Pitcairn Co. Sells 2,272 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Pitcairn Co. lowered its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 9.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 22,478 shares of the home improvement retailer’s stock after selling 2,272 shares during the period. Pitcairn Co.’s holdings in Lowe’s Companies were worth $6,088,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. JNBA Financial Advisors increased its holdings in Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares during the period. MFA Wealth Advisors LLC increased its holdings in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares during the period. Stephens Consulting LLC increased its holdings in Lowe’s Companies by 93.3% during 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 period. Kimelman & Baird LLC bought a new stake in Lowe’s Companies during the 2nd quarter worth approximately $37,000. Finally, Tsfg LLC increased its holdings in Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.2 %

Shares of LOW opened at $264.63 on Friday. The stock has a market capitalization of $150.12 billion, a P/E ratio of 22.07, a PEG ratio of 2.22 and a beta of 1.10. The firm has a fifty day simple moving average of $268.74 and a two-hundred day simple moving average of $244.73. Lowe’s Companies, Inc. has a twelve month low of $196.23 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The business 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 firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.56 EPS. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.88 EPS for the current fiscal 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 given a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.74%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s 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 completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Truist Financial increased their price target on shares of Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Morgan Stanley increased their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. UBS Group increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Piper Sandler increased their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies 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.