Texas Capital Bank Wealth Management Services Inc Has $417,000 Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Texas Capital Bank Wealth Management Services Inc lifted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 19.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,891 shares of the home improvement retailer’s stock after buying an additional 312 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Lowe’s Companies were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of LOW. First County Bank CT raised its holdings in Lowe’s Companies by 3.0% in the 2nd quarter. First County Bank CT now owns 2,653 shares of the home improvement retailer’s stock worth $585,000 after acquiring an additional 78 shares during the period. Legal & General Group Plc increased its stake in shares of 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 worth $1,147,603,000 after purchasing an additional 82,978 shares during the period. Mackenzie Financial Corp lifted its position in shares of Lowe’s Companies by 12.0% during the 2nd quarter. Mackenzie Financial Corp now owns 140,661 shares of the home improvement retailer’s stock worth $31,010,000 after purchasing an additional 15,093 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in Lowe’s Companies by 11.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,499,015 shares of the home improvement retailer’s stock valued at $330,473,000 after purchasing an additional 149,649 shares during the period. Finally, MBB Public Markets I LLC grew its holdings in Lowe’s Companies by 2,861.2% in the 2nd quarter. MBB Public Markets I LLC now owns 40,568 shares of the home improvement retailer’s stock valued at $8,944,000 after buying an additional 39,198 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Lowe’s Companies Stock Up 0.6 %

NYSE:LOW opened at $267.13 on Friday. The firm has a market cap of $152.22 billion, a PE ratio of 21.46, a price-to-earnings-growth 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 $268.71. The company’s 50-day moving average price is $246.22 and its two-hundred day moving average price is $236.23.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates 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 business 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 earned $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

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

Insider Buying and Selling

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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.26% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on LOW. 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. 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. Morgan Stanley raised their price target 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. Gordon Haskett reduced their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. Finally, Telsey Advisory Group reissued a “market perform” rating and set a $230.00 target price on shares of Lowe’s Companies in a research report on Tuesday, August 20th. Eleven equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $258.13.

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.