Lowe’s Companies (NYSE:LOW) CEO Marvin Ellison Sells 18,000 Shares

Lowe’s Companies, Inc. (NYSE:LOW) CEO Marvin Ellison sold 18,000 shares of the company’s stock in a transaction on Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the transaction, the chief executive officer directly owned 231,043 shares in the company, valued at approximately $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Lowe’s Companies Stock Performance

LOW stock traded up $3.72 during trading on Monday, reaching $270.93. 3,269,401 shares of the company were exchanged, compared to its average volume of 2,992,643. The stock’s 50 day moving average price is $240.98 and its 200 day moving average price is $242.85. Lowe’s Companies, Inc. has a 52-week low of $206.38 and a 52-week high of $274.98. The company has a market cap of $151.98 billion, a P/E ratio of 22.47, a PEG ratio of 4.43 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. The company had revenue of $20.81 billion during the quarter, compared to analysts’ expectations of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The firm’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the company posted $2.89 earnings per share. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be issued a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 annualized dividend and a yield of 1.8%. Lowe’s Companies’s dividend payout ratio is 39.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in LOW. Waterloo Capital L.P. lifted its stake in shares of Lowe’s Companies by 1.2% in the 2nd quarter. Waterloo Capital L.P. now owns 3,455 shares of the home improvement retailer’s stock valued at $767,000 after purchasing an additional 41 shares in the last quarter. TruWealth Advisors LLC raised its holdings in Lowe’s Companies by 2.7% in the third quarter. TruWealth Advisors LLC now owns 1,580 shares of the home improvement retailer’s stock valued at $397,000 after buying an additional 42 shares during the period. Cypress Wealth Services LLC lifted its position in Lowe’s Companies by 2.0% during the third quarter. Cypress Wealth Services LLC now owns 2,191 shares of the home improvement retailer’s stock valued at $551,000 after buying an additional 42 shares in the last quarter. Hidden Cove Wealth Management LLC grew its stake in Lowe’s Companies by 4.6% during the third quarter. Hidden Cove Wealth Management LLC now owns 960 shares of the home improvement retailer’s stock worth $241,000 after buying an additional 42 shares during the period. Finally, Roble Belko & Company Inc grew its stake in Lowe’s Companies by 21.4% during the third quarter. Roble Belko & Company Inc now owns 250 shares of the home improvement retailer’s stock worth $63,000 after buying an additional 44 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on LOW shares. Bank of America decreased their price objective on shares of Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating on the stock in a research report on Thursday, November 20th. Wolfe Research cut their target price on shares of Lowe’s Companies from $308.00 to $285.00 and set an “outperform” rating for the company in a research report on Monday, November 24th. Evercore ISI reiterated a “positive” rating on shares of Lowe’s Companies in a research report on Thursday, November 20th. Sanford C. Bernstein upped their price objective on Lowe’s Companies from $282.00 to $284.00 and gave the company an “outperform” rating in a research report on Thursday, November 20th. Finally, Barclays upgraded shares of Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 target price on the stock in a report on Wednesday, January 7th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $277.52.

Lowe’s Companies Company Profile

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.