Cadence Bank Sells 412 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Cadence Bank trimmed its position in Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 29,634 shares of the home improvement retailer’s stock after selling 412 shares during the quarter. Cadence Bank’s holdings in Lowe’s Companies were worth $8,026,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Crew Capital Management Ltd. grew its position in Lowe’s Companies by 1.0% in the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock worth $1,049,000 after acquiring an additional 37 shares during the period. Summit Place Financial Advisors LLC grew its holdings in shares of Lowe’s Companies by 2.8% during the 3rd quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after purchasing an additional 37 shares during the period. Clean Yield Group increased its position in shares of Lowe’s Companies by 2.4% during the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after purchasing an additional 38 shares during the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its holdings in Lowe’s Companies by 0.5% in the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after buying an additional 40 shares during the period. Finally, Drive Wealth Management LLC lifted its position in Lowe’s Companies by 2.2% in the second quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after buying an additional 41 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Sanford C. Bernstein lowered their target price on Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating for the company in a report on Wednesday, November 20th. Truist Financial raised their price objective on shares of Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. UBS Group increased their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $277.92.

Lowe’s Companies Price Performance

NYSE LOW opened at $274.48 on Wednesday. Lowe’s Companies, Inc. has a 12 month low of $196.32 and a 12 month high of $287.01. The company has a market capitalization of $155.71 billion, a price-to-earnings ratio of 22.89, a price-to-earnings-growth ratio of 2.31 and a beta of 1.10. The firm’s fifty day moving average price is $269.47 and its 200 day moving average price is $245.47.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.68%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is 38.37%.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction 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 sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The transaction was disclosed in a document filed 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 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% 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.