW shares. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Melius Research started coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective on the stock. Telsey Advisory Group increased their target price on shares of Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research note on Wednesday, October 2nd. Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Finally, Piper Sandler increased their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and a consensus target price of $270.60.

Lowe’s Companies Company 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.