BLB&B Advisors LLC Sells 610 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

BLB&B Advisors LLC decreased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 29.6% during the 3rd quarter, Holdings Channel reports. The firm owned 1,452 shares of the home improvement retailer’s stock after selling 610 shares during the period. BLB&B Advisors LLC’s holdings in Lowe’s Companies were worth $393,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Kingswood Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 11.8% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 4,115 shares of the home improvement retailer’s stock worth $1,048,000 after buying an additional 434 shares during the period. GoalVest Advisory LLC boosted its holdings in Lowe’s Companies by 63.2% in the first quarter. GoalVest Advisory LLC now owns 573 shares of the home improvement retailer’s stock valued at $146,000 after acquiring an additional 222 shares in the last quarter. Revolve Wealth Partners LLC purchased a new position in Lowe’s Companies during the 1st quarter valued at $214,000. Wealthcare Advisory Partners LLC raised its holdings in Lowe’s Companies by 26.8% in the 1st quarter. Wealthcare Advisory Partners LLC now owns 8,029 shares of the home improvement retailer’s stock worth $2,045,000 after purchasing an additional 1,697 shares in the last quarter. Finally, ERn Financial LLC purchased a new stake in shares of Lowe’s Companies in the 1st quarter worth about $225,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on 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 completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal 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 of the company’s stock, valued at approximately $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.

Lowe’s Companies Stock Performance

NYSE LOW opened at $270.11 on Thursday. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $287.01. The stock has a 50-day moving average of $259.66 and a 200 day moving average of $239.47. The company has a market capitalization of $153.92 billion, a price-to-earnings ratio of 21.70, a PEG ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period in the previous year, the business posted $4.56 earnings per share. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business 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 dividend of $1.15 per share. 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 dividend on an annualized basis and a yield of 1.70%. Lowe’s Companies’s payout ratio is currently 36.95%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Sanford C. Bernstein began coverage on shares of Lowe’s Companies in a research report on Tuesday. They set an “outperform” rating and a $323.00 price target on the stock. Wedbush reissued a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Morgan Stanley lifted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Finally, Gordon Haskett dropped their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.60.

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.