Trustmark National Bank Trust Department Sells 699 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Trustmark National Bank Trust Department cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 41.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 982 shares of the home improvement retailer’s stock after selling 699 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Lowe’s Companies were worth $266,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. International Assets Investment Management LLC grew its holdings in Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after acquiring an additional 2,027,668 shares during the last quarter. Strategic Financial Concepts LLC grew its holdings in Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after acquiring an additional 1,199,100 shares during the last quarter. Applied Finance Capital Management LLC grew its holdings in Lowe’s Companies by 387.7% during the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after acquiring an additional 645,017 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after acquiring an additional 493,180 shares during the last quarter. Finally, Marshall Wace LLP grew its holdings in Lowe’s Companies by 170.5% during the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after acquiring an additional 463,645 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Truist Financial boosted their price target on shares of Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday. Mizuho boosted their price target on shares of Lowe’s Companies from $280.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday. Royal Bank of Canada boosted their price target on shares of Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a research report on Wednesday. Barclays boosted their price target on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Finally, Sanford C. Bernstein dropped their price target on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating on the stock in a research report on Wednesday. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $277.92.

Lowe’s Companies Trading Up 0.9 %

LOW opened at $265.50 on Friday. The company’s fifty day moving average price is $268.56 and its two-hundred day moving average price is $244.50. Lowe’s Companies, Inc. has a 1-year low of $196.23 and a 1-year high of $287.01. The company has a market cap of $150.62 billion, a price-to-earnings ratio of 22.14, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted 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 8.19% and a negative return on equity of 47.55%. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the business posted $4.56 EPS. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 11.82 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.73%. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction 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 completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the 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 transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $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.

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.