Insider Selling: Lowe’s Companies (NYSE:LOW) CEO Sells $4,701,060.00 in Stock

Lowe’s Companies, Inc. (NYSE:LOW) CEO Marvin Ellison sold 18,000 shares of the business’s stock in a transaction that occurred on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the sale, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at approximately $60,341,500.31. The trade was a 7.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Lowe’s Companies Stock Performance

Shares of LOW opened at $275.03 on Thursday. The firm has a market cap of $154.28 billion, a PE ratio of 22.81, a PEG ratio of 4.55 and a beta of 0.96. Lowe’s Companies, Inc. has a twelve month low of $206.38 and a twelve month high of $278.10. The firm’s 50 day moving average price is $243.23 and its 200 day moving average price is $243.78.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The business had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. During the same quarter last year, the firm earned $2.89 EPS. Lowe’s Companies’s revenue for the quarter was up 3.2% on a year-over-year basis. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st will be issued a dividend of $1.20 per share. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. Lowe’s Companies’s dividend payout ratio is currently 39.80%.

Institutional Trading of Lowe’s Companies

Hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Lowe’s Companies during the second quarter valued at about $1,773,624,000. Wellington Management Group LLP grew its position in Lowe’s Companies by 102.0% during the third quarter. Wellington Management Group LLP now owns 4,204,311 shares of the home improvement retailer’s stock worth $1,056,585,000 after buying an additional 2,122,622 shares in the last quarter. Victory Capital Management Inc. increased its stake in Lowe’s Companies by 207.2% during the third quarter. Victory Capital Management Inc. now owns 2,058,086 shares of the home improvement retailer’s stock valued at $517,218,000 after acquiring an additional 1,388,133 shares during the period. Tableaux LLC acquired a new position in Lowe’s Companies in the 2nd quarter valued at approximately $282,884,000. Finally, Laurel Wealth Advisors LLC lifted its position in shares of Lowe’s Companies by 22,167.5% in the 2nd quarter. Laurel Wealth Advisors LLC now owns 1,032,319 shares of the home improvement retailer’s stock worth $229,041,000 after acquiring an additional 1,027,683 shares during the period. 74.06% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on LOW shares. Bank of America decreased their target price on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Wolfe Research decreased their price objective on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, November 24th. Sanford C. Bernstein raised their target price on shares of Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Robert W. Baird dropped their target price on shares of Lowe’s Companies from $295.00 to $290.00 and set an “outperform” rating on the stock in a report on Thursday, November 20th. Finally, Stifel Nicolaus boosted their target price on shares of Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a research report on Monday, December 1st. Nineteen investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $279.35.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.