Cypress Capital Group Cuts Position in Lowe’s Companies, Inc. (NYSE:LOW)

Cypress Capital Group reduced its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.2% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 24,089 shares of the home improvement retailer’s stock after selling 786 shares during the period. Cypress Capital Group’s holdings in Lowe’s Companies were worth $6,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its position in Lowe’s Companies by 1.0% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 241,546 shares of the home improvement retailer’s stock worth $65,422,000 after buying an additional 2,324 shares during the period. Cornerstone Advisors LLC grew its holdings in shares of Lowe’s Companies by 1.1% in the 3rd quarter. Cornerstone Advisors LLC now owns 27,300 shares of the home improvement retailer’s stock worth $7,394,000 after acquiring an additional 300 shares during the period. Citizens Financial Group Inc. RI increased its stake in Lowe’s Companies by 6.2% in the 3rd quarter. Citizens Financial Group Inc. RI now owns 20,757 shares of the home improvement retailer’s stock valued at $5,622,000 after purchasing an additional 1,219 shares in the last quarter. EagleClaw Capital Managment LLC raised its holdings in Lowe’s Companies by 3.9% during the third quarter. EagleClaw Capital Managment LLC now owns 34,172 shares of the home improvement retailer’s stock worth $9,255,000 after purchasing an additional 1,295 shares during the last quarter. Finally, Darwin Wealth Management LLC acquired a new position in Lowe’s Companies during the third quarter worth $661,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 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. The trade was a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction 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. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. Wedbush restated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Morgan Stanley raised their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and upped their price target for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research report on Tuesday. Finally, DA Davidson lifted their price objective on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and sixteen have issued 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 $277.92.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $263.03 on Thursday. Lowe’s Companies, Inc. has a 1 year low of $196.23 and a 1 year high of $287.01. The firm has a 50 day moving average price of $268.29 and a 200 day moving average price of $244.36. The company has a market cap of $149.21 billion, a price-to-earnings ratio of 21.94, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.56 EPS. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.82 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. The ex-dividend date was 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 yield of 1.75%. Lowe’s Companies’s dividend payout ratio is currently 38.37%.

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.