Folger Nolan Fleming Douglas Capital Management Inc. Reduces Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Folger Nolan Fleming Douglas Capital Management Inc. decreased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.0% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 80,376 shares of the home improvement retailer’s stock after selling 2,498 shares during the period. Lowe’s Companies accounts for 2.2% of Folger Nolan Fleming Douglas Capital Management Inc.’s portfolio, making the stock its 7th largest position. Folger Nolan Fleming Douglas Capital Management Inc.’s holdings in Lowe’s Companies were worth $21,770,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Stephens Consulting LLC boosted its stake in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares in the last quarter. Keener Financial Planning LLC purchased a new stake in shares of Lowe’s Companies during the first quarter valued at approximately $35,000. MFA Wealth Advisors LLC increased its position in shares of Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares in the last quarter. Kimelman & Baird LLC purchased a new position in Lowe’s Companies in the 2nd quarter worth approximately $37,000. Finally, Tsfg LLC lifted its position in Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on LOW. Royal Bank of Canada reduced their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. TD Cowen boosted their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday. Evercore ISI raised their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Bank of America boosted their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Finally, Piper Sandler raised their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a report on Monday, September 30th. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.60.

Lowe’s Companies Trading Down 0.5 %

Shares of LOW opened at $261.54 on Thursday. The business’s 50 day moving average is $262.14 and its 200 day moving average is $240.45. Lowe’s Companies, Inc. has a 12-month low of $187.77 and a 12-month high of $287.01. The company has a market capitalization of $149.03 billion, a PE ratio of 21.01, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the business posted $4.56 earnings per share. Equities research analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.76%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 36.95%.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.