Trustmark National Bank Trust Department Lowers Position in Lowe’s Companies, Inc. (NYSE:LOW)

Trustmark National Bank Trust Department cut its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 57.1% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,503 shares of the home improvement retailer’s stock after selling 1,999 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Lowe’s Companies were worth $339,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Modera Wealth Management LLC lifted its stake in Lowe’s Companies by 1,987.7% during the 2nd quarter. Modera Wealth Management LLC now owns 318,848 shares of the home improvement retailer’s stock worth $71,964,000 after acquiring an additional 303,575 shares in the last quarter. Nwam LLC lifted its stake in Lowe’s Companies by 115.6% during the 2nd quarter. Nwam LLC now owns 6,475 shares of the home improvement retailer’s stock worth $1,462,000 after acquiring an additional 3,472 shares in the last quarter. Ellenbecker Investment Group lifted its stake in Lowe’s Companies by 5.1% during the 2nd quarter. Ellenbecker Investment Group now owns 1,790 shares of the home improvement retailer’s stock worth $404,000 after acquiring an additional 87 shares in the last quarter. GHE LLC lifted its stake in Lowe’s Companies by 0.5% during the 2nd quarter. GHE LLC now owns 24,122 shares of the home improvement retailer’s stock worth $5,444,000 after acquiring an additional 115 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its stake in Lowe’s Companies by 24.2% during the 2nd quarter. Achmea Investment Management B.V. now owns 106,106 shares of the home improvement retailer’s stock worth $23,949,000 after acquiring an additional 20,664 shares in the last quarter. 71.88% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LOW shares. HSBC started coverage on Lowe’s Companies in a research report on Friday, September 22nd. They issued a “hold” rating and a $250.00 price target on the stock. Morgan Stanley increased their price target on Lowe’s Companies from $235.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 23rd. Evercore ISI reduced 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. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $225.00 price target on shares of Lowe’s Companies in a research report on Wednesday. Finally, Robert W. Baird increased 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. Twelve equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, Lowe’s Companies currently has an average rating of “Moderate Buy” and an average price target of $242.32.

Insider Buying and Selling 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 transaction, 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 document filed with the Securities & Exchange Commission, which can be accessed 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 on Monday, August 28th. The stock was sold at an average price of $222.53, for a total transaction of $1,001,385.00. Following the transaction, the executive vice president now owns 46,594 shares of the company’s stock, valued at approximately $10,368,562.82. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 value of $1,244,286.40. Following the transaction, the executive vice president now directly owns 24,216 shares in the company, valued at approximately $5,600,676.48. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $203.70 on Friday. The business’s 50-day simple moving average is $201.92 and its 200-day simple moving average is $213.23. The firm has a market capitalization of $117.56 billion, a PE ratio of 20.05, a PEG ratio of 1.36 and a beta of 1.07. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 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 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 business had revenue of $24.96 billion for the quarter, compared to analyst estimates of $24.97 billion. During the same period in the previous year, the company posted $4.67 earnings per share. The firm’s revenue for the quarter was down 9.2% on a year-over-year basis. Research analysts forecast that Lowe’s Companies, Inc. will post 13.31 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be issued a dividend of $1.10 per share. This represents a $4.40 dividend on an annualized basis and a yield of 2.16%. The ex-dividend date is Tuesday, January 23rd. Lowe’s Companies’s payout ratio is 43.31%.

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.