Somerset Group LLC Sells 300 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Somerset Group LLC trimmed its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 6.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,306 shares of the home improvement retailer’s stock after selling 300 shares during the quarter. Somerset Group LLC’s holdings in Lowe’s Companies were worth $972,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Modera Wealth Management LLC lifted its stake in shares of 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 valued at $71,964,000 after buying an additional 303,575 shares in the last quarter. Nwam LLC lifted its stake in shares of Lowe’s Companies by 115.6% during the 2nd quarter. Nwam LLC now owns 6,475 shares of the home improvement retailer’s stock valued at $1,462,000 after buying an additional 3,472 shares in the last quarter. Ellenbecker Investment Group lifted its stake in Lowe’s Companies by 5.1% in the 2nd quarter. Ellenbecker Investment Group now owns 1,790 shares of the home improvement retailer’s stock worth $404,000 after purchasing an additional 87 shares in the last quarter. GHE LLC lifted its stake in Lowe’s Companies by 0.5% in the 2nd quarter. GHE LLC now owns 24,122 shares of the home improvement retailer’s stock worth $5,444,000 after purchasing an additional 115 shares in the last quarter. Finally, Achmea Investment Management B.V. lifted its stake in Lowe’s Companies by 24.2% in 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 purchasing an additional 20,664 shares in the last quarter. 71.88% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, EVP Janice Dupre sold 5,380 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $231.28, for a total value of $1,244,286.40. Following the completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Joseph Michael Mcfarland sold 4,500 shares of the firm’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 completion of 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 transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Janice Dupre sold 5,380 shares of the firm’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 sale, the executive vice president now directly owns 24,216 shares of the company’s stock, 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 Upgrades and Downgrades

Several analysts have issued reports on the stock. Guggenheim increased their target price 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. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Thursday, November 16th. Truist Financial lowered their target price on shares of Lowe’s Companies from $256.00 to $235.00 and set a “buy” rating on the stock in a research note on Thursday, October 5th. Telsey Advisory Group reissued a “market perform” rating and issued a $225.00 price target on shares of Lowe’s Companies in a report on Tuesday. Finally, TD Cowen increased 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 report on Wednesday, August 23rd. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $242.32.

Lowe’s Companies Price Performance

Lowe’s Companies stock traded down $5.58 during trading hours on Tuesday, reaching $198.86. The stock had a trading volume of 2,819,064 shares, compared to its average volume of 2,795,412. The stock has a market cap of $114.76 billion, a PE ratio of 19.54, a PEG ratio of 1.34 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. The company has a fifty day simple moving average of $201.37 and a 200-day simple moving average of $213.30.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, November 21st. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.02 by $0.04. The business had revenue of $20.74 billion for the quarter, compared to analyst estimates of $20.87 billion. Lowe’s Companies had a net margin of 6.48% and a negative return on equity of 58.56%. The company’s revenue was down 11.7% on a year-over-year basis. During the same quarter last year, the firm earned $3.27 EPS. Research analysts predict that Lowe’s Companies, Inc. will post 13.31 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, February 7th. Shareholders of record on Wednesday, January 24th will be issued a $1.10 dividend. This represents a $4.40 dividend on an annualized basis and a yield of 2.21%. The ex-dividend date is Tuesday, January 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 43.31%.

Lowe’s Companies 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.