Tompkins Financial Corp Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Tompkins Financial Corp cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 20.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,122 shares of the home improvement retailer’s stock after selling 1,070 shares during the quarter. Tompkins Financial Corp’s holdings in Lowe’s Companies were worth $1,116,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of LOW. JNBA Financial Advisors boosted its position in shares of Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares during the last quarter. MFA Wealth Advisors LLC raised its holdings in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares in the last quarter. Stephens Consulting LLC boosted its holdings in Lowe’s Companies by 93.3% in the second 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. Kimelman & Baird LLC purchased a new stake in shares of Lowe’s Companies in the 2nd quarter valued at about $37,000. Finally, Tsfg LLC raised its holdings in shares of Lowe’s Companies by 128.2% in the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on LOW shares. Bank of America lifted their price target on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Melius Research began coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Wells Fargo & Company lifted their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research note on Wednesday. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Finally, Evercore ISI increased their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $273.44.

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 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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 completion of the sale, the chief accounting officer now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the 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 transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded up $4.80 during trading hours on Friday, hitting $271.10. The company had a trading volume of 2,102,467 shares, compared to its average volume of 2,186,897. The firm’s fifty day moving average is $264.61 and its 200-day moving average is $242.11. The firm has a market capitalization of $153.79 billion, a P/E ratio of 22.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a fifty-two week low of $189.05 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the company posted $4.56 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. Analysts anticipate that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a $1.15 dividend. This represents a $4.60 annualized dividend and a yield of 1.70%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 38.14%.

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.