Abacus Planning Group Inc. Sells 99 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Abacus Planning Group Inc. lowered its position in Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 2,853 shares of the home improvement retailer’s stock after selling 99 shares during the period. Abacus Planning Group Inc.’s holdings in Lowe’s Companies were worth $644,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Missouri Trust & Investment Co boosted its holdings in Lowe’s Companies by 1.5% in the 4th quarter. Missouri Trust & Investment Co now owns 3,360 shares of the home improvement retailer’s stock worth $669,000 after buying an additional 50 shares during the period. Key Client Fiduciary Advisors LLC boosted its holdings in Lowe’s Companies by 2.5% in the 1st quarter. Key Client Fiduciary Advisors LLC now owns 2,047 shares of the home improvement retailer’s stock worth $409,000 after buying an additional 50 shares during the period. Legacy Financial Advisors Inc. boosted its holdings in Lowe’s Companies by 2.6% in the 1st quarter. Legacy Financial Advisors Inc. now owns 1,993 shares of the home improvement retailer’s stock worth $399,000 after buying an additional 50 shares during the period. Summit X LLC boosted its holdings in Lowe’s Companies by 3.6% in the 1st quarter. Summit X LLC now owns 1,427 shares of the home improvement retailer’s stock worth $285,000 after buying an additional 50 shares during the period. Finally, Transform Wealth LLC boosted its holdings in Lowe’s Companies by 0.3% in the 1st quarter. Transform Wealth LLC now owns 16,932 shares of the home improvement retailer’s stock worth $3,386,000 after buying an additional 51 shares during the period. Institutional investors own 71.88% of the company’s stock.

Lowe’s Companies Trading Down 1.0 %

Shares of NYSE:LOW opened at $228.65 on Friday. The company has a market capitalization of $131.96 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 1.49 and a beta of 1.09. Lowe’s Companies, Inc. has a 12 month low of $176.50 and a 12 month high of $237.21. The firm’s 50-day moving average is $227.78 and its 200 day moving average is $213.26.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 22nd. The home improvement retailer reported $4.56 EPS for the quarter, beating the consensus estimate of $4.49 by $0.07. The company had revenue of $24.96 billion for the quarter, compared to the consensus estimate of $24.97 billion. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. The firm’s revenue was down 9.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.67 EPS. As a group, equities analysts forecast that Lowe’s Companies, Inc. will post 13.46 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be paid a $1.10 dividend. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $4.40 dividend on an annualized basis and a yield of 1.92%. Lowe’s Companies’s dividend payout ratio is currently 43.31%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the transaction, the executive vice president now directly owns 46,594 shares in the company, valued at approximately $10,368,562.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Lowe’s Companies news, EVP Joseph Michael Mcfarland sold 4,500 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the transaction, the executive vice president now directly owns 46,594 shares in the company, valued at approximately $10,368,562.82. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Janice Dupre sold 5,380 shares of the company’s stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the transaction, the executive vice president now owns 24,216 shares in the company, valued at $5,600,676.48. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on LOW shares. Barclays decreased their price target on shares of Lowe’s Companies from $215.00 to $212.00 in a research note on Wednesday, May 24th. TD Cowen boosted their price target on shares of Lowe’s Companies from $225.00 to $230.00 and gave the stock a “market perform” rating in a research note on Wednesday, August 23rd. Stifel Nicolaus started coverage on shares of Lowe’s Companies in a research note on Wednesday, September 6th. They issued a “buy” rating and a $270.00 price target on the stock. Loop Capital boosted their price target on shares of Lowe’s Companies from $215.00 to $225.00 and gave the stock a “hold” rating in a research note on Wednesday, August 23rd. Finally, Guggenheim boosted their price target on shares of Lowe’s Companies from $240.00 to $250.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $237.48.

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.