Trustmark National Bank Trust Department Sells 699 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Trustmark National Bank Trust Department reduced its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 41.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 982 shares of the home improvement retailer’s stock after selling 699 shares during the period. Trustmark National Bank Trust Department’s holdings in Lowe’s Companies were worth $266,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. SSI Investment Management LLC bought a new position in Lowe’s Companies during the third quarter valued at approximately $232,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. grew its holdings in shares of Lowe’s Companies by 1.0% in the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 241,546 shares of the home improvement retailer’s stock worth $65,422,000 after purchasing an additional 2,324 shares during the last quarter. Cornerstone Advisors LLC grew its holdings in shares of Lowe’s Companies by 1.1% in the third quarter. Cornerstone Advisors LLC now owns 27,300 shares of the home improvement retailer’s stock worth $7,394,000 after purchasing an additional 300 shares during the last quarter. Citizens Financial Group Inc. RI grew its holdings in shares of Lowe’s Companies by 6.2% in the third quarter. Citizens Financial Group Inc. RI now owns 20,757 shares of the home improvement retailer’s stock worth $5,622,000 after purchasing an additional 1,219 shares during the last quarter. Finally, EagleClaw Capital Managment LLC grew its holdings in shares of Lowe’s Companies by 3.9% in the third quarter. EagleClaw Capital Managment LLC now owns 34,172 shares of the home improvement retailer’s stock worth $9,255,000 after purchasing an additional 1,295 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Price Performance

LOW opened at $265.50 on Friday. Lowe’s Companies, Inc. has a 1 year low of $196.23 and a 1 year high of $287.01. The stock has a 50-day moving average price of $268.56 and a 200-day moving average price of $244.50. The firm has a market cap of $150.62 billion, a PE ratio of 22.14, a P/E/G ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the prior year, the business earned $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.82 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.73%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 38.37%.

Insider Buying and Selling

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was 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 directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 41.91 % 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 firm’s stock in a transaction on 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 sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on LOW shares. Barclays raised their target price on shares of Lowe’s Companies from $229.00 to $245.00 and gave the stock an “equal weight” rating in a report on Wednesday. Stifel Nicolaus raised their target price on shares of Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a report on Monday, November 11th. Bank of America lifted their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Evercore ISI lifted their price target on shares of Lowe’s Companies from $255.00 to $270.00 and gave the company an “in-line” rating in a report on Wednesday. Finally, TD Cowen lifted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Ten 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 presently has a consensus rating of “Moderate Buy” and an average target price of $277.92.

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.