Schwartz Investment Counsel Inc. Has $72.76 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Schwartz Investment Counsel Inc. decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 9.1% in the 3rd quarter, Holdings Channel.com reports. The firm owned 268,650 shares of the home improvement retailer’s stock after selling 27,000 shares during the quarter. Lowe’s Companies makes up about 2.6% of Schwartz Investment Counsel Inc.’s portfolio, making the stock its 8th largest position. Schwartz Investment Counsel Inc.’s holdings in Lowe’s Companies were worth $72,764,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Bamco Inc. NY raised its holdings in shares of Lowe’s Companies by 10.3% in the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after buying an additional 20,181 shares in the last quarter. Plato Investment Management Ltd boosted its position in Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after buying an additional 5,470 shares during the last quarter. Lincoln National Corp boosted its position in Lowe’s Companies by 1.5% in the 1st quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer’s stock valued at $2,835,000 after buying an additional 169 shares during the last quarter. Daymark Wealth Partners LLC boosted its position in shares of Lowe’s Companies by 12.7% in the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock worth $5,637,000 after purchasing an additional 2,889 shares during the last quarter. Finally, AMF Tjanstepension AB boosted its position in shares of Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock worth $43,290,000 after purchasing an additional 20,123 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.5 %

Shares of NYSE LOW opened at $271.36 on Friday. The company has a market cap of $154.63 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $287.01. The stock has a 50-day moving average price of $259.66 and a two-hundred day moving average price of $239.47.

Lowe’s Companies (NYSE:LOW) last issued its 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 firm had revenue of $23.59 billion during 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 business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $4.56 earnings per share. On average, sell-side analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is 36.95%.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This 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 at this hyperlink. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $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. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

LOW has been the topic of several recent research reports. Royal Bank of Canada reduced their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Wedbush reaffirmed a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Melius Research assumed coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price for the company. JPMorgan Chase & Co. decreased their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group lifted their price objective on shares of Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.60.

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.