PSI Advisors LLC Decreases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

PSI Advisors LLC decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the third quarter, Holdings Channel.com reports. The firm owned 2,801 shares of the home improvement retailer’s stock after selling 99 shares during the period. PSI Advisors LLC’s holdings in Lowe’s Companies were worth $758,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its stake in Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares during the period. International Assets Investment Management LLC raised its stake in shares of Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after acquiring an additional 2,027,668 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after acquiring an additional 90,945 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.1 %

Shares of Lowe’s Companies stock opened at $270.49 on Thursday. The firm has a market capitalization of $154.13 billion, a P/E ratio of 21.70, a PEG ratio of 2.28 and a beta of 1.10. The company has a 50 day moving average price of $259.66 and a 200 day moving average price of $239.47. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $287.01.

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. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period last year, the firm posted $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. 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 1.70%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Analyst Ratings Changes

LOW has been the topic of a number of research analyst reports. Royal Bank of Canada cut their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a report on Wednesday, August 21st. Oppenheimer upgraded 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 report on Tuesday, September 24th. Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target on the stock. Evercore ISI upped their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a report on Wednesday, August 21st. Finally, Wells Fargo & Company cut their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $270.60.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s 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 transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction 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 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 transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, 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 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.