Modera Wealth Management LLC Sells 7,472 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Modera Wealth Management LLC lessened its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 290,689 shares of the home improvement retailer’s stock after selling 7,472 shares during the quarter. Lowe’s Companies makes up about 1.0% of Modera Wealth Management LLC’s portfolio, making the stock its 24th biggest position. Modera Wealth Management LLC’s holdings in Lowe’s Companies were worth $78,733,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in LOW. Crew Capital Management Ltd. boosted its position 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 purchasing an additional 37 shares in the last quarter. Clean Yield Group lifted its position in shares of 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 buying an additional 38 shares during the last quarter. Drive Wealth Management LLC lifted its position in shares of Lowe’s Companies by 2.2% during the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after buying an additional 41 shares during the last quarter. Chapin Davis Inc. boosted its holdings in shares of Lowe’s Companies by 1.3% in the 3rd 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 in the last quarter. Finally, McKinley Carter Wealth Services Inc. grew its position in shares of Lowe’s Companies by 0.3% in the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 12,846 shares of the home improvement retailer’s stock worth $3,479,000 after buying an additional 41 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently commented on LOW. Melius Research began coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 target price for the company. UBS Group increased their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Bank of America boosted their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Finally, Loop Capital upgraded 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. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $270.60.

Lowe’s Companies Trading Down 1.4 %

Shares of LOW stock opened at $267.64 on Friday. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $287.01. The stock has a market cap of $151.83 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.24 and a beta of 1.10. The stock has a 50 day moving average of $260.81 and a 200 day moving average of $239.84.

Lowe’s Companies (NYSE:LOW) last posted its 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. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the firm earned $4.56 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. On average, research analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. 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 1.72%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is presently 38.14%.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, 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 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.