Community Trust & Investment Co. Decreases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Community Trust & Investment Co. trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 0.4% during the second quarter, Holdings Channel reports. The fund owned 55,364 shares of the home improvement retailer’s stock after selling 204 shares during the period. Community Trust & Investment Co.’s holdings in Lowe’s Companies were worth $12,496,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Ritter Daniher Financial Advisory LLC DE raised its stake in Lowe’s Companies by 357.1% in the 1st quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the home improvement retailer’s stock valued at $26,000 after acquiring an additional 100 shares during the period. Tanglewood Legacy Advisors LLC purchased a new position in shares of Lowe’s Companies in the fourth quarter worth about $30,000. Grey Fox Wealth Advisors LLC bought a new stake in shares of Lowe’s Companies in the fourth quarter valued at approximately $31,000. Ruedi Wealth Management Inc. purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at approximately $32,000. Finally, Sanctuary Wealth Management L.L.C. bought a new stake in Lowe’s Companies during the 4th quarter valued at $35,000. 71.88% of the stock is owned by institutional investors.

Lowe’s Companies Stock Performance

LOW traded down $2.17 on Tuesday, hitting $215.55. 892,094 shares of the company were exchanged, compared to its average volume of 2,822,265. The firm has a fifty day simple moving average of $227.93 and a two-hundred day simple moving average of $213.68. The stock has a market capitalization of $124.40 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.43 and a beta of 1.09. Lowe’s Companies, Inc. has a 12 month low of $176.50 and a 12 month high of $237.21.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, beating the consensus estimate of $4.49 by $0.07. The firm had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.97 billion. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. The company’s quarterly revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.67 earnings per share. On average, equities analysts expect that Lowe’s Companies, Inc. will post 13.45 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be given a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date of this dividend is Tuesday, October 24th. Lowe’s Companies’s payout ratio is currently 43.31%.

Analysts Set New Price Targets

LOW has been the subject of several analyst reports. Truist Financial raised their target price on Lowe’s Companies from $249.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Argus upped their target price on shares of Lowe’s Companies from $250.00 to $260.00 in a report on Wednesday, July 12th. UBS Group raised their price target on shares of Lowe’s Companies from $250.00 to $265.00 and gave the company a “buy” rating in a report on Wednesday, August 23rd. Loop Capital boosted their price target on shares of Lowe’s Companies from $215.00 to $225.00 and gave the company a “hold” rating in a research report on Wednesday, August 23rd. Finally, DA Davidson increased their price objective on Lowe’s Companies from $228.00 to $237.00 in a research report on Wednesday, May 24th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $237.48.

Insider Transactions at Lowe’s Companies

In related news, EVP Janice Dupre sold 5,380 shares of the business’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the transaction, the executive vice president now owns 24,216 shares in the company, valued at $5,600,676.48. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the completion of the sale, the executive vice president now directly owns 46,594 shares in the company, valued at approximately $10,368,562.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Janice Dupre sold 5,380 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total value of $1,244,286.40. Following the transaction, the executive vice president now directly owns 24,216 shares in the company, valued at $5,600,676.48. The disclosure for this sale can be found here. Corporate insiders own 0.24% 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.