Beese Fulmer Investment Management Inc. Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Beese Fulmer Investment Management Inc. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 40,377 shares of the home improvement retailer’s stock after selling 323 shares during the quarter. Beese Fulmer Investment Management Inc.’s holdings in Lowe’s Companies were worth $10,936,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in shares of Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of Lowe’s Companies by 1.6% during the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. International Assets Investment Management LLC increased its holdings in shares of Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after acquiring an additional 2,027,668 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Lowe’s Companies by 6.0% during the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after acquiring an additional 90,945 shares in the last quarter. 74.06% of the stock is owned by hedge funds and other institutional investors.

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 dated 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 directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated 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 directly 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The shares were 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 owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

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

Lowe’s Companies Trading Down 0.4 %

NYSE:LOW opened at $270.11 on Thursday. The company’s 50-day moving average price is $259.66 and its 200-day moving average price is $239.47. The company has a market cap of $153.92 billion, a P/E ratio of 21.70, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month 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, 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 for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the previous year, the firm earned $4.56 earnings per share. Lowe’s Companies’s quarterly revenue was down 5.5% compared to the same quarter last year. On average, analysts expect that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

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