TrinityPoint Wealth LLC Decreases Position in Lowe’s Companies, Inc. (NYSE:LOW)

TrinityPoint Wealth LLC trimmed its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 2.1% in the third quarter, HoldingsChannel.com reports. The firm owned 7,134 shares of the home improvement retailer’s stock after selling 151 shares during the quarter. TrinityPoint Wealth LLC’s holdings in Lowe’s Companies were worth $1,932,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. JNBA Financial Advisors boosted its holdings in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 100 shares in the last quarter. MFA Wealth Advisors LLC raised its stake in Lowe’s Companies by 118.6% during the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after acquiring an additional 70 shares in the last quarter. Stephens Consulting LLC lifted its position in Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the last quarter. Kimelman & Baird LLC acquired a new position in Lowe’s Companies in the second quarter valued at $37,000. Finally, Tsfg LLC grew its holdings in shares of Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares during the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $269.40 on Monday. The company’s fifty day moving average is $267.19 and its two-hundred day moving average is $243.74. The firm has a market capitalization of $152.83 billion, a P/E ratio of 22.34, a PEG ratio of 2.21 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $196.23 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the business posted $4.56 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.71%. Lowe’s Companies’s payout ratio is currently 38.14%.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated 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 completion of the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on LOW shares. TD Cowen boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a report on Monday, October 28th. Stifel Nicolaus boosted their price objective on Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Wedbush restated a “neutral” rating and set a $250.00 target price on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Sanford C. Bernstein initiated coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 price target for the company. Finally, Gordon Haskett lowered their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Ten research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.84.

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.