Northwest Bancshares Inc. Sells 304 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Northwest Bancshares Inc. trimmed its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.1% during the third quarter, Holdings Channel.com reports. The fund owned 9,371 shares of the home improvement retailer’s stock after selling 304 shares during the quarter. Northwest Bancshares Inc.’s holdings in Lowe’s Companies were worth $2,538,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Strategy Asset Managers LLC increased its position in Lowe’s Companies by 8.8% during the third quarter. Strategy Asset Managers LLC now owns 1,689 shares of the home improvement retailer’s stock worth $457,000 after acquiring an additional 136 shares during the period. Prospera Private Wealth LLC increased its position in Lowe’s Companies by 40.2% during the third quarter. Prospera Private Wealth LLC now owns 1,283 shares of the home improvement retailer’s stock worth $348,000 after acquiring an additional 368 shares during the period. Premier Fund Managers Ltd increased its position in Lowe’s Companies by 1.6% during the third quarter. Premier Fund Managers Ltd now owns 275,438 shares of the home improvement retailer’s stock worth $73,575,000 after acquiring an additional 4,300 shares during the period. West Family Investments Inc. increased its position in Lowe’s Companies by 43.5% during the third quarter. West Family Investments Inc. now owns 1,583 shares of the home improvement retailer’s stock worth $429,000 after acquiring an additional 480 shares during the period. Finally, Second Half Financial Partners LLC bought a new position in Lowe’s Companies during the third quarter worth about $2,209,000. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Price Performance

NYSE:LOW opened at $259.23 on Wednesday. The firm’s 50 day simple moving average is $267.97 and its 200 day simple moving average is $244.23. Lowe’s Companies, Inc. has a one year low of $196.23 and a one year high of $287.01. The company has a market cap of $147.06 billion, a PE ratio of 21.50, a P/E/G ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last posted 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. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the company earned $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Equities research analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.77%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

Insiders Place Their Bets

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently commented on LOW shares. TD Cowen raised their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Melius Research started 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 objective on the stock. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. UBS Group increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group reiterated an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research note on Tuesday. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $273.84.

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.