Hennion & Walsh Asset Management Inc. Sells 2,550 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Hennion & Walsh Asset Management Inc. lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 37.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,172 shares of the home improvement retailer’s stock after selling 2,550 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Lowe’s Companies were worth $1,120,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Register Financial Advisors LLC purchased a new position in shares of Lowe’s Companies in the first quarter worth approximately $62,000. Foguth Wealth Management LLC. bought a new stake in shares of Lowe’s Companies during the 1st quarter valued at $236,000. Roberts Wealth Advisors LLC purchased a new stake in shares of Lowe’s Companies in the 1st quarter worth $540,000. LVW Advisors LLC increased its stake in shares of Lowe’s Companies by 7.2% in the 1st quarter. LVW Advisors LLC now owns 3,767 shares of the home improvement retailer’s stock worth $960,000 after purchasing an additional 253 shares in the last quarter. Finally, Successful Portfolios LLC bought a new position in Lowe’s Companies in the 1st quarter worth $214,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 1.4 %

LOW opened at $267.64 on Friday. The stock has a 50-day moving average of $260.81 and a 200 day moving average of $239.84. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $287.01. The firm has a market cap of $151.83 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the previous year, the business earned $4.56 EPS. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, research 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 company also recently announced 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. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.72%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is currently 38.14%.

Analyst Ratings Changes

LOW has been the subject of a number of analyst reports. Wells Fargo & Company reduced their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Bank of America raised their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Melius Research started coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target for the company. TD Cowen raised their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research report on Thursday, September 19th. Finally, Evercore ISI lifted their target price on shares of 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. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.60.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the 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 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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the company’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 transaction, the executive vice president now 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 legal filing with the SEC, which is available through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.