WT Wealth Management Trims Stake in Lowe’s Companies, Inc. (NYSE:LOW)

WT Wealth Management cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 64.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,404 shares of the home improvement retailer’s stock after selling 6,107 shares during the period. WT Wealth Management’s holdings in Lowe’s Companies were worth $959,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Crew Capital Management Ltd. boosted its stake in shares of Lowe’s Companies by 1.0% during the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after acquiring an additional 37 shares in the last quarter. Clean Yield Group increased its holdings in Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after acquiring an additional 38 shares in the last quarter. Drive Wealth Management LLC increased its holdings in Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 41 shares in the last quarter. Chapin Davis Inc. raised its position in Lowe’s Companies by 1.3% during the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after acquiring an additional 41 shares during the period. Finally, McKinley Carter Wealth Services Inc. lifted its holdings in Lowe’s Companies by 0.3% during the third quarter. McKinley Carter Wealth Services Inc. now owns 12,846 shares of the home improvement retailer’s stock valued at $3,479,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.6 %

NYSE LOW traded down $4.56 during trading hours on Tuesday, hitting $272.28. 1,692,512 shares of the company were exchanged, compared to its average volume of 2,446,720. The company has a 50 day moving average of $258.29 and a two-hundred day moving average of $239.03. The firm has a market cap of $155.15 billion, a price-to-earnings ratio of 22.24, a PEG ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued 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 company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the firm earned $4.56 earnings per share. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current 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 paid a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.69%. The ex-dividend date is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Lowe’s Companies news, 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 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 $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on Thursday, September 12th. The shares were 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 owns 9,383 shares in the company, valued at $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. Corporate insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on the stock. Bank of America upped their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. JPMorgan Chase & Co. reduced their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Wells Fargo & Company lowered their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Finally, Morgan Stanley raised their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $270.60.

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.