Brighton Jones LLC Reduces Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Brighton Jones LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 25.4% during the third quarter, HoldingsChannel.com reports. The firm owned 14,552 shares of the home improvement retailer’s stock after selling 4,951 shares during the period. Brighton Jones LLC’s holdings in Lowe’s Companies were worth $3,941,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in LOW. International Assets Investment Management LLC lifted its position in shares of Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares during the last quarter. McAdam LLC raised its stake in Lowe’s Companies by 3.6% during the third quarter. McAdam LLC now owns 1,457 shares of the home improvement retailer’s stock valued at $395,000 after buying an additional 51 shares in the last quarter. MFA Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after buying an additional 70 shares during the last quarter. U.S. Capital Wealth Advisors LLC grew its position in shares of Lowe’s Companies by 0.6% in the 3rd quarter. U.S. Capital Wealth Advisors LLC now owns 19,564 shares of the home improvement retailer’s stock worth $5,299,000 after acquiring an additional 119 shares in the last quarter. Finally, Iron Horse Wealth Management LLC increased its holdings in shares of Lowe’s Companies by 40.0% in the 3rd quarter. Iron Horse Wealth Management LLC now owns 315 shares of the home improvement retailer’s stock valued at $85,000 after acquiring an additional 90 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LOW has been the topic of several research analyst reports. Sanford C. Bernstein began coverage on Lowe’s Companies in a research note on Tuesday. They set an “outperform” rating and a $323.00 price objective on the stock. Gordon Haskett reduced their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Bank of America boosted their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Morgan Stanley raised 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, Wells Fargo & Company lowered their target price 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. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $270.60.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade 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 company insiders.

Lowe’s Companies Stock Down 0.4 %

NYSE:LOW opened at $270.11 on Thursday. The business’s 50-day moving average price is $259.66 and its 200 day moving average price is $239.47. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $287.01. The firm has a market cap of $153.92 billion, a P/E ratio of 21.70, a PEG ratio of 2.28 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 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the business earned $4.56 earnings per share. 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 announced 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 represents a $4.60 dividend on an annualized basis and a dividend yield of 1.70%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 36.95%.

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.