Cullinan Associates Inc. Sells 4,132 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Cullinan Associates Inc. lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 96,791 shares of the home improvement retailer’s stock after selling 4,132 shares during the period. Lowe’s Companies comprises about 1.5% of Cullinan Associates Inc.’s holdings, making the stock its 14th biggest position. Cullinan Associates Inc.’s holdings in Lowe’s Companies were worth $26,720,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Stephens Consulting LLC increased its holdings in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. Keener Financial Planning LLC bought a new position in Lowe’s Companies during the first quarter worth about $35,000. MFA Wealth Advisors LLC increased its stake in shares of Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Lowe’s Companies in the second quarter worth about $37,000. Finally, Tsfg LLC raised its position in shares of Lowe’s Companies by 128.2% in the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction 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 owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research analysts recently weighed in on the stock. Melius Research initiated coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective for the company. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Finally, StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $270.60.

Lowe’s Companies Trading Down 0.4 %

NYSE LOW traded down $0.96 during trading on Friday, hitting $270.40. The company had a trading volume of 119,232 shares, compared to its average volume of 2,438,755. The company’s fifty day moving average is $259.66 and its 200-day moving average is $239.47. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $287.01. The company has a market cap of $154.08 billion, a price-to-earnings ratio of 21.80, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released 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. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm earned $4.56 earnings per share. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

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