Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Wealth Alliance

Wealth Alliance reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.8% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,099 shares of the home improvement retailer’s stock after selling 131 shares during the quarter. Wealth Alliance’s holdings in Lowe’s Companies were worth $1,565,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the business. Financial & Tax Architects LLC increased its stake in Lowe’s Companies by 5.4% in the 2nd quarter. Financial & Tax Architects LLC now owns 26,973 shares of the home improvement retailer’s stock valued at $5,946,000 after purchasing an additional 1,392 shares in the last quarter. Axxcess Wealth Management LLC increased its stake in Lowe’s Companies by 27.2% in the 2nd quarter. Axxcess Wealth Management LLC now owns 16,451 shares of the home improvement retailer’s stock valued at $3,627,000 after purchasing an additional 3,521 shares in the last quarter. Perennial Investment Advisors LLC increased its position in Lowe’s Companies by 3.0% during the second quarter. Perennial Investment Advisors LLC now owns 2,228 shares of the home improvement retailer’s stock worth $491,000 after buying an additional 64 shares in the last quarter. Virtu Financial LLC increased its position in Lowe’s Companies by 3.1% during the second quarter. Virtu Financial LLC now owns 3,296 shares of the home improvement retailer’s stock worth $727,000 after buying an additional 99 shares in the last quarter. Finally, Montag & Caldwell LLC increased its position in Lowe’s Companies by 22.5% during the second quarter. Montag & Caldwell LLC now owns 49,884 shares of the home improvement retailer’s stock worth $10,997,000 after buying an additional 9,171 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated 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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.26% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on LOW shares. DA Davidson dropped their price target on Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating for the company in a research report on Wednesday, May 22nd. Wells Fargo & Company dropped their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Friday, August 2nd. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a report on Tuesday, August 20th. Finally, Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $252.83.

Lowe’s Companies Price Performance

Shares of LOW opened at $256.76 on Wednesday. The stock’s 50-day moving average is $241.71 and its two-hundred day moving average is $234.94. The stock has a market cap of $146.31 billion, a PE ratio of 20.62, a P/E/G ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.56 earnings per share. On average, research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business 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 dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Lowe’s Companies Company 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.