Hartford Investment Management Co. Sells 809 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Hartford Investment Management Co. lowered its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 35,846 shares of the home improvement retailer’s stock after selling 809 shares during the quarter. Hartford Investment Management Co.’s holdings in Lowe’s Companies were worth $9,709,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Commerzbank Aktiengesellschaft FI boosted its stake in Lowe’s Companies by 201.4% in the third quarter. Commerzbank Aktiengesellschaft FI now owns 9,389 shares of the home improvement retailer’s stock valued at $2,544,000 after acquiring an additional 6,274 shares during the last quarter. Meadow Creek Wealth Advisors LLC bought a new position in shares of Lowe’s Companies in the 3rd quarter worth $249,000. Chris Bulman Inc grew its stake in shares of Lowe’s Companies by 357.8% during the third quarter. Chris Bulman Inc now owns 2,559 shares of the home improvement retailer’s stock worth $693,000 after purchasing an additional 2,000 shares during the period. Elevated Capital Advisors LLC increased its holdings in Lowe’s Companies by 3.7% in the third quarter. Elevated Capital Advisors LLC now owns 2,573 shares of the home improvement retailer’s stock valued at $697,000 after purchasing an additional 91 shares during the last quarter. Finally, Liberty Capital Management Inc. lifted its stake in Lowe’s Companies by 4.4% in the third quarter. Liberty Capital Management Inc. now owns 4,557 shares of the home improvement retailer’s stock valued at $1,234,000 after buying an additional 193 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.4 %

NYSE LOW traded up $0.98 during midday trading on Wednesday, hitting $272.05. The company had a trading volume of 254,858 shares, compared to its average volume of 2,442,449. The company has a market capitalization of $155.02 billion, a PE ratio of 21.73, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $287.01. The firm has a 50-day moving average price of $259.01 and a 200-day moving average price of $239.26.

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, beating analysts’ consensus estimates 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 firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the business posted $4.56 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. On average, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. 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 1.69%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 36.95%.

Wall Street Analyst Weigh In

LOW has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. UBS Group raised their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Wells Fargo & Company dropped their price target on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. JPMorgan Chase & Co. cut their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Eleven investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $270.60.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred 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 transaction, the executive vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 transaction of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Company Profile

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.