Legacy Capital Group California Inc. Trims Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Legacy Capital Group California Inc. reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.0% in the third quarter, Holdings Channel reports. The firm owned 1,235 shares of the home improvement retailer’s stock after selling 51 shares during the period. Legacy Capital Group California Inc.’s holdings in Lowe’s Companies were worth $334,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Dakota Wealth Management raised its stake in shares of Lowe’s Companies by 3.0% during the third quarter. Dakota Wealth Management now owns 11,565 shares of the home improvement retailer’s stock valued at $3,132,000 after acquiring an additional 335 shares in the last quarter. Values First Advisors Inc. raised its holdings in shares of Lowe’s Companies by 9.8% in the third quarter. Values First Advisors Inc. now owns 3,069 shares of the home improvement retailer’s stock valued at $831,000 after acquiring an additional 275 shares in the last quarter. DT Investment Partners LLC lifted its stake in Lowe’s Companies by 1.8% in the third quarter. DT Investment Partners LLC now owns 3,337 shares of the home improvement retailer’s stock worth $904,000 after acquiring an additional 59 shares during the period. Mason & Associates Inc bought a new position in Lowe’s Companies during the 3rd quarter worth about $256,000. Finally, DORCHESTER WEALTH MANAGEMENT Co increased its position in Lowe’s Companies by 176.8% during the 3rd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 4,305 shares of the home improvement retailer’s stock valued at $1,166,000 after purchasing an additional 2,750 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $267.64 on Friday. The business’s 50-day simple moving average is $260.28 and its two-hundred day simple moving average is $239.69. The company has a market cap of $151.83 billion, a PE ratio of 22.19, a PEG ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating 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 for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the firm earned $4.56 earnings per share. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

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

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction dated 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Lowe’s Companies news, 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 value of $1,684,262.58. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents 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 insiders.

Analysts Set New Price Targets

Several brokerages have recently weighed in on LOW. JPMorgan Chase & Co. lowered their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Morgan Stanley increased their target price on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Telsey Advisory Group boosted their price target on Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Finally, Sanford C. Bernstein began coverage on Lowe’s Companies in a research note on Tuesday. They issued an “outperform” rating and a $323.00 target price on the stock. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.60.

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.