CNB Bank Has $910,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

CNB Bank cut its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 26.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,359 shares of the home improvement retailer’s stock after selling 1,195 shares during the period. CNB Bank’s holdings in Lowe’s Companies were worth $910,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of LOW. Park Avenue Securities LLC boosted its stake in shares of Lowe’s Companies by 8.9% during the 1st quarter. Park Avenue Securities LLC now owns 11,948 shares of the home improvement retailer’s stock worth $3,043,000 after acquiring an additional 980 shares during the period. MJP Associates Inc. ADV bought a new position in Lowe’s Companies during the first quarter worth $206,000. Ballentine Partners LLC boosted its position in Lowe’s Companies by 8.2% during the first quarter. Ballentine Partners LLC now owns 9,625 shares of the home improvement retailer’s stock worth $2,452,000 after purchasing an additional 729 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Lowe’s Companies in the first quarter valued at $51,000. Finally, Financial Synergies Wealth Advisors Inc. raised its position in shares of Lowe’s Companies by 7,142.9% in the first quarter. Financial Synergies Wealth Advisors Inc. now owns 507 shares of the home improvement retailer’s stock valued at $129,000 after purchasing an additional 500 shares during the period. 74.06% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Gordon Haskett reduced their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Royal Bank of Canada decreased their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Bank of America increased their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a research note on Wednesday, October 9th. Finally, Truist Financial increased their price objective on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research report on Monday, October 14th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $268.42.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction 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 owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated Thursday, September 12th. The stock was 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Lowe’s Companies Stock Performance

Shares of LOW opened at $281.64 on Friday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $287.01. The firm has a market cap of $160.49 billion, a price-to-earnings ratio of 22.62, a PEG ratio of 2.28 and a beta of 1.10. The business’s fifty day moving average is $257.37 and its 200-day moving average is $238.77.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $4.56 earnings per share. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.63%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

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.