Verdence Capital Advisors LLC Has $1.53 Million Stake in Lowe’s Companies, Inc. $LOW

Verdence Capital Advisors LLC lifted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 55.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 6,287 shares of the home improvement retailer’s stock after acquiring an additional 2,240 shares during the quarter. Verdence Capital Advisors LLC’s holdings in Lowe’s Companies were worth $1,532,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in LOW. Tradewinds LLC. acquired a new position in shares of Lowe’s Companies in the third quarter valued at $531,000. Whelan Financial boosted its holdings in shares of Lowe’s Companies by 19.0% during the 3rd quarter. Whelan Financial now owns 9,640 shares of the home improvement retailer’s stock worth $2,423,000 after buying an additional 1,540 shares during the period. Allstate Corp bought a new stake in shares of Lowe’s Companies during the 3rd quarter worth about $5,063,000. NorthCrest Asset Manangement LLC grew its stake in Lowe’s Companies by 1.3% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 99,128 shares of the home improvement retailer’s stock valued at $23,780,000 after buying an additional 1,306 shares during the last quarter. Finally, CAP Partners LLC bought a new position in Lowe’s Companies in the 3rd quarter valued at about $209,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies 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 transaction, the chief executive officer directly owned 231,043 shares of the company’s stock, valued at $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Performance

LOW opened at $268.45 on Wednesday. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $278.44. The firm has a market cap of $150.58 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 4.60 and a beta of 0.96. The business’s fifty day moving average is $246.58 and its 200-day moving average is $245.27.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.97 by $0.09. The business had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. Lowe’s Companies’s revenue was up 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.89 earnings per share. On average, research analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The company also recently declared 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. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is 39.80%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Oppenheimer reduced their price objective on Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Sanford C. Bernstein boosted their price target on Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research note on Thursday, November 20th. Bank of America decreased their price objective on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. HSBC lowered their price objective on Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a research report on Friday, November 21st. Finally, Morgan Stanley boosted their target price on shares of Lowe’s Companies from $270.00 to $296.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. Nineteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and an average target price of $283.65.

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.