Plimoth Trust Co. LLC Sells 914 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Plimoth Trust Co. LLC reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,190 shares of the home improvement retailer’s stock after selling 914 shares during the period. Lowe’s Companies accounts for about 1.1% of Plimoth Trust Co. LLC’s holdings, making the stock its 26th biggest position. Plimoth Trust Co. LLC’s holdings in Lowe’s Companies were worth $4,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Crew Capital Management Ltd. boosted its holdings in shares of Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after acquiring an additional 37 shares during the period. Clean Yield Group boosted its stake in Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 38 shares during the period. Drive Wealth Management LLC boosted its stake in 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 during the period. Chapin Davis Inc. grew its holdings in Lowe’s Companies by 1.3% during 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. increased its position in shares of Lowe’s Companies by 0.3% during the third quarter. McKinley Carter Wealth Services Inc. now owns 12,846 shares of the home improvement retailer’s stock valued at $3,479,000 after buying an additional 41 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

NYSE:LOW traded down $4.80 during midday trading on Monday, reaching $276.84. 2,391,705 shares of the stock traded hands, compared to its average volume of 2,450,543. The stock has a market capitalization of $157.75 billion, a P/E ratio of 22.62, a PEG ratio of 2.28 and a beta of 1.10. The company has a fifty day moving average of $257.37 and a 200 day moving average of $238.75. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.56 earnings per share. On average, analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Analysts Set New Price Targets

LOW has been the subject of several recent analyst reports. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. TD Cowen upped their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a report on Thursday, September 19th. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price objective for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Gordon Haskett decreased their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Finally, StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Eleven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $268.42.

Insider Transactions at Lowe’s Companies

In related news, 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 $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other 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 stock was 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. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’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 directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

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.