Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Somerset Trust Co

Somerset Trust Co lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,009 shares of the home improvement retailer’s stock after selling 232 shares during the period. Lowe’s Companies makes up about 2.9% of Somerset Trust Co’s holdings, making the stock its 3rd biggest position. Somerset Trust Co’s holdings in Lowe’s Companies were worth $7,857,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies during the fourth quarter worth approximately $28,000. Keener Financial Planning LLC acquired a new stake in Lowe’s Companies in the first quarter valued at approximately $35,000. Transcendent Capital Group LLC acquired a new stake in Lowe’s Companies in the fourth quarter valued at approximately $31,000. Stephens Consulting LLC grew its stake in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the period. Finally, Kimelman & Baird LLC acquired a new stake in Lowe’s Companies in the second quarter valued at approximately $37,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 1.4 %

Shares of Lowe’s Companies stock opened at $277.12 on Thursday. The business’s fifty day simple moving average is $250.83 and its 200 day simple moving average is $237.11. The firm has a market capitalization of $157.91 billion, a P/E ratio of 22.26, a price-to-earnings-growth 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 $278.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. Lowe’s Companies’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period last year, the company posted $4.56 earnings per share. 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 announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. 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 yield of 1.66%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade 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 this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was 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 directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade 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 this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, 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 disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on LOW. UBS Group raised their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Gordon Haskett reduced their price objective on 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. Telsey Advisory Group raised their price objective on 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. JPMorgan Chase & Co. reduced their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Finally, Evercore ISI raised their price objective on 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. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $265.63.

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.