Lowe’s Companies, Inc. (NYSE:LOW) Position Trimmed by Benjamin Edwards Inc.

Benjamin Edwards Inc. trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 20.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,276 shares of the home improvement retailer’s stock after selling 577 shares during the quarter. Benjamin Edwards Inc.’s holdings in Lowe’s Companies were worth $502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also made changes to their positions in the company. Tidemark LLC purchased a new stake in Lowe’s Companies in the 4th quarter worth approximately $27,000. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies during the fourth quarter worth $28,000. Keener Financial Planning LLC acquired a new stake in Lowe’s Companies during the first quarter valued at $35,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies in the fourth quarter valued at about $31,000. Finally, Stephens Consulting LLC increased its position in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Down 0.3 %

LOW stock opened at $260.17 on Friday. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49. The company has a market cap of $148.25 billion, a PE ratio of 20.90, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. The business’s 50-day simple moving average is $243.58 and its 200 day simple moving average is $235.40.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted $4.56 earnings per share. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed 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. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. 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 1.77%. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Royal Bank of Canada reduced their target price on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Morgan Stanley increased their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Piper Sandler reduced their price objective on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group restated a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a report on Tuesday, August 20th. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $253.33.

Insider Transactions at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is owned by insiders.

About Lowe’s Companies

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.