Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Ignite Planners LLC

Ignite Planners LLC cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 17.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,553 shares of the home improvement retailer’s stock after selling 336 shares during the period. Ignite Planners LLC’s holdings in Lowe’s Companies were worth $421,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of LOW. 1832 Asset Management L.P. boosted its stake in Lowe’s Companies by 107.9% during the 4th quarter. 1832 Asset Management L.P. now owns 447 shares of the home improvement retailer’s stock valued at $99,000 after purchasing an additional 232 shares during the period. MGO One Seven LLC boosted its stake in Lowe’s Companies by 42.2% during the 4th quarter. MGO One Seven LLC now owns 17,428 shares of the home improvement retailer’s stock valued at $3,879,000 after purchasing an additional 5,172 shares during the period. Rench Wealth Management Inc. acquired a new position in Lowe’s Companies during the 4th quarter valued at about $466,000. Vista Investment Management boosted its stake in Lowe’s Companies by 2.4% during the 4th quarter. Vista Investment Management now owns 11,586 shares of the home improvement retailer’s stock valued at $2,579,000 after purchasing an additional 271 shares during the period. Finally, Ethic Inc. boosted its stake in Lowe’s Companies by 1.1% during the 4th quarter. Ethic Inc. now owns 34,827 shares of the home improvement retailer’s stock valued at $7,751,000 after purchasing an additional 390 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

LOW stock opened at $273.27 on Wednesday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $274.26. The company’s 50 day simple moving average is $250.19 and its 200-day simple moving average is $237.01. The firm has a market capitalization of $155.72 billion, a P/E ratio of 21.95, a P/E/G ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $23.93 billion. During the same quarter in the previous year, the business earned $4.56 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.68%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on LOW shares. Telsey Advisory Group boosted their target price on shares of Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Evercore ISI boosted their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. TD Cowen upped their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. Piper Sandler upped their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Finally, Gordon Haskett reduced their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $263.54.

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 that occurred 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 owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lowe’s Companies news, 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 value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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. This represents a 0.00 % 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.