Lowe’s Companies, Inc. (NYSE:LOW) Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp cut its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 81,787 shares of the home improvement retailer’s stock after selling 2,917 shares during the quarter. Van ECK Associates Corp’s holdings in Lowe’s Companies were worth $22,092,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Stephens Consulting LLC lifted its position in shares of Lowe’s Companies by 93.3% during the 2nd 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 period. Keener Financial Planning LLC acquired a new position in Lowe’s Companies during the first quarter worth $35,000. MFA Wealth Advisors LLC boosted its position in Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares in the last quarter. Kimelman & Baird LLC acquired a new stake in Lowe’s Companies in the second quarter valued at $37,000. Finally, Tsfg LLC grew its holdings in Lowe’s Companies by 128.2% in the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction that occurred on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on LOW. Morgan Stanley raised their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company cut their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and increased their target price for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. Gordon Haskett cut their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Finally, Piper Sandler increased their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.60.

Lowe’s Companies Stock Performance

NYSE LOW opened at $264.98 on Tuesday. Lowe’s Companies, Inc. has a one year low of $189.05 and a one year high of $287.01. The company’s 50 day moving average price is $263.10 and its 200 day moving average price is $241.25. The firm has a market capitalization of $150.32 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 2.15 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the prior year, the firm earned $4.56 EPS. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. Sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed 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 an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.74%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

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.