Searle & CO. Has $320,000 Stake in Lowe’s Companies, Inc. (NYSE:LOW)

by · The Cerbat Gem

Searle & CO. lowered its position in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 4.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,182 shares of the home improvement retailer’s stock after selling 50 shares during the period. Searle & CO.’s holdings in Lowe’s Companies were worth $320,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of LOW. Vanguard Group Inc. boosted its stake in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after buying an additional 1,199,100 shares in the last quarter. M&G Plc bought a new stake in Lowe’s Companies during the 1st quarter worth about $217,995,000. Price T Rowe Associates Inc. MD increased its position in Lowe’s Companies by 36.6% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares in the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after acquiring an additional 463,645 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock traded down $1.41 during trading hours on Wednesday, hitting $270.81. The company’s stock had a trading volume of 522,832 shares, compared to its average volume of 2,444,543. The company has a market capitalization of $154.32 billion, a PE ratio of 21.73, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The stock has a 50 day moving average of $259.01 and a 200 day moving average of $239.26. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the company posted $4.56 EPS. Equities analysts expect that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analyst Ratings Changes

Several analysts have recently commented on LOW shares. Sanford C. Bernstein began coverage on shares of Lowe’s Companies in a research note on Tuesday. They set an “outperform” rating and a $323.00 price target on the stock. Melius Research initiated coverage on Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective on the stock. Gordon Haskett lowered their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Piper Sandler upped their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Wells Fargo & Company lowered their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $270.60.

View Our Latest Analysis on LOW

Lowe’s Companies Company Profile

(Free Report)

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.

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