Hancock Whitney Corp Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Hancock Whitney Corp lessened its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,838 shares of the home improvement retailer’s stock after selling 127 shares during the period. Hancock Whitney Corp’s holdings in Lowe’s Companies were worth $1,310,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Stephens Consulting LLC raised its stake in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. JNBA Financial Advisors grew its position in Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares during the period. MFA Wealth Advisors LLC grew its position in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares during the period. Kimelman & Baird LLC purchased a new position in shares of Lowe’s Companies in the 2nd quarter valued at about $37,000. Finally, Tsfg LLC increased its stake in shares of Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

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 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 directly owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Lowe’s Companies Stock Performance

LOW opened at $274.48 on Wednesday. Lowe’s Companies, Inc. has a one year low of $196.32 and a one year high of $287.01. The stock has a market capitalization of $155.71 billion, a PE ratio of 22.89, a P/E/G ratio of 2.22 and a beta of 1.10. The business’s 50 day moving average price is $269.47 and its 200 day moving average price is $245.47.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.68%. 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. Lowe’s Companies’s dividend payout ratio is 38.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price target for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 price target on shares of Lowe’s Companies in a research note on Tuesday, November 19th. Morgan Stanley boosted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, Sanford C. Bernstein cut their price objective on Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a research note on Wednesday, November 20th. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $277.92.

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.