Folger Nolan Fleming Douglas Capital Management Inc. Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Folger Nolan Fleming Douglas Capital Management Inc. cut its stake in Lowe’s Companies, Inc. (NYSE:LOWGet Rating) by 0.7% during the second quarter, HoldingsChannel reports. The institutional investor owned 91,067 shares of the home improvement retailer’s stock after selling 622 shares during the quarter. Lowe’s Companies comprises approximately 2.1% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 11th biggest holding. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Lowe’s Companies were worth $15,907,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Joseph P. Lucia & Associates LLC purchased a new position in Lowe’s Companies in the 1st quarter valued at about $27,000. Macroview Investment Management LLC raised its holdings in Lowe’s Companies by 49.1% in the 1st quarter. Macroview Investment Management LLC now owns 158 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 52 shares during the last quarter. Delos Wealth Advisors LLC raised its holdings in Lowe’s Companies by 388.2% in the 4th quarter. Delos Wealth Advisors LLC now owns 166 shares of the home improvement retailer’s stock valued at $43,000 after acquiring an additional 132 shares during the last quarter. O Dell Group LLC acquired a new stake in Lowe’s Companies in the 1st quarter valued at about $34,000. Finally, Compagnie Lombard Odier SCmA raised its holdings in Lowe’s Companies by 100.0% in the 1st quarter. Compagnie Lombard Odier SCmA now owns 180 shares of the home improvement retailer’s stock valued at $36,000 after acquiring an additional 90 shares during the last quarter. 74.04% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded down $1.96 during trading on Friday, hitting $186.16. 111,092 shares of the stock were exchanged, compared to its average volume of 3,715,737. The stock has a market cap of $115.55 billion, a price-to-earnings ratio of 14.82, a price-to-earnings-growth ratio of 1.06 and a beta of 1.22. The firm’s 50-day moving average price is $198.00 and its 200 day moving average price is $197.74. Lowe’s Companies, Inc. has a 12-month low of $170.12 and a 12-month high of $263.31.

Lowe’s Companies (NYSE:LOWGet Rating) last released its quarterly earnings data on Wednesday, August 17th. The home improvement retailer reported $4.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.63 by $0.04. The business had revenue of $27.48 billion during the quarter, compared to analysts’ expectations of $28.16 billion. Lowe’s Companies had a net margin of 8.83% and a negative return on equity of 155.26%. The company’s revenue for the quarter was down .3% on a year-over-year basis. During the same period in the previous year, the company earned $4.25 EPS. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 13.51 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 2nd. Investors of record on Wednesday, October 19th will be paid a dividend of $1.05 per share. The ex-dividend date is Tuesday, October 18th. This represents a $4.20 annualized dividend and a yield of 2.26%. Lowe’s Companies’s dividend payout ratio is currently 33.10%.

Analysts Set New Price Targets

LOW has been the subject of a number of recent research reports. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Thursday, July 28th. Piper Sandler raised their price target on shares of Lowe’s Companies to $248.00 in a report on Monday, August 22nd. Wells Fargo & Company raised their price target on shares of Lowe’s Companies from $220.00 to $245.00 in a report on Wednesday, August 17th. Evercore ISI raised their price target on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock an “outperform” rating in a report on Thursday, August 18th. Finally, UBS Group raised their price target on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock a “buy” rating in a report on Thursday, August 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $244.05.

Insider Buying and Selling

In related news, EVP Seemantini Godbole sold 11,761 shares of Lowe’s Companies stock in a transaction on Friday, August 19th. The shares were sold at an average price of $214.37, for a total transaction of $2,521,205.57. Following the sale, the executive vice president now directly owns 26,575 shares in the company, valued at approximately $5,696,882.75. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.24% of the stock is owned by company insiders.

Lowe’s Companies Company Profile

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Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States and internationally. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It 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, lighting, and electrical.

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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