Lowe’s Companies, Inc. (NYSE:LOW) Stake Reduced by Capital Investment Counsel Inc

Capital Investment Counsel Inc lessened its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 56,265 shares of the home improvement retailer’s stock after selling 599 shares during the quarter. Lowe’s Companies comprises approximately 2.2% of Capital Investment Counsel Inc’s investment portfolio, making the stock its 8th largest holding. Capital Investment Counsel Inc’s holdings in Lowe’s Companies were worth $15,239,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. McAdam LLC lifted its holdings in shares of Lowe’s Companies by 3.6% in the 3rd quarter. McAdam LLC now owns 1,457 shares of the home improvement retailer’s stock valued at $395,000 after buying an additional 51 shares during the period. MFA Wealth Advisors LLC raised its position in Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares in the last quarter. U.S. Capital Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 0.6% in the third quarter. U.S. Capital Wealth Advisors LLC now owns 19,564 shares of the home improvement retailer’s stock valued at $5,299,000 after acquiring an additional 119 shares during the period. Iron Horse Wealth Management LLC grew its stake in shares of Lowe’s Companies by 40.0% during the 3rd quarter. Iron Horse Wealth Management LLC now owns 315 shares of the home improvement retailer’s stock worth $85,000 after purchasing an additional 90 shares during the period. Finally, Commerzbank Aktiengesellschaft FI lifted its stake in shares of Lowe’s Companies by 201.4% in the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 9,389 shares of the home improvement retailer’s stock valued at $2,544,000 after purchasing an additional 6,274 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Down 0.4 %

Shares of LOW opened at $270.11 on Thursday. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $287.01. The firm has a market capitalization of $153.92 billion, a P/E ratio of 21.70, a P/E/G ratio of 2.28 and a beta of 1.10. The firm has a 50-day moving average price of $259.66 and a 200 day moving average price of $239.47.

Lowe’s Companies (NYSE:LOW) last posted its quarterly 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. The business had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the prior year, the company posted $4.56 EPS. Equities 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 firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 36.95%.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s 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 completion of the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated 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 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on LOW. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Truist Financial increased their price target on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. TD Cowen boosted their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research report on Thursday, September 19th. Morgan Stanley increased their target price on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, 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 report on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.60.

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.