1834 Investment Advisors Co. Cuts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

1834 Investment Advisors Co. lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 47.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,429 shares of the home improvement retailer’s stock after selling 1,286 shares during the quarter. 1834 Investment Advisors Co.’s holdings in Lowe’s Companies were worth $387,000 as of its most recent filing with the SEC.

Other hedge funds have also added to or reduced their stakes in the company. Crew Capital Management Ltd. grew its stake in Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after acquiring an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC grew its position in shares of Lowe’s Companies by 2.8% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after purchasing an additional 37 shares in the last quarter. Clean Yield Group increased its holdings in shares of Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 38 shares during the period. Drive Wealth Management LLC raised its position in shares of 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 buying an additional 41 shares in the last quarter. Finally, Chapin Davis Inc. boosted 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 valued at $835,000 after buying an additional 41 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

NYSE LOW opened at $261.66 on Thursday. The stock has a market cap of $148.44 billion, a P/E ratio of 21.70, a price-to-earnings-growth ratio of 2.18 and a beta of 1.10. Lowe’s Companies, Inc. has a fifty-two week low of $189.05 and a fifty-two week high of $287.01. The stock has a 50 day simple moving average of $263.77 and a two-hundred day simple moving average of $241.67.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations 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 for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.56 earnings per share. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 38.14%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the company’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 transaction 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’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 completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

LOW has been the topic of several recent analyst reports. Royal Bank of Canada lowered their price target on 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. Telsey Advisory Group lifted their target price on shares of Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, October 2nd. Morgan Stanley increased their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Piper Sandler raised their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Wells Fargo & Company upped their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a research report on Wednesday. Eleven analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $272.20.

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.