Trek Financial LLC Cuts Stock Position in Lowe’s Companies, Inc. $LOW

Trek Financial LLC cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 60.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,776 shares of the home improvement retailer’s stock after selling 2,723 shares during the quarter. Trek Financial LLC’s holdings in Lowe’s Companies were worth $446,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in LOW. Howard Hughes Medical Institute purchased a new position in Lowe’s Companies in the 2nd quarter worth approximately $27,000. Solstein Capital LLC raised its position in shares of Lowe’s Companies by 627.8% during the second quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after buying an additional 113 shares during the last quarter. Traub Capital Management LLC purchased a new position in shares of Lowe’s Companies in the second quarter worth $30,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Lowe’s Companies by 128.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock worth $30,000 after buying an additional 76 shares in the last quarter. Finally, Olistico Wealth LLC bought a new position in shares of Lowe’s Companies during the second quarter worth $33,000. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on LOW shares. Robert W. Baird decreased their price target on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a research note on Thursday, November 20th. Truist Financial set a $295.00 target price on Lowe’s Companies in a report on Friday, January 16th. Sanford C. Bernstein increased their price target on Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Friday, October 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Lowe’s Companies from $275.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, November 20th. Nineteen analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus target price of $283.65.

Lowe’s Companies Stock Performance

NYSE:LOW opened at $276.46 on Monday. The firm has a market capitalization of $155.08 billion, a PE ratio of 22.92, a PEG ratio of 4.59 and a beta of 0.96. The stock’s fifty day moving average is $249.28 and its 200 day moving average is $246.36. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $281.36.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The business had revenue of $20.81 billion for the quarter, compared to analysts’ expectations of $20.88 billion. During the same quarter in the previous year, the business posted $2.89 earnings per share. The business’s revenue was up 3.2% compared to the same quarter last year. Equities analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

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

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, CEO Marvin R. Ellison sold 18,000 shares of the business’s 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 owned 231,043 shares in the company, valued at $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.27% of the stock is currently owned by insiders.

Lowe’s Companies Profile

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.