CNB Bank Has $910,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

CNB Bank decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 26.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,359 shares of the home improvement retailer’s stock after selling 1,195 shares during the period. CNB Bank’s holdings in Lowe’s Companies were worth $910,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Stephens Consulting LLC raised its holdings in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Keener Financial Planning LLC bought a new position in Lowe’s Companies during the first quarter worth $35,000. Kimelman & Baird LLC acquired a new position in Lowe’s Companies in the second quarter valued at $37,000. Tsfg LLC boosted its position in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 100 shares during the last quarter. Finally, Lynx Investment Advisory bought a new stake in Lowe’s Companies during the second quarter valued at $49,000. 74.06% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on Wednesday, October 2nd. The stock was 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 0.1 %

Shares of Lowe’s Companies stock opened at $281.64 on Friday. The company has a market capitalization of $160.49 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The stock has a fifty day simple moving average of $257.37 and a 200 day simple moving average of $238.77. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data 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 the consensus estimate 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 revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.56 EPS. On average, analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.63%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on LOW. Morgan Stanley boosted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. Melius Research initiated coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target on the stock. Gordon Haskett cut their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company cut their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.