Taylor Hoffman Wealth Management Sells 999 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Taylor Hoffman Wealth Management lessened its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 23.0% in the third quarter, HoldingsChannel reports. The firm owned 3,353 shares of the home improvement retailer’s stock after selling 999 shares during the period. Taylor Hoffman Wealth Management’s holdings in Lowe’s Companies were worth $369,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Atwater Malick LLC acquired a new position in Lowe’s Companies in the third quarter valued at about $26,000. Next Capital Management LLC acquired a new position in Lowe’s Companies in the second quarter valued at about $27,000. Pearl River Capital LLC acquired a new position in Lowe’s Companies in the second quarter valued at about $29,000. Knuff & Co LLC acquired a new position in Lowe’s Companies in the second quarter valued at about $29,000. Finally, Ossiam acquired a new position in Lowe’s Companies in the second quarter valued at about $31,000. Institutional investors and hedge funds own 76.35% of the company’s stock.

In related news, CAO Matthew V. Hollifield sold 12,136 shares of the company’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $112.34, for a total transaction of $1,363,358.24. Following the sale, the chief accounting officer now owns 28,017 shares in the company, valued at $3,147,429.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Jennifer L. Weber sold 12,589 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $112.62, for a total value of $1,417,773.18. Following the sale, the executive vice president now owns 17,440 shares in the company, valued at approximately $1,964,092.80. The disclosure for this sale can be found here. Corporate insiders own 0.07% of the company’s stock.

LOW has been the subject of a number of research analyst reports. UBS Group boosted their target price on Lowe’s Companies from $125.00 to $130.00 and gave the company a “buy” rating in a research note on Monday, October 28th. Telsey Advisory Group boosted their target price on Lowe’s Companies from $116.00 to $120.00 and gave the company an “outperform” rating in a research note on Thursday, August 22nd. Wolfe Research cut Lowe’s Companies from an “outperform” rating to a “market perform” rating and set a $118.00 target price for the company. in a research note on Tuesday, October 8th. Piper Jaffray Companies raised Lowe’s Companies from a “neutral” rating to an “overweight” rating and boosted their target price for the company from $113.00 to $130.00 in a research note on Tuesday, October 15th. Finally, Wedbush raised Lowe’s Companies from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $115.00 to $135.00 in a research note on Monday, September 16th. Six equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $123.20.

Shares of LOW stock traded up $1.40 on Friday, hitting $114.00. 2,748,129 shares of the stock were exchanged, compared to its average volume of 4,548,905. The company has a current ratio of 1.06, a quick ratio of 0.19 and a debt-to-equity ratio of 7.80. The firm has a market capitalization of $86.60 billion, a P/E ratio of 22.18, a price-to-earnings-growth ratio of 1.47 and a beta of 1.29. The business has a 50-day moving average of $110.71 and a 200 day moving average of $105.70. Lowe’s Companies, Inc. has a fifty-two week low of $84.75 and a fifty-two week high of $118.23.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Wednesday, August 21st. The home improvement retailer reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.15. The company had revenue of $20.99 billion during the quarter, compared to analysts’ expectations of $20.96 billion. Lowe’s Companies had a return on equity of 111.09% and a net margin of 3.52%. Lowe’s Companies’s revenue for the quarter was up .5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.07 earnings per share. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 5.67 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 1.93%. Lowe’s Companies’s dividend payout ratio is currently 42.80%.

Lowe’s Companies Company Profile

Lowe's Companies, Inc, together with its subsidiaries, operates as a home improvement retailer in the United States, Canada, and Mexico. The company offers a line of products for construction, maintenance, repair, remodeling, and decorating. It provides home improvement products in various categories, such as lumber and building materials, appliances, seasonal and outdoor living, tools and hardware, fashion fixtures, rough plumbing and electrical, paint, millwork, lawn and garden, flooring, and kitchens.

Read More: Example of operating income, EBIT and EBITDA

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Institutional Ownership by Quarter for Lowe`s Companies (NYSE:LOW)

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