Hennion & Walsh Asset Management Inc. Lowers Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Hennion & Walsh Asset Management Inc. lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 37.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,172 shares of the home improvement retailer’s stock after selling 2,550 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in Lowe’s Companies were worth $1,120,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Stephens Consulting LLC raised its holdings in shares of Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. Keener Financial Planning LLC purchased a new position in Lowe’s Companies during the first quarter valued at approximately $35,000. MFA Wealth Advisors LLC raised its stake in Lowe’s Companies by 118.6% in 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 in the last quarter. Kimelman & Baird LLC purchased a new stake in Lowe’s Companies during the second quarter worth $37,000. Finally, Tsfg LLC boosted its position in Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 100 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Stock Down 1.4 %

Shares of LOW stock opened at $267.64 on Friday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $287.01. The stock has a market cap of $151.83 billion, a PE ratio of 22.19, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The business has a 50-day simple moving average of $260.81 and a 200-day simple moving average of $239.84.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The company 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%. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the company posted $4.56 earnings per share. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the 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 sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other 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 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 $3,586,940.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction 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 completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have recently commented on LOW shares. Sanford C. Bernstein assumed coverage on Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 price target for the company. Melius Research assumed coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price for the company. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. TD Cowen boosted their price objective on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. Finally, Telsey Advisory Group increased their target price on shares of Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $270.60.

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.