SouthState Corp Sells 9,051 Shares of Lowe's Companies, Inc. (NYSE:LOW)

SouthState Corp reduced its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 26.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 25,354 shares of the home improvement retailer's stock after selling 9,051 shares during the quarter. SouthState Corp's holdings in Lowe's Companies were worth $6,867,000 at the end of the most recent reporting period.

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

Lowe's Companies Price Performance

Shares of LOW traded down $12.51 during trading hours on Tuesday, hitting $259.26. 4,204,955 shares of the company were exchanged, compared to its average volume of 2,448,556. The firm has a fifty day simple moving average of $267.74 and a 200-day simple moving average of $244.04. The company has a market capitalization of $147.08 billion, a PE ratio of 21.63, a PEG ratio of 2.21 and a beta of 1.10. Lowe's Companies, Inc. has a one year low of $196.23 and a one year high of $287.01.

Lowe's Companies (NYSE:LOW - Get Free Report) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe's Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business's revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.56 EPS. Sell-side analysts expect that Lowe's Companies, Inc. will post 11.93 EPS for the current year.

Lowe's Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were paid a $1.15 dividend. This is a positive change from Lowe's Companies's previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. 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 currently 38.14%.

Insider Buying and Selling at Lowe's Companies

In other Lowe's Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe's Companies stock in a transaction on Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company's stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their position. The sale was disclosed in a filing 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 on 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 directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on LOW. Bank of America increased their price objective on shares of Lowe's Companies from $275.00 to $305.00 and gave the company a "buy" rating in a research note on Friday, October 11th. Sanford C. Bernstein assumed coverage on shares of Lowe's Companies in a research note on Tuesday, October 22nd. They set an "outperform" rating and a $323.00 price objective for the company. Royal Bank of Canada lowered their target price on Lowe's Companies from $245.00 to $238.00 and set a "sector perform" rating on the stock in a report on Wednesday, August 21st. Morgan Stanley boosted their price target on Lowe's Companies from $250.00 to $255.00 and gave the stock an "overweight" rating in a report on Wednesday, August 21st. Finally, Stifel Nicolaus increased their price objective on Lowe's Companies from $250.00 to $260.00 and gave the company a "hold" rating in a research note on Monday, November 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Lowe's Companies currently has an average rating of "Moderate Buy" and a consensus price target of $273.84.

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.