Heritage Family Offices LLP Sells 106 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Heritage Family Offices LLP lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,950 shares of the home improvement retailer’s stock after selling 106 shares during the quarter. Lowe’s Companies comprises 1.1% of Heritage Family Offices LLP’s investment portfolio, making the stock its 17th biggest holding. Heritage Family Offices LLP’s holdings in Lowe’s Companies were worth $2,153,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Strategic Financial Concepts LLC increased 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 buying an additional 1,199,100 shares in the last quarter. M&G Plc acquired a new position in Lowe’s Companies during the 1st quarter worth approximately $217,995,000. Price T Rowe Associates Inc. MD boosted its holdings in Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after acquiring an additional 493,180 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after acquiring an additional 463,645 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Stock Performance

NYSE LOW opened at $284.05 on Thursday. The company has a market capitalization of $161.86 billion, a PE ratio of 22.82, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $287.01. The company has a 50-day simple moving average of $255.56 and a 200 day simple moving average of $238.28.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) 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 analyst estimates of $23.93 billion. During the same quarter last year, the business posted $4.56 EPS. Lowe’s Companies’s quarterly revenue 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 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.62%. Lowe’s Companies’s payout ratio is presently 36.95%.

Wall Street Analyst Weigh In

LOW has been the topic of a number of research reports. Wells Fargo & Company lowered their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Piper Sandler lifted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Truist Financial upped their target price on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a report on Monday. Finally, Telsey Advisory Group lifted their price target on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $268.42.

Insider Activity

In related 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 value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on 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 in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their position. 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.