Ferguson Wellman Capital Management Inc. Has $1.01 Million Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Ferguson Wellman Capital Management Inc. lowered its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 30.7% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 3,737 shares of the home improvement retailer’s stock after selling 1,656 shares during the quarter. Ferguson Wellman Capital Management Inc.’s holdings in Lowe’s Companies were worth $1,012,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in shares of Lowe’s Companies by 1.4% in the 3rd quarter. Commonwealth Equity Services LLC now owns 424,382 shares of the home improvement retailer’s stock valued at $114,944,000 after buying an additional 5,832 shares during the period. Mitsubishi UFJ Asset Management UK Ltd. bought a new position in Lowe’s Companies in the third quarter valued at about $542,000. Alpha Financial Advisors LLC bought a new stake in Lowe’s Companies during the 3rd quarter worth about $215,000. ST Germain D J Co. Inc. lifted its position in Lowe’s Companies by 20.1% during the 3rd quarter. ST Germain D J Co. Inc. now owns 5,099 shares of the home improvement retailer’s stock valued at $1,381,000 after purchasing an additional 854 shares during the period. Finally, Raymond James & Associates boosted its stake in shares of Lowe’s Companies by 0.4% in the 3rd quarter. Raymond James & Associates now owns 774,555 shares of the home improvement retailer’s stock valued at $209,788,000 after purchasing an additional 3,249 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $281.64 on Friday. The firm has a market cap of $160.49 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The stock’s 50-day moving average is $257.37 and its 200-day moving average is $238.77. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion during 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 firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm earned $4.56 earnings per share. On average, 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 declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.63%. Lowe’s Companies’s payout ratio is 36.95%.

Analysts Set New Price Targets

A number of research firms recently weighed in on LOW. Melius Research initiated coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. JPMorgan Chase & Co. cut their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Wells Fargo & Company decreased their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Piper Sandler increased their target price 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, Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Eleven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $268.42.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred on 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 owns 9,383 shares in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred on 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 transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.