Washington Trust Advisors Inc. Reduces Position in Lowe’s Companies, Inc. (NYSE:LOW)

Washington Trust Advisors Inc. decreased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,899 shares of the home improvement retailer’s stock after selling 49 shares during the period. Washington Trust Advisors Inc.’s holdings in Lowe’s Companies were worth $2,139,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of LOW. Tectonic Advisors LLC boosted its holdings in Lowe’s Companies by 18.5% in the first quarter. Tectonic Advisors LLC now owns 4,793 shares of the home improvement retailer’s stock valued at $1,221,000 after purchasing an additional 749 shares during the last quarter. TCI Wealth Advisors Inc. increased its holdings in shares of Lowe’s Companies by 6.7% during the 1st quarter. TCI Wealth Advisors Inc. now owns 1,696 shares of the home improvement retailer’s stock worth $432,000 after buying an additional 107 shares during the last quarter. Montag A & Associates Inc. increased its holdings in Lowe’s Companies by 97.7% in the 1st quarter. Montag A & Associates Inc. now owns 20,009 shares of the home improvement retailer’s stock valued at $5,097,000 after purchasing an additional 9,887 shares during the last quarter. Angeles Wealth Management LLC increased its holdings in Lowe’s Companies by 36.9% in the 1st quarter. Angeles Wealth Management LLC now owns 1,585 shares of the home improvement retailer’s stock valued at $404,000 after purchasing an additional 427 shares during the last quarter. Finally, Reynders McVeigh Capital Management LLC grew its stake in shares of Lowe’s Companies by 6.8% in the first quarter. Reynders McVeigh Capital Management LLC now owns 1,417 shares of the home improvement retailer’s stock worth $361,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW stock opened at $271.10 on Friday. Lowe’s Companies, Inc. has a 52-week low of $189.05 and a 52-week high of $287.01. The stock has a market cap of $153.79 billion, a price-to-earnings ratio of 22.48, a P/E/G ratio of 2.15 and a beta of 1.10. The firm has a fifty day moving average of $264.61 and a 200-day moving average of $242.11.

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 (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the firm posted $4.56 EPS. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.70%. Lowe’s Companies’s payout ratio is currently 38.14%.

Wall Street Analyst Weigh In

LOW has been the subject of a number of research reports. Wells Fargo & Company boosted their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday. Piper Sandler upped their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. JPMorgan Chase & Co. cut their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Finally, Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $273.44.

Insiders Place Their Bets

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