SouthState Corp Sells 9,051 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

SouthState Corp lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 26.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 25,354 shares of the home improvement retailer’s stock after selling 9,051 shares during the quarter. SouthState Corp’s holdings in Lowe’s Companies were worth $6,867,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of LOW. Edgestream Partners L.P. grew its stake in shares of Lowe’s Companies by 2.8% in the 1st quarter. Edgestream Partners L.P. now owns 6,236 shares of the home improvement retailer’s stock worth $1,588,000 after buying an additional 172 shares in the last quarter. Lake Street Advisors Group LLC grew its position in Lowe’s Companies by 133.8% in the first quarter. Lake Street Advisors Group LLC now owns 9,165 shares of the home improvement retailer’s stock worth $2,335,000 after acquiring an additional 5,245 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new stake in Lowe’s Companies during the first quarter worth approximately $11,208,000. InterOcean Capital Group LLC raised its position in Lowe’s Companies by 5.8% during the first quarter. InterOcean Capital Group LLC now owns 3,580 shares of the home improvement retailer’s stock valued at $912,000 after purchasing an additional 196 shares during the period. Finally, Ossiam lifted its stake in shares of Lowe’s Companies by 93.6% in the 1st quarter. Ossiam now owns 461,688 shares of the home improvement retailer’s stock valued at $117,606,000 after purchasing an additional 223,199 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on LOW shares. JPMorgan Chase & Co. cut their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research 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 company an “overweight” rating in a research note on Wednesday, August 21st. Telsey Advisory Group raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $275.00 to $305.00 in a research note on Friday, November 8th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Wells Fargo & Company boosted their target price on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Stock Up 0.9 %

Shares of Lowe’s Companies stock opened at $271.87 on Tuesday. Lowe’s Companies, Inc. has a 52-week low of $196.23 and a 52-week high of $287.01. The firm’s 50 day moving average price is $267.74 and its 200-day moving average price is $244.04. The company has a market cap of $154.23 billion, a P/E ratio of 22.54, a PEG ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued 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 business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period in the prior year, the firm posted $4.56 earnings per share. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, February 5th. Shareholders of record on Wednesday, January 22nd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’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 sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 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 represents a 41.91 % 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 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.