Valley National Advisers Inc. Reduces Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Valley National Advisers Inc. reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 24.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,793 shares of the home improvement retailer’s stock after selling 1,919 shares during the period. Valley National Advisers Inc.’s holdings in Lowe’s Companies were worth $1,568,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of LOW. Crew Capital Management Ltd. grew its stake in shares of Lowe’s Companies by 1.0% in the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after buying an additional 37 shares in the last quarter. Clean Yield Group lifted its holdings in shares of Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after acquiring an additional 38 shares during the last quarter. Drive Wealth Management LLC grew its position in Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 41 shares in the last quarter. Chapin Davis Inc. increased its stake in Lowe’s Companies by 1.3% during the third quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock worth $835,000 after acquiring an additional 41 shares during the last quarter. Finally, McKinley Carter Wealth Services Inc. raised its position in Lowe’s Companies by 0.3% during the third quarter. McKinley Carter Wealth Services Inc. now owns 12,846 shares of the home improvement retailer’s stock valued at $3,479,000 after purchasing an additional 41 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 1.4 %

Shares of LOW stock opened at $267.64 on Friday. The firm has a market cap of $151.83 billion, a price-to-earnings ratio of 22.19, a PEG ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $287.01. The company’s 50 day moving average is $260.81 and its 200 day moving average is $239.84.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (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 business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the business posted $4.56 EPS. The business’s revenue was down 5.5% compared to the same quarter last year. Analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

Insider Transactions at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated 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 owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently commented on LOW. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $300.00 in a report on Wednesday, October 9th. Morgan Stanley boosted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Royal Bank of Canada dropped their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research note on Wednesday, August 21st. Finally, Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target on the stock. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $270.60.

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.