Modera Wealth Management LLC Sells 2,242 Shares of Lowe’s Companies, Inc. $LOW

Modera Wealth Management LLC cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 277,792 shares of the home improvement retailer’s stock after selling 2,242 shares during the quarter. Modera Wealth Management LLC’s holdings in Lowe’s Companies were worth $69,812,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC boosted its position in shares of Lowe’s Companies by 119.7% during the fourth quarter. Brighton Jones LLC now owns 31,965 shares of the home improvement retailer’s stock valued at $7,889,000 after purchasing an additional 17,413 shares in the last quarter. Revolve Wealth Partners LLC boosted its holdings in shares of Lowe’s Companies by 31.6% during the 4th quarter. Revolve Wealth Partners LLC now owns 1,078 shares of the home improvement retailer’s stock valued at $266,000 after buying an additional 259 shares in the last quarter. Sivia Capital Partners LLC lifted its holdings in shares of Lowe’s Companies by 22.3% during the second quarter. Sivia Capital Partners LLC now owns 1,534 shares of the home improvement retailer’s stock valued at $340,000 after purchasing an additional 280 shares during the last quarter. TD Private Client Wealth LLC raised its position in shares of Lowe’s Companies by 7.8% in the 2nd quarter. TD Private Client Wealth LLC now owns 5,100 shares of the home improvement retailer’s stock worth $1,132,000 after purchasing an additional 368 shares during the last quarter. Finally, Perigon Wealth Management LLC lifted its position in Lowe’s Companies by 8.2% in the 2nd quarter. Perigon Wealth Management LLC now owns 4,012 shares of the home improvement retailer’s stock valued at $890,000 after acquiring an additional 303 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

LOW has been the subject of several recent research reports. TD Cowen boosted their target price on shares of Lowe’s Companies from $250.00 to $295.00 and gave the company a “hold” rating in a research report on Tuesday. Barclays raised shares of Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price target on the stock in a report on Wednesday, January 7th. JPMorgan Chase & Co. lifted their target price on Lowe’s Companies from $275.00 to $300.00 and gave the company an “overweight” rating in a research note on Thursday, November 20th. Wall Street Zen raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, Telsey Advisory Group decreased their price objective on Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Nineteen investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $283.65.

Lowe’s Companies Stock Up 0.5%

LOW opened at $276.46 on Friday. The company has a market capitalization of $155.08 billion, a P/E ratio of 22.92, a PEG ratio of 4.56 and a beta of 0.96. Lowe’s Companies, Inc. has a 52 week low of $206.38 and a 52 week high of $281.36. The stock’s fifty day moving average is $249.28 and its two-hundred day moving average is $246.05.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.09. The firm had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The firm’s revenue was up 3.2% on a year-over-year basis. During the same period in the prior year, the firm earned $2.89 EPS. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be paid a $1.20 dividend. The ex-dividend date is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Insider Buying and Selling

In related news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction that occurred on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the transaction, the chief executive officer directly owned 231,043 shares in the company, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.27% of the stock is currently owned by company insiders.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.