CX Institutional Sells 17,576 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

CX Institutional trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 47.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,543 shares of the home improvement retailer’s stock after selling 17,576 shares during the period. CX Institutional’s holdings in Lowe’s Companies were worth $5,293,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of the company. Grove Bank & Trust boosted its holdings in Lowe’s Companies by 5.1% in the 3rd quarter. Grove Bank & Trust now owns 2,684 shares of the home improvement retailer’s stock valued at $727,000 after purchasing an additional 130 shares during the period. Novare Capital Management LLC lifted its holdings in shares of Lowe’s Companies by 0.5% during the 3rd quarter. Novare Capital Management LLC now owns 46,361 shares of the home improvement retailer’s stock worth $12,557,000 after acquiring an additional 215 shares during the last quarter. Adamsbrown Wealth Consultants LLC lifted its holdings in shares of Lowe’s Companies by 17.5% during the 3rd quarter. Adamsbrown Wealth Consultants LLC now owns 2,211 shares of the home improvement retailer’s stock worth $599,000 after acquiring an additional 330 shares during the last quarter. Stablepoint Partners LLC lifted its holdings in shares of Lowe’s Companies by 1.2% during the 3rd quarter. Stablepoint Partners LLC now owns 9,317 shares of the home improvement retailer’s stock worth $2,524,000 after acquiring an additional 111 shares during the last quarter. Finally, ORG Wealth Partners LLC bought a new stake in shares of Lowe’s Companies during the 3rd quarter worth $344,000. 74.06% of the stock is owned by institutional investors.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 trade 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. In other Lowe’s Companies news, 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 value of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This 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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Gordon Haskett decreased their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Piper Sandler boosted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Melius Research initiated 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 objective on the stock. Finally, Morgan Stanley boosted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $268.42.

Lowe’s Companies Trading Up 1.9 %

Shares of LOW stock opened at $280.97 on Tuesday. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $281.40. The firm’s 50 day moving average is $253.68 and its 200 day moving average is $237.77. The stock has a market capitalization of $160.11 billion, a P/E ratio of 22.57, a P/E/G ratio of 2.28 and a beta of 1.10.

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

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend 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 currently 36.95%.

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.