Steigerwald Gordon & Koch Inc. Raises Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Steigerwald Gordon & Koch Inc. grew its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,162 shares of the home improvement retailer’s stock after purchasing an additional 100 shares during the period. Steigerwald Gordon & Koch Inc.’s holdings in Lowe’s Companies were worth $315,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in LOW. Voisard Asset Management Group Inc. purchased a new position in shares of Lowe’s Companies during the fourth quarter valued at about $28,000. Transcendent Capital Group LLC bought a new position in shares of Lowe’s Companies in the 4th quarter valued at about $31,000. Stephens Consulting LLC lifted its holdings in shares of Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 70 shares during the last quarter. Keener Financial Planning LLC bought a new position in shares of Lowe’s Companies in the 1st quarter valued at about $35,000. Finally, Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies in the 2nd quarter valued at about $37,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded down $3.14 during mid-day trading on Thursday, reaching $274.04. 560,258 shares of the company were exchanged, compared to its average volume of 2,464,903. The business has a fifty day moving average of $251.46 and a 200 day moving average of $237.39. The firm has a market cap of $156.16 billion, a P/E ratio of 22.26, 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 $278.10.

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

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. 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 1.68%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on LOW. Truist Financial increased their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Piper Sandler raised their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Bank of America decreased their price objective on shares of Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. UBS Group upped their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. Finally, 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 research report on Wednesday, August 21st. Eleven investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $265.63.

Insiders Place Their Bets

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, 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 transaction of $1,684,262.58. Following the completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction 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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was 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 company insiders.

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.