Lowe’s Companies, Inc. (NYSE:LOW) Position Lessened by Kesler Norman & Wride LLC

Kesler Norman & Wride LLC trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 6.5% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 34,771 shares of the home improvement retailer’s stock after selling 2,406 shares during the period. Lowe’s Companies accounts for about 1.8% of Kesler Norman & Wride LLC’s investment portfolio, making the stock its 7th biggest holding. Kesler Norman & Wride LLC’s holdings in Lowe’s Companies were worth $9,418,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Voisard Asset Management Group Inc. bought a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $28,000. Keener Financial Planning LLC bought a new position in shares of Lowe’s Companies during the first quarter valued at approximately $35,000. Transcendent Capital Group LLC bought a new position in shares of Lowe’s Companies during the fourth quarter valued at approximately $31,000. Stephens Consulting LLC grew its holdings in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the last quarter. Finally, Kimelman & Baird LLC bought a new position in Lowe’s Companies in the 2nd quarter worth approximately $37,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Up 0.3 %

LOW opened at $268.54 on Tuesday. The stock has a fifty day moving average of $249.61 and a 200-day moving average of $236.95. The firm has a market capitalization of $153.02 billion, a P/E ratio of 21.57, a PEG ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $274.16.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the business posted $4.56 earnings per share. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is 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 1.71%. Lowe’s Companies’s dividend payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on LOW. Truist Financial increased their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Gordon Haskett decreased their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. cut their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Finally, TD Cowen upped their target price on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research report on Thursday, September 19th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $263.54.

Insider Transactions at Lowe’s Companies

In other 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 transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction 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 transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % 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 company insiders.

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.