Camden National Bank Cuts Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Camden National Bank reduced its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,439 shares of the home improvement retailer’s stock after selling 50 shares during the quarter. Camden National Bank’s holdings in Lowe’s Companies were worth $390,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Crew Capital Management Ltd. raised its position in shares of Lowe’s Companies by 1.0% during the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after buying an additional 37 shares in the last quarter. Summit Place Financial Advisors LLC raised its position in Lowe’s Companies by 2.8% during the third 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 raised its position in Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after purchasing an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. lifted its stake in Lowe’s Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock worth $2,021,000 after purchasing an additional 40 shares during the last quarter. Finally, Drive Wealth Management LLC boosted its holdings in shares of Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after purchasing an additional 41 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on Wednesday, October 2nd. The shares were 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 of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % 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.

Analysts Set New Price Targets

A number of research firms recently weighed in on LOW. Telsey Advisory Group restated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a research report on Tuesday. Morgan Stanley boosted their price objective 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. Mizuho increased their target price on shares of Lowe’s Companies from $280.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, DA Davidson upped their price target on shares of Lowe’s Companies from $240.00 to $270.00 and gave the company a “neutral” rating in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Lowe’s Companies Price Performance

LOW stock opened at $264.63 on Friday. Lowe’s Companies, Inc. has a 1 year low of $196.23 and a 1 year high of $287.01. The firm has a 50-day moving average of $268.74 and a 200 day moving average of $244.73. The company has a market cap of $150.12 billion, a P/E ratio of 22.07, a PEG ratio of 2.22 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its earnings results 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 negative return on equity of 47.55% and a net margin of 8.19%. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the company earned $4.56 EPS. The business’s revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts expect that Lowe’s Companies, Inc. will post 11.88 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.74%. Lowe’s Companies’s dividend payout ratio is 38.37%.

Lowe’s Companies 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.