First Citizens Bank & Trust Co. Has $5.69 Million Holdings in Lowe’s Companies, Inc. $LOW

First Citizens Bank & Trust Co. trimmed its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 45.9% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 22,657 shares of the home improvement retailer’s stock after selling 19,206 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Lowe’s Companies were worth $5,694,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. SeaBridge Investment Advisors LLC lifted its position in shares of Lowe’s Companies by 3.7% during the second quarter. SeaBridge Investment Advisors LLC now owns 12,888 shares of the home improvement retailer’s stock worth $2,859,000 after purchasing an additional 465 shares in the last quarter. QRG Capital Management Inc. increased its holdings in shares of Lowe’s Companies by 2.6% in the second quarter. QRG Capital Management Inc. now owns 154,692 shares of the home improvement retailer’s stock valued at $34,322,000 after purchasing an additional 3,947 shares in the last quarter. Facet Wealth Inc. bought a new position in Lowe’s Companies in the 3rd quarter worth approximately $558,000. First Pacific Financial lifted its holdings in Lowe’s Companies by 147.3% during the 2nd quarter. First Pacific Financial now owns 2,752 shares of the home improvement retailer’s stock worth $611,000 after buying an additional 1,639 shares in the last quarter. Finally, Prudential Financial Inc. lifted its holdings in Lowe’s Companies by 0.7% during the 2nd quarter. Prudential Financial Inc. now owns 826,356 shares of the home improvement retailer’s stock worth $183,344,000 after buying an additional 5,820 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.5%

NYSE:LOW opened at $276.46 on Friday. Lowe’s Companies, Inc. has a 1-year low of $206.38 and a 1-year high of $281.36. The business’s 50-day moving average price is $249.28 and its two-hundred day moving average price is $246.21. The firm has a market capitalization of $155.08 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 4.59 and a beta of 0.96.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.09. The company had revenue of $20.81 billion during the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a negative return on equity of 55.86% and a net margin of 8.05%.The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company earned $2.89 EPS. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current year.

Lowe’s Companies Announces Dividend

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 paid a $1.20 dividend. This represents a $4.80 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend is Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is presently 39.80%.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. Gordon Haskett raised Lowe’s Companies from a “hold” rating to a “buy” rating and set a $325.00 target price for the company in a research note on Tuesday, January 13th. DA Davidson decreased their price target on Lowe’s Companies from $266.00 to $250.00 and set a “neutral” rating on the stock in a report on Thursday, November 20th. UBS Group decreased their price target on Lowe’s Companies from $325.00 to $316.00 and set a “buy” rating on the stock in a report on Thursday, November 20th. Barclays raised Lowe’s Companies from an “equal weight” rating to an “overweight” rating and set a $285.00 price objective for the company in a report on Wednesday, January 7th. Finally, Jefferies Financial Group raised their target price on shares of Lowe’s Companies from $280.00 to $285.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Nineteen analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $283.65.

Insiders Place Their Bets

In other news, CEO Marvin R. Ellison sold 18,000 shares of Lowe’s Companies stock in a transaction on Friday, January 9th. The shares were 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 of the company’s stock, valued at $60,341,500.31. This trade represents a 7.23% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.27% of the company’s stock.

Lowe’s Companies 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.