Busey Bank Sells 1,709 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Busey Bank lessened its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 108,415 shares of the home improvement retailer’s stock after selling 1,709 shares during the period. Lowe’s Companies accounts for 1.0% of Busey Bank’s holdings, making the stock its 24th biggest holding. Busey Bank’s holdings in Lowe’s Companies were worth $29,364,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of LOW. MFA Wealth Advisors LLC lifted its stake in 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 valued at $35,000 after buying an additional 70 shares during the period. Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter valued at $35,000. Stephens Consulting LLC increased its stake in shares of 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 in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the 2nd quarter valued at $37,000. Finally, Tsfg LLC boosted its stake in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Bank of America upped their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Piper Sandler upped their price target on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Royal Bank of Canada cut their price target 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. Wells Fargo & Company lowered their target price on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Finally, Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and lifted their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Eleven research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $270.60.

Lowe’s Companies Stock Up 0.5 %

LOW stock opened at $271.36 on Friday. The firm has a market cap of $154.63 billion, a PE ratio of 21.80, a P/E/G ratio of 2.28 and a beta of 1.10. The business has a 50 day moving average of $259.66 and a 200-day moving average of $239.47. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced 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. The firm had revenue of $23.59 billion during 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% on a year-over-year basis. During the same quarter in the prior year, the company earned $4.56 EPS. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors 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 yield of 1.70%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Insiders Place Their Bets

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on 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 in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.