Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Private Client Services LLC

Private Client Services LLC lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 7.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,181 shares of the home improvement retailer’s stock after buying an additional 78 shares during the period. Private Client Services LLC’s holdings in Lowe’s Companies were worth $320,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after buying an additional 2,674,372 shares during the period. Legal & General Group Plc boosted its holdings in Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after purchasing an additional 82,978 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Lowe’s Companies by 1.9% in the fourth quarter. Schroder Investment Management Group now owns 2,851,127 shares of the home improvement retailer’s stock valued at $634,518,000 after purchasing an additional 52,859 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its holdings in Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after purchasing an additional 493,180 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings in Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after purchasing an additional 90,945 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

LOW opened at $270.30 on Friday. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $274.16. The stock has a market cap of $154.03 billion, a P/E ratio of 21.71, a P/E/G ratio of 2.15 and a beta of 1.10. The stock’s 50 day moving average price is $249.04 and its 200 day moving average price is $236.96.

Lowe’s Companies (NYSE:LOW) last posted its 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 negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the firm earned $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. Lowe’s Companies’s dividend payout ratio (DPR) is 36.95%.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Morgan Stanley increased their price target on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Truist Financial upped their price objective on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Piper Sandler upped their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. cut their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Finally, Melius Research initiated coverage on Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Twelve analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $263.54.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated 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 transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated 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 owns 13,214 shares in the company, valued at approximately $3,586,940.30. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.