Quent Capital LLC Purchases 1,274 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Quent Capital LLC boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 36.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,782 shares of the home improvement retailer’s stock after purchasing an additional 1,274 shares during the quarter. Quent Capital LLC’s holdings in Lowe’s Companies were worth $1,293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Voisard Asset Management Group Inc. bought a new position in shares of Lowe’s Companies in the 4th quarter worth about $28,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies in the fourth quarter worth about $31,000. Stephens Consulting LLC increased its stake in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares in the last quarter. Keener Financial Planning LLC bought a new position in shares of Lowe’s Companies during the first quarter valued at approximately $35,000. Finally, Kimelman & Baird LLC purchased a new position in shares of Lowe’s Companies during the second quarter valued at approximately $37,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of a number of analyst reports. Bank of America reduced their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research report on Wednesday, August 21st. Royal Bank of Canada lowered their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Wells Fargo & Company dropped their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. UBS Group raised their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Finally, Truist Financial upped their target price on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Twelve research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $263.54.

Lowe’s Companies Price Performance

Shares of LOW traded down $2.45 on Friday, reaching $267.76. The company’s stock had a trading volume of 2,245,752 shares, compared to its average volume of 2,478,539. The stock’s 50 day simple moving average is $249.61 and its two-hundred day simple moving average is $237.13. The stock has a market capitalization of $152.58 billion, a P/E ratio of 21.51, a PEG ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $274.16.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same quarter last year, the company posted $4.56 EPS. Analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.72%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Insider Transactions at Lowe’s Companies

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