Everence Capital Management Inc. Sells 5,750 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Everence Capital Management Inc. lessened its stake in shares of Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 23.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 18,549 shares of the home improvement retailer's stock after selling 5,750 shares during the period. Everence Capital Management Inc.'s holdings in Lowe's Companies were worth $5,024,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in LOW. Vanguard Group Inc. increased its stake in shares of Lowe's Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer's stock worth $13,677,378,000 after purchasing an additional 2,674,372 shares in the last quarter. Strategic Financial Concepts LLC lifted its position in Lowe's Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer's stock valued at $2,657,000 after purchasing an additional 1,199,100 shares during the last quarter. M&G Plc bought a new stake in Lowe's Companies during the first quarter valued at approximately $217,995,000. Price T Rowe Associates Inc. MD lifted its position in Lowe's Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer's stock valued at $468,884,000 after purchasing an additional 493,180 shares during the last quarter. Finally, Marshall Wace LLP lifted its position in Lowe's Companies by 170.5% during the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer's stock valued at $162,178,000 after purchasing an additional 463,645 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company's stock.

Lowe's Companies Price Performance

Lowe's Companies stock traded down $4.80 during mid-day trading on Monday, reaching $276.84. 2,390,313 shares of the company traded hands, compared to its average volume of 2,450,546. The firm's 50 day moving average price is $258.29 and its 200 day moving average price is $239.03. The firm has a market capitalization of $157.75 billion, a price-to-earnings ratio of 22.24, a P/E/G ratio of 2.28 and a beta of 1.10. Lowe's Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 in the previous year, the firm earned $4.56 EPS. The company's quarterly revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Lowe's Companies, Inc. will post 11.91 EPS for the current year.

Lowe's Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.66%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a boost from Lowe's Companies's previous quarterly dividend of $0.15. Lowe's Companies's payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on LOW shares. StockNews.com upgraded shares of Lowe's Companies from a "hold" rating to a "buy" rating in a research report on Wednesday, September 18th. Evercore ISI boosted their price objective on shares of Lowe's Companies from $225.00 to $250.00 and gave the stock an "in-line" rating in a report on Wednesday, August 21st. Melius Research assumed coverage on shares of Lowe's Companies in a report on Monday, September 23rd. They issued a "buy" rating and a $290.00 price objective for the company. Telsey Advisory Group boosted their price objective on shares of Lowe's Companies from $230.00 to $275.00 and gave the stock a "market perform" rating in a report on Wednesday, October 2nd. Finally, Wedbush restated a "neutral" rating and issued a $250.00 price objective on shares of Lowe's Companies in a report on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $268.42.

Insider Activity

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business's stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, EVP Margrethe R. Vagell sold 5,730 shares of the company's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

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.