Ignite Planners LLC Trims Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Ignite Planners LLC lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 15.0% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,284 shares of the home improvement retailer’s stock after selling 402 shares during the quarter. Ignite Planners LLC’s holdings in Lowe’s Companies were worth $507,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. Missouri Trust & Investment Co raised its holdings in shares of Lowe’s Companies by 1.5% during the fourth quarter. Missouri Trust & Investment Co now owns 3,360 shares of the home improvement retailer’s stock worth $669,000 after purchasing an additional 50 shares during the last quarter. Key Client Fiduciary Advisors LLC boosted its stake in shares of Lowe’s Companies by 2.5% in the first 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 last quarter. Legacy Financial Advisors Inc. grew its holdings in Lowe’s Companies by 2.6% during the first quarter. Legacy Financial Advisors Inc. now owns 1,993 shares of the home improvement retailer’s stock worth $399,000 after acquiring an additional 50 shares during the period. Summit X LLC raised its position in Lowe’s Companies by 3.6% during the first quarter. Summit X LLC now owns 1,427 shares of the home improvement retailer’s stock valued at $285,000 after acquiring an additional 50 shares in the last quarter. Finally, Transform Wealth LLC boosted its position 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 purchasing an additional 51 shares in the last quarter. 71.88% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

LOW has been the subject of several analyst reports. Morgan Stanley boosted their target price on shares of Lowe’s Companies from $235.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 23rd. Citigroup increased their target price on shares of Lowe’s Companies from $221.00 to $250.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 2nd. The Goldman Sachs Group reduced their price target on Lowe’s Companies from $260.00 to $252.00 and set a “buy” rating for the company in a report on Tuesday, August 22nd. Evercore ISI dropped their price objective on Lowe’s Companies from $240.00 to $235.00 and set an “in-line” rating on the stock in a report on Friday, September 8th. Finally, Sanford C. Bernstein raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $252.00 to $282.00 in a research note on Tuesday, September 5th. Two research 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. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $237.48.

Lowe’s Companies Trading Down 0.3 %

Lowe’s Companies stock traded down $0.60 during mid-day trading on Monday, hitting $219.42. The company’s stock had a trading volume of 885,179 shares, compared to its average volume of 2,819,281. The stock’s fifty day moving average is $227.93 and its two-hundred day moving average is $213.68. The firm has a market capitalization of $126.63 billion, a PE ratio of 21.60, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09. Lowe’s Companies, Inc. has a 1 year low of $176.50 and a 1 year high of $237.21.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $4.49 by $0.07. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The firm had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.97 billion. During the same period last year, the company earned $4.67 EPS. The company’s quarterly revenue was down 9.2% on a year-over-year basis. On average, equities analysts expect that Lowe’s Companies, Inc. will post 13.45 EPS for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 8th. Investors of record on Wednesday, October 25th will be given a dividend of $1.10 per share. The ex-dividend date of this dividend is Tuesday, October 24th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.01%. Lowe’s Companies’s payout ratio is currently 43.31%.

Insider Activity at Lowe’s Companies

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

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.