Mechanics Bank Trust Department Sells 235 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Mechanics Bank Trust Department decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 10,312 shares of the home improvement retailer’s stock after selling 235 shares during the period. Mechanics Bank Trust Department’s holdings in Lowe’s Companies were worth $2,327,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Ritter Daniher Financial Advisory LLC DE boosted its stake in Lowe’s Companies by 357.1% during the first quarter. Ritter Daniher Financial Advisory LLC DE now owns 128 shares of the home improvement retailer’s stock valued at $26,000 after buying an additional 100 shares during the period. Tanglewood Legacy Advisors LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $30,000. Grey Fox Wealth Advisors LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $31,000. Ruedi Wealth Management Inc. purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $32,000. Finally, Sanctuary Wealth Management L.L.C. purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $35,000. Institutional investors own 71.88% of the company’s stock.

Insider Transactions at Lowe’s Companies

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Robert W. Baird raised their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company an “outperform” rating in a research report on Tuesday, August 22nd. DA Davidson raised their price target on Lowe’s Companies from $228.00 to $237.00 in a research report on Wednesday, May 24th. TD Cowen raised their price target on Lowe’s Companies from $225.00 to $230.00 and gave the company a “market perform” rating in a research report on Wednesday, August 23rd. Evercore ISI lowered their price target on Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating on the stock in a research report on Friday, September 8th. Finally, Wedbush reiterated a “neutral” rating and issued a $230.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 23rd. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $237.48.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $220.02 on Friday. The stock’s 50 day simple moving average is $227.93 and its two-hundred day simple moving average is $213.55. The stock has a market cap of $126.98 billion, a price-to-earnings ratio of 21.66, a PEG ratio of 1.49 and a beta of 1.09. Lowe’s Companies, Inc. has a fifty-two week low of $176.50 and a fifty-two week high of $237.21.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, beating the consensus estimate of $4.49 by $0.07. The business had revenue of $24.96 billion for the quarter, compared to analysts’ expectations of $24.97 billion. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The business’s revenue was down 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $4.67 EPS. On average, analysts predict that Lowe’s Companies, Inc. will post 13.46 earnings per share for the current year.

Lowe’s Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Shareholders of record on Wednesday, October 25th will be given a dividend of $1.10 per share. The ex-dividend date is Tuesday, October 24th. This represents a $4.40 annualized dividend and a yield of 2.00%. Lowe’s Companies’s payout ratio is 43.31%.

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.