Trek Financial LLC Lowers Stake in Lowe’s Companies, Inc. $LOW

Trek Financial LLC cut its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 60.5% during the third quarter, HoldingsChannel reports. The firm owned 1,776 shares of the home improvement retailer’s stock after selling 2,723 shares during the period. Trek Financial LLC’s holdings in Lowe’s Companies were worth $446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Waterloo Capital L.P. grew its stake in Lowe’s Companies by 1.2% in the 2nd quarter. Waterloo Capital L.P. now owns 3,455 shares of the home improvement retailer’s stock worth $767,000 after acquiring an additional 41 shares in the last quarter. TruWealth Advisors LLC boosted its holdings in shares of Lowe’s Companies by 2.7% in the third quarter. TruWealth Advisors LLC now owns 1,580 shares of the home improvement retailer’s stock valued at $397,000 after purchasing an additional 42 shares during the period. Cypress Wealth Services LLC grew its stake in Lowe’s Companies by 2.0% in the third quarter. Cypress Wealth Services LLC now owns 2,191 shares of the home improvement retailer’s stock worth $551,000 after purchasing an additional 42 shares in the last quarter. Hidden Cove Wealth Management LLC grew its stake in Lowe’s Companies by 4.6% in the third quarter. Hidden Cove Wealth Management LLC now owns 960 shares of the home improvement retailer’s stock worth $241,000 after purchasing an additional 42 shares in the last quarter. Finally, Roble Belko & Company Inc increased its holdings in Lowe’s Companies by 21.4% during the 3rd quarter. Roble Belko & Company Inc now owns 250 shares of the home improvement retailer’s stock worth $63,000 after purchasing an additional 44 shares during the period. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

LOW stock opened at $276.46 on Monday. Lowe’s Companies, Inc. has a one year low of $206.38 and a one year high of $281.36. The firm has a market cap of $155.08 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 4.59 and a beta of 0.96. The firm has a 50-day simple moving average of $249.28 and a two-hundred day simple moving average of $246.36.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. During the same quarter in the previous year, the business posted $2.89 EPS. Lowe’s Companies’s revenue was up 3.2% on a year-over-year basis. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the company. Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 price target on the stock in a research report on Tuesday, January 13th. Oppenheimer dropped their target price on shares of Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating on the stock in a report on Friday, December 5th. Morgan Stanley raised their target price on shares of Lowe’s Companies from $270.00 to $296.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. TD Cowen upped their price target on shares of Lowe’s Companies from $250.00 to $295.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Lowe’s Companies in a research note on Monday, December 29th. Nineteen research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average price target of $283.65.

Insider Activity at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the firm’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the sale, the chief executive officer owned 231,043 shares of the company’s stock, valued at $60,341,500.31. This trade represents a 7.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Company 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.