Lowe’s Companies, Inc. (NYSE:LOW) Stock Position Trimmed by Verdence Capital Advisors LLC

Verdence Capital Advisors LLC lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 17.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,407 shares of the home improvement retailer’s stock after selling 1,382 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Lowe’s Companies were worth $1,735,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Markel Group Inc. boosted its position in Lowe’s Companies by 2.1% during the 3rd quarter. Markel Group Inc. now owns 690,480 shares of the home improvement retailer’s stock worth $187,017,000 after acquiring an additional 14,500 shares during the period. Corrado Advisors LLC acquired a new stake in Lowe’s Companies in the third quarter worth about $236,000. United Bank lifted its holdings in Lowe’s Companies by 1.4% in the third quarter. United Bank now owns 10,099 shares of the home improvement retailer’s stock worth $2,735,000 after purchasing an additional 137 shares during the period. Applied Finance Capital Management LLC increased its stake in Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after buying an additional 645,017 shares during the period. Finally, Holistic Planning LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter worth about $271,000. Institutional investors own 74.06% of the company’s stock.

Insider Transactions at Lowe’s Companies

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

Lowe’s Companies Trading Up 1.8 %

Shares of NYSE LOW opened at $271.10 on Friday. Lowe’s Companies, Inc. has a one year low of $189.05 and a one year high of $287.01. The business has a 50-day moving average price of $264.61 and a two-hundred day moving average price of $242.11. The firm has a market capitalization of $153.79 billion, a PE ratio of 22.48, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (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 during the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the firm earned $4.56 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. Research analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 38.14%.

Analysts Set New Price Targets

Several research firms have recently issued reports on LOW. JPMorgan Chase & Co. decreased their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Melius Research started coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective on the stock. Morgan Stanley raised their target price on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $275.00 to $305.00 in a research report on Friday. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $273.44.

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.