Grandfield & Dodd LLC Trims Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Grandfield & Dodd LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 13.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,994 shares of the home improvement retailer’s stock after selling 300 shares during the period. Grandfield & Dodd LLC’s holdings in Lowe’s Companies were worth $540,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the stock. Ontario Teachers Pension Plan Board raised its position in Lowe’s Companies by 1.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock valued at $634,700,000 after acquiring an additional 36,054 shares in the last quarter. First Horizon Advisors Inc. grew its stake in shares of Lowe’s Companies by 1.6% during the 3rd quarter. First Horizon Advisors Inc. now owns 13,779 shares of the home improvement retailer’s stock worth $3,732,000 after purchasing an additional 215 shares during the period. Jennison Associates LLC increased its holdings in shares of Lowe’s Companies by 23.7% during the 3rd quarter. Jennison Associates LLC now owns 193,672 shares of the home improvement retailer’s stock valued at $52,456,000 after purchasing an additional 37,162 shares in the last quarter. Strategy Asset Managers LLC increased its holdings in shares of Lowe’s Companies by 8.8% during the 3rd quarter. Strategy Asset Managers LLC now owns 1,689 shares of the home improvement retailer’s stock valued at $457,000 after purchasing an additional 136 shares in the last quarter. Finally, Prospera Private Wealth LLC lifted its stake in shares of Lowe’s Companies by 40.2% in the 3rd quarter. Prospera Private Wealth LLC now owns 1,283 shares of the home improvement retailer’s stock valued at $348,000 after purchasing an additional 368 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity

In other Lowe’s Companies 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 approximately $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the stock. Gordon Haskett cut their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. UBS Group upped their price target on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Truist Financial increased their price target on Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Evercore ISI boosted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 target price on shares of Lowe’s Companies in a research report on Tuesday. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Stock Down 4.6 %

Shares of NYSE LOW opened at $259.23 on Wednesday. Lowe’s Companies, Inc. has a fifty-two week low of $196.23 and a fifty-two week high of $287.01. The business has a 50 day moving average price of $267.97 and a two-hundred day moving average price of $244.23. The firm has a market cap of $147.06 billion, a PE ratio of 21.50, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released 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 firm had revenue of $23.59 billion during 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 firm’s revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.56 earnings per share. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.77%. Lowe’s Companies’s dividend payout ratio is 38.14%.

About Lowe’s Companies

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.