Transform Wealth LLC Sells 579 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Transform Wealth LLC lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,269 shares of the home improvement retailer’s stock after selling 579 shares during the quarter. Transform Wealth LLC’s holdings in Lowe’s Companies were worth $3,865,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in LOW. Bamco Inc. NY boosted its position in shares of Lowe’s Companies by 10.3% during the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares during the period. Plato Investment Management Ltd boosted its position in shares of Lowe’s Companies by 655.9% during the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after buying an additional 5,470 shares during the period. 17 Capital Partners LLC acquired a new position in shares of Lowe’s Companies during the first quarter worth about $1,368,000. Lincoln National Corp boosted its position in shares of Lowe’s Companies by 1.5% during the first quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer’s stock worth $2,835,000 after buying an additional 169 shares during the period. Finally, Daymark Wealth Partners LLC boosted its position in shares of Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after buying an additional 2,889 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

Shares of NYSE:LOW traded down $0.20 during midday trading on Wednesday, hitting $281.63. 447,444 shares of the stock were exchanged, compared to its average volume of 2,450,778. The business’s 50-day moving average price is $254.51 and its 200 day moving average price is $237.96. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $287.01. The stock has a market capitalization of $160.48 billion, a price-to-earnings ratio of 22.64, a P/E/G ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly 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 firm 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%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business earned $4.56 EPS. As a group, sell-side analysts expect that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given 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 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Insider Activity

In other 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 transaction 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 position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Lowe’s Companies news, 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 transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares in the company, 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 document filed with the SEC, which is available through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

LOW has been the topic of several analyst reports. 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. Bank of America upped their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Gordon Haskett dropped their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. UBS Group upped 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. Finally, Truist Financial upped their price objective on Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a research note on Monday. Eleven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $268.42.

Lowe’s Companies 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.