Grandfield & Dodd LLC Sells 300 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

20 Nov 2024, 11:24 by Scott Moore · The Cerbat Gem

Grandfield & Dodd LLC lowered its position in Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 13.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,994 shares of the home improvement retailer’s stock after selling 300 shares during the period. Grandfield & Dodd LLC’s holdings in Lowe’s Companies were worth $540,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Stephens Consulting LLC grew its position in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the last quarter. JNBA Financial Advisors boosted its stake in shares of Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 100 shares during the period. MFA Wealth Advisors LLC grew its holdings in shares of Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares during the last quarter. Kimelman & Baird LLC purchased a new position in Lowe’s Companies in the 2nd quarter worth about $37,000. Finally, Tsfg LLC increased its stake in Lowe’s Companies by 128.2% in the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 100 shares during the period. Institutional investors own 74.06% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated 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 sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Analyst Ratings Changes

LOW has been the topic of a number of research analyst reports. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. TD Cowen increased their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research note on Monday, October 28th. Gordon Haskett reduced their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Telsey Advisory Group reiterated an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Tuesday. Finally, Truist Financial increased their price target on Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $273.84.

Read Our Latest Research Report on LOW

Lowe’s Companies Trading Down 4.6 %

Shares of LOW opened at $259.23 on Wednesday. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The stock has a fifty day moving average price of $267.97 and a 200-day moving average price of $244.23. The firm 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 – Get Free Report) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the company earned $4.56 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, research analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

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

About Lowe’s Companies

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