Patton Albertson Miller Group LLC Sells 1,962 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Patton Albertson Miller Group LLC decreased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 31,035 shares of the home improvement retailer’s stock after selling 1,962 shares during the quarter. Lowe’s Companies comprises approximately 1.1% of Patton Albertson Miller Group LLC’s investment portfolio, making the stock its 27th largest position. Patton Albertson Miller Group LLC’s holdings in Lowe’s Companies were worth $8,406,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of LOW. International Assets Investment Management LLC grew its position in shares of Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after buying an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC grew its position in Lowe’s Companies by 20,275.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after purchasing an additional 1,199,100 shares during the period. Applied Finance Capital Management LLC grew its position in Lowe’s Companies by 387.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after purchasing an additional 645,017 shares during the period. Marshall Wace LLP grew its position in Lowe’s Companies by 170.5% in the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock valued at $162,178,000 after purchasing an additional 463,645 shares during the period. Finally, Hardin Capital Partners LLC acquired a new stake in Lowe’s Companies in the 2nd quarter valued at $74,763,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on LOW. Morgan Stanley lifted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. JPMorgan Chase & Co. cut their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price objective for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Bank of America lifted their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, DA Davidson lifted their target price on Lowe’s Companies from $240.00 to $270.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 20th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Lowe’s Companies Stock Up 4.0 %

LOW stock opened at $275.33 on Tuesday. The firm has a market capitalization of $156.19 billion, a PE ratio of 22.96, a PEG ratio of 2.22 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $196.32 and a twelve month high of $287.01. The stock has a 50-day simple moving average of $269.11 and a two-hundred day simple moving average of $245.19.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date was Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 38.37%.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 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 of the company’s stock, valued at $3,586,940.30. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.