Lowe’s Companies, Inc. (NYSE:LOW) Stock Position Reduced by Patten Group Inc.

Patten Group Inc. cut its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 6.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,092 shares of the home improvement retailer’s stock after selling 570 shares during the quarter. Patten Group Inc.’s holdings in Lowe’s Companies were worth $2,192,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies in the fourth quarter valued at 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 shares of Lowe’s Companies in the fourth quarter worth $31,000. Stephens Consulting LLC boosted its holdings in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares during the period. Finally, Kimelman & Baird LLC bought a new stake in shares of Lowe’s Companies during the 2nd quarter worth $37,000. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated 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 owns 13,214 shares in the company, 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 document filed with the SEC, which can be accessed through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. 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 at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction 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 of the company’s stock, 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. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently commented on LOW shares. Morgan Stanley lifted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Royal Bank of Canada reduced their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Bank of America dropped their target price on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research report on Wednesday, August 21st. Finally, JPMorgan Chase & Co. reduced their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $265.63.

Lowe’s Companies Price Performance

LOW stock opened at $277.12 on Thursday. The company has a 50 day moving average price of $250.83 and a 200 day moving average price of $237.11. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $278.10. The stock has a market capitalization of $157.91 billion, a PE ratio of 22.26, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its 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. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.56 earnings per share. As a group, equities 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Wednesday, October 23rd. 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%.

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.