Mattern Wealth Management LLC Has $2.95 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Mattern Wealth Management LLC reduced its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 57.4% during the 3rd quarter, Holdings Channel.com reports. The firm owned 10,885 shares of the home improvement retailer’s stock after selling 14,639 shares during the period. Mattern Wealth Management LLC’s holdings in Lowe’s Companies were worth $2,948,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. Sky Investment Group LLC acquired a new position in shares of Lowe’s Companies in the third quarter worth $217,000. Oakworth Capital Inc. increased its position in Lowe’s Companies by 6.8% during the third quarter. Oakworth Capital Inc. now owns 6,346 shares of the home improvement retailer’s stock worth $1,719,000 after buying an additional 406 shares during the last quarter. Maple Capital Management Inc. acquired a new position in Lowe’s Companies during the third quarter worth $211,000. Foundations Investment Advisors LLC boosted its holdings in Lowe’s Companies by 307.0% during the third quarter. Foundations Investment Advisors LLC now owns 26,482 shares of the home improvement retailer’s stock valued at $7,173,000 after acquiring an additional 19,976 shares during the period. Finally, Community Financial Services Group LLC boosted its holdings in Lowe’s Companies by 2.4% during the third quarter. Community Financial Services Group LLC now owns 18,075 shares of the home improvement retailer’s stock valued at $4,896,000 after acquiring an additional 419 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The shares were 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 $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related 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 shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 transaction of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents 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.

Analysts Set New Price Targets

Several research firms recently weighed in on LOW. Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Truist Financial raised their price objective on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Bank of America raised 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. Gordon Haskett lowered their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Finally, Wells Fargo & Company reduced their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $270.60.

Lowe’s Companies Price Performance

Shares of LOW traded down $5.82 during trading hours on Tuesday, hitting $271.02. 1,218,929 shares of the stock were exchanged, compared to its average volume of 2,444,463. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $287.01. The business has a 50-day moving average of $258.29 and a 200-day moving average of $239.03. The firm has a market capitalization of $154.44 billion, a P/E ratio of 22.24, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the prior year, the company posted $4.56 earnings per share. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, analysts forecast 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 disclosed 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 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

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.