CNB Bank Sells 557 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

by · The Cerbat Gem

CNB Bank decreased its position in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 23.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,847 shares of the home improvement retailer’s stock after selling 557 shares during the quarter. CNB Bank’s holdings in Lowe’s Companies were worth $431,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in LOW. Norges Bank bought a new position in shares of Lowe’s Companies in the 4th quarter worth about $1,842,954,000. Kovitz Investment Group Partners LLC increased its stake in shares of Lowe’s Companies by 350.2% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 2,373,460 shares of the home improvement retailer’s stock valued at $585,770,000 after purchasing an additional 1,846,315 shares in the last quarter. GAMMA Investing LLC lifted its holdings in shares of Lowe’s Companies by 26,796.0% during the first quarter. GAMMA Investing LLC now owns 1,657,332 shares of the home improvement retailer’s stock valued at $386,540,000 after purchasing an additional 1,651,170 shares during the last quarter. Raymond James Financial Inc. bought a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $314,435,000. Finally, Northern Trust Corp boosted its position in shares of Lowe’s Companies by 16.3% in the 4th quarter. Northern Trust Corp now owns 7,074,391 shares of the home improvement retailer’s stock worth $1,745,960,000 after purchasing an additional 993,833 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently weighed in on LOW shares. Telsey Advisory Group reaffirmed an “outperform” rating and set a $305.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, May 21st. Wall Street Zen upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Tuesday, April 15th. DA Davidson dropped their price target on shares of Lowe’s Companies from $270.00 to $240.00 and set a “neutral” rating on the stock in a research note on Thursday, May 22nd. Citigroup restated a “neutral” rating and set a $253.00 price objective (down from $269.00) on shares of Lowe’s Companies in a research note on Wednesday, May 14th. Finally, Stifel Nicolaus decreased their target price on shares of Lowe’s Companies from $250.00 to $240.00 and set a “hold” rating for the company in a report on Tuesday, May 27th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and seventeen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.12.

Get Our Latest Stock Report on Lowe’s Companies

Insider Activity

In other news, EVP Juliette Williams Pryor sold 1,130 shares of Lowe’s Companies stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $227.50, for a total transaction of $257,075.00. Following the transaction, the executive vice president now directly owns 31,898 shares of the company’s stock, valued at $7,256,795. The trade was a 3.42% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.27% of the company’s stock.

Lowe’s Companies Stock Performance

LOW stock opened at $221.47 on Friday. The business’s 50-day moving average is $223.08 and its two-hundred day moving average is $236.58. The company has a market cap of $124.12 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 2.09 and a beta of 0.92. Lowe’s Companies, Inc. has a fifty-two week low of $206.39 and a fifty-two week high of $287.01.

Lowe’s Companies (NYSE:LOW – Get Free Report) last issued its quarterly earnings data on Wednesday, May 21st. The home improvement retailer reported $2.92 earnings per share for the quarter, topping the consensus estimate of $2.88 by $0.04. The firm had revenue of $20.93 billion for the quarter, compared to analysts’ expectations of $21.09 billion. Lowe’s Companies had a net margin of 8.22% and a negative return on equity of 49.12%. The business’s quarterly revenue was down 2.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.06 EPS. Equities analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 6th. Stockholders of record on Wednesday, July 23rd will be paid a dividend of $1.20 per share. This represents a $4.80 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, July 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $1.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.11%.

Lowe’s Companies 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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