Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Founders Capital Management

Founders Capital Management trimmed its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 10,864 shares of the home improvement retailer’s stock after selling 92 shares during the quarter. Lowe’s Companies comprises 1.8% of Founders Capital Management’s investment portfolio, making the stock its 19th biggest holding. Founders Capital Management’s holdings in Lowe’s Companies were worth $2,942,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies during the 4th quarter worth approximately $28,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies in the 4th quarter valued at approximately $31,000. Stephens Consulting LLC increased its stake 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 valued at $32,000 after purchasing an additional 70 shares in the last quarter. Keener Financial Planning LLC purchased a new position in Lowe’s Companies in the 1st quarter valued at approximately $35,000. Finally, Kimelman & Baird LLC purchased a new position in Lowe’s Companies in the 2nd quarter valued at approximately $37,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of NYSE LOW traded up $0.78 during midday trading on Monday, reaching $268.54. 2,252,789 shares of the company’s stock were exchanged, compared to its average volume of 2,477,372. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $274.16. The stock has a market capitalization of $153.02 billion, a PE ratio of 21.58, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The business’s fifty day moving average price is $249.61 and its two-hundred day moving average price is $236.95.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (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%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company earned $4.56 earnings per share. Analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.71%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 36.95%.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. 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 owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently weighed in on LOW shares. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Loop Capital raised their price objective on Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday, October 2nd. TD Cowen raised their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a report on Thursday, September 19th. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, Truist Financial raised 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. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $263.54.

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.