Whittier Trust Co. Lowers Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Whittier Trust Co. reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,384 shares of the home improvement retailer’s stock after selling 1,214 shares during the period. Whittier Trust Co.’s holdings in Lowe’s Companies were worth $19,875,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in LOW. Bamco Inc. NY raised its stake in shares of Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after acquiring an additional 20,181 shares in the last quarter. Plato Investment Management Ltd boosted its stake in shares of Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after buying an additional 5,470 shares during the period. Lincoln National Corp grew its position in shares of Lowe’s Companies by 1.5% during the first quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer’s stock worth $2,835,000 after buying an additional 169 shares in the last quarter. Daymark Wealth Partners LLC grew its position in shares of Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after buying an additional 2,889 shares in the last quarter. Finally, AMF Tjanstepension AB raised its holdings in Lowe’s Companies by 14.4% in the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after acquiring an additional 20,123 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have commented on LOW shares. Bank of America boosted their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Melius Research began coverage on Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 target price for the company. Gordon Haskett decreased 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 research note on Wednesday, August 21st. Wells Fargo & Company decreased their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, August 21st. Finally, Wedbush reissued a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and an average target price of $268.42.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction 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 directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction 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 sale, the executive vice president now 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. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW stock traded down $5.51 during trading hours on Monday, reaching $276.13. 1,109,844 shares of the company were exchanged, compared to its average volume of 2,444,229. The company has a market cap of $157.35 billion, a price-to-earnings ratio of 22.62, a P/E/G ratio of 2.28 and a beta of 1.10. The stock’s fifty day moving average is $257.37 and its two-hundred day moving average is $238.75. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 the consensus estimate of $23.93 billion. During the same quarter in the prior year, the firm earned $4.56 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. On average, research analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend 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 annualized dividend and a dividend yield of 1.67%. Lowe’s Companies’s dividend payout ratio is presently 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.