Citizens Financial Group Inc. RI Has $5.62 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Citizens Financial Group Inc. RI lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 6.2% during the third quarter, HoldingsChannel reports. The fund owned 20,757 shares of the home improvement retailer’s stock after purchasing an additional 1,219 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Lowe’s Companies were worth $5,622,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bamco Inc. NY lifted its holdings in shares of Lowe’s Companies by 10.3% during the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after buying an additional 20,181 shares during the last quarter. Plato Investment Management Ltd raised its position in Lowe’s Companies by 655.9% during 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 acquiring an additional 5,470 shares in the last quarter. HM Payson & Co. lifted its stake in Lowe’s Companies by 1.1% in the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after acquiring an additional 2,322 shares during the last quarter. Daymark Wealth Partners LLC grew its position in 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 worth $5,637,000 after acquiring an additional 2,889 shares in the last quarter. Finally, AMF Tjanstepension AB raised its holdings in shares of Lowe’s Companies by 14.4% during the 3rd 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 in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on LOW. Truist Financial upped their price objective on shares of Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Wedbush reiterated a “neutral” rating and set a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective for the company. Finally, Morgan Stanley boosted their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $277.92.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Up 0.9 %

NYSE LOW opened at $265.50 on Friday. Lowe’s Companies, Inc. has a twelve month low of $196.23 and a twelve month high of $287.01. The stock has a market cap of $150.62 billion, a P/E ratio of 22.14, a PEG ratio of 2.15 and a beta of 1.10. The company’s 50-day simple moving average is $268.56 and its 200 day simple moving average is $244.50.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the company posted $4.56 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. Research analysts anticipate that Lowe’s Companies, Inc. will post 11.82 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.73%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 38.37%.

Lowe’s Companies Company 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.