Tompkins Financial Corp Trims Position in Lowe’s Companies, Inc. (NYSE:LOW)

Tompkins Financial Corp trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 17.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,619 shares of the home improvement retailer’s stock after selling 955 shares during the period. Tompkins Financial Corp’s holdings in Lowe’s Companies were worth $1,043,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in LOW. Morgan Stanley grew its holdings in Lowe’s Companies by 21.3% during the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock worth $2,329,237,000 after acquiring an additional 2,050,089 shares during the period. Norges Bank purchased a new stake in Lowe’s Companies during the fourth quarter worth $1,461,267,000. Moneta Group Investment Advisors LLC boosted its holdings in Lowe’s Companies by 107,710.7% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock worth $1,012,147,000 after buying an additional 5,075,327 shares in the last quarter. Providence Capital Advisors LLC grew its position in Lowe’s Companies by 19,964.5% during the first quarter. Providence Capital Advisors LLC now owns 4,520,122 shares of the home improvement retailer’s stock valued at $22,604,000 after buying an additional 4,497,594 shares during the period. Finally, Ameriprise Financial Inc. increased its holdings in Lowe’s Companies by 0.9% in the first quarter. Ameriprise Financial Inc. now owns 3,734,142 shares of the home improvement retailer’s stock valued at $740,949,000 after buying an additional 32,129 shares in the last quarter. 71.88% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Janice Dupre sold 5,380 shares of the company’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 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Joseph Michael Mcfarland sold 4,500 shares of Lowe’s Companies stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 46,594 shares in the company, valued at $10,368,562.82. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Janice Dupre sold 5,380 shares of the stock in a transaction that occurred 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 sale, 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. 0.24% of the stock is currently owned by corporate insiders.

Lowe’s Companies Trading Down 1.0 %

LOW stock traded down $2.12 during midday trading on Tuesday, hitting $215.60. 794,320 shares of the company’s stock were exchanged, compared to its average volume of 2,821,843. Lowe’s Companies, Inc. has a 1-year low of $176.50 and a 1-year high of $237.21. The business has a 50-day simple moving average of $227.93 and a two-hundred day simple moving average of $213.68. The stock has a market capitalization of $124.42 billion, a PE ratio of 21.43, a P/E/G ratio of 1.43 and a beta of 1.09.

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. As a group, research 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. Stockholders of record on Wednesday, October 25th will be issued a $1.10 dividend. The ex-dividend date is Tuesday, October 24th. This represents a $4.40 annualized dividend and a dividend yield of 2.04%. Lowe’s Companies’s dividend payout ratio is currently 43.31%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on LOW. UBS Group increased their target price on shares of Lowe’s Companies from $250.00 to $265.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Truist Financial upped their target price on Lowe’s Companies from $249.00 to $256.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Thursday, August 24th. Argus upped their price objective on shares of Lowe’s Companies from $250.00 to $260.00 in a research report on Wednesday, July 12th. Finally, TD Cowen upped 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 report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target 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.