Mattern Wealth Management LLC Has $2.95 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Mattern Wealth Management LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 57.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,885 shares of the home improvement retailer’s stock after selling 14,639 shares during the period. Mattern Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,948,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Sky Investment Group LLC bought a new position in shares of Lowe’s Companies in the 3rd quarter valued at $217,000. Oakworth Capital Inc. lifted its holdings in Lowe’s Companies by 6.8% during the 3rd quarter. Oakworth Capital Inc. now owns 6,346 shares of the home improvement retailer’s stock worth $1,719,000 after buying an additional 406 shares during the period. Maple Capital Management Inc. acquired a new position in Lowe’s Companies during the 3rd quarter worth about $211,000. Foundations Investment Advisors LLC lifted its holdings in Lowe’s Companies by 307.0% during the 3rd quarter. Foundations Investment Advisors LLC now owns 26,482 shares of the home improvement retailer’s stock worth $7,173,000 after buying an additional 19,976 shares during the period. Finally, Community Financial Services Group LLC lifted its holdings in Lowe’s Companies by 2.4% during the 3rd quarter. Community Financial Services Group LLC now owns 18,075 shares of the home improvement retailer’s stock worth $4,896,000 after buying an additional 419 shares during the period. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Royal Bank of Canada cut their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Truist Financial upped their target price on Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a research report on Monday, October 14th. Sanford C. Bernstein began coverage on Lowe’s Companies in a report on Tuesday. They issued an “outperform” rating and a $323.00 price target on the stock. Finally, Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $270.60.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW traded down $5.82 on Tuesday, hitting $271.02. 1,218,929 shares of the company’s stock were exchanged, compared to its average volume of 2,444,463. The firm’s 50-day moving average is $258.29 and its 200 day moving average is $239.03. The company has a market capitalization of $154.44 billion, a PE ratio of 22.24, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results 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 business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $4.56 EPS. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.70%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Insider Activity

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 value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 transaction 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. This 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 can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.