Park Place Capital Corp Trims Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Park Place Capital Corp lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,202 shares of the home improvement retailer’s stock after selling 37 shares during the quarter. Park Place Capital Corp’s holdings in Lowe’s Companies were worth $596,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in LOW. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies in the 4th quarter worth about $28,000. Transcendent Capital Group LLC purchased a new position in Lowe’s Companies in the 4th quarter worth about $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 worth $32,000 after buying an additional 70 shares during the period. Keener Financial Planning LLC purchased a new position in Lowe’s Companies in the 1st quarter worth about $35,000. Finally, Kimelman & Baird LLC purchased a new position in Lowe’s Companies in the 2nd quarter worth about $37,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

LOW stock traded up $3.89 during trading on Tuesday, reaching $272.43. The company had a trading volume of 596,795 shares, compared to its average volume of 2,467,932. The firm has a 50-day simple moving average of $250.19 and a 200-day simple moving average of $237.01. The company has a market cap of $155.24 billion, a price-to-earnings ratio of 21.85, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $274.16.

Lowe’s Companies (NYSE:LOW) last released its 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 company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the business earned $4.56 EPS. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change 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 1.69%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on LOW. Telsey Advisory Group increased their target price on shares of Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. dropped their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Wedbush reiterated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 21st. Morgan Stanley increased their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Finally, Truist Financial increased their target price on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $263.54.

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 that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’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 transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents 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 currently owned by insiders.

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.