Legacy Capital Wealth Partners LLC Sells 579 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Legacy Capital Wealth Partners LLC lowered its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.2% in the 3rd quarter, Holdings Channel.com reports. The fund owned 6,504 shares of the home improvement retailer’s stock after selling 579 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Lowe’s Companies were worth $1,762,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of LOW. Stephens Consulting LLC raised its stake in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the last quarter. JNBA Financial Advisors raised its stake in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 100 shares during the last quarter. MFA Wealth Advisors LLC raised its stake 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 worth $35,000 after buying an additional 70 shares during the last quarter. Kimelman & Baird LLC bought a new position in Lowe’s Companies during the second quarter worth $37,000. Finally, Tsfg LLC raised its stake in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 100 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on LOW. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their target price for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. Wedbush reissued a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research note on Wednesday, August 21st. JPMorgan Chase & Co. lowered 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. Sanford C. Bernstein initiated coverage on shares of Lowe’s Companies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 price target for the company. Finally, Gordon Haskett reduced 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. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $273.44.

Lowe’s Companies Price Performance

LOW opened at $271.10 on Friday. The company’s 50-day moving average is $264.61 and its 200 day moving average is $242.11. Lowe’s Companies, Inc. has a fifty-two week low of $189.05 and a fifty-two week high of $287.01. The firm has a market capitalization of $153.79 billion, a P/E ratio of 22.48, a PEG ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $23.93 billion. During the same period last year, the firm earned $4.56 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts expect 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 was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. 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 1.70%. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Lowe’s Companies 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 transaction, the chief accounting officer now directly 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 Securities & Exchange Commission, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 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. 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.