Verity & Verity LLC Sells 39 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Verity & Verity LLC decreased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% in the third quarter, HoldingsChannel reports. The institutional investor owned 32,591 shares of the home improvement retailer’s stock after selling 39 shares during the period. Verity & Verity LLC’s holdings in Lowe’s Companies were worth $8,827,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Edgestream Partners L.P. raised its holdings in shares of Lowe’s Companies by 2.8% in the 1st quarter. Edgestream Partners L.P. now owns 6,236 shares of the home improvement retailer’s stock valued at $1,588,000 after purchasing an additional 172 shares in the last quarter. Lake Street Advisors Group LLC grew its position in shares of Lowe’s Companies by 133.8% in the 1st quarter. Lake Street Advisors Group LLC now owns 9,165 shares of the home improvement retailer’s stock worth $2,335,000 after buying an additional 5,245 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Lowe’s Companies during the 1st quarter worth approximately $11,208,000. InterOcean Capital Group LLC grew its position in Lowe’s Companies by 5.8% during the 1st quarter. InterOcean Capital Group LLC now owns 3,580 shares of the home improvement retailer’s stock worth $912,000 after purchasing an additional 196 shares during the last quarter. Finally, Ossiam increased its stake in shares of Lowe’s Companies by 93.6% in the first quarter. Ossiam now owns 461,688 shares of the home improvement retailer’s stock worth $117,606,000 after acquiring an additional 223,199 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.9 %

Shares of NYSE LOW opened at $271.87 on Tuesday. The business’s 50 day moving average is $267.74 and its two-hundred day moving average is $244.04. The company has a market cap of $154.23 billion, a P/E ratio of 22.54, a P/E/G ratio of 2.21 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.56 EPS. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is presently 38.14%.

Wall Street Analyst Weigh In

LOW has been the topic of a number of recent analyst reports. Telsey Advisory Group raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $275.00 to $305.00 in a report on Friday, November 8th. Bank of America increased their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Sanford C. Bernstein initiated coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price objective for the company. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Finally, Oppenheimer upgraded shares of 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 report on Tuesday, September 24th. Ten equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $273.84.

Insider Transactions at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 41.91 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.