Lake Street Advisors Group LLC Raises Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Lake Street Advisors Group LLC boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 7.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,626 shares of the home improvement retailer’s stock after purchasing an additional 657 shares during the quarter. Lake Street Advisors Group LLC’s holdings in Lowe’s Companies were worth $2,607,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of LOW. Bamco Inc. NY increased its holdings in shares of Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after purchasing an additional 20,181 shares during the last quarter. Plato Investment Management Ltd increased its holdings in shares of Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after purchasing an additional 5,470 shares during the last quarter. Lincoln National Corp increased its holdings in shares of Lowe’s Companies by 1.5% in the first quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer’s stock valued at $2,835,000 after purchasing an additional 169 shares during the last quarter. Daymark Wealth Partners LLC increased its holdings in shares of Lowe’s Companies by 12.7% in the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after purchasing an additional 2,889 shares during the last quarter. Finally, AMF Tjanstepension AB increased its holdings in shares of Lowe’s Companies by 14.4% in the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after purchasing an additional 20,123 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Down 0.5 %

Shares of LOW stock traded down $1.24 on Friday, reaching $270.12. 181,222 shares of the stock were exchanged, compared to its average volume of 2,439,251. The firm has a 50 day moving average of $259.66 and a two-hundred day moving average of $239.47. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $287.01. The stock has a market cap of $153.92 billion, a P/E ratio of 21.80, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate 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 company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter last year, the business earned $4.56 earnings per share. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. On average, equities research analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date 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%.

Insider Buying and Selling

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 stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $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 can be accessed through this hyperlink. In other news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 completion of the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on LOW. Truist Financial raised their target price on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research note on Monday, October 14th. Wells Fargo & Company dropped their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Melius Research started coverage on Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price for the company. Royal Bank of Canada decreased their target price on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Finally, Wedbush reiterated a “neutral” rating and issued a $250.00 target price on shares of Lowe’s Companies in a report on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $270.60.

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.