Prio Wealth Limited Partnership Purchases 350 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Prio Wealth Limited Partnership raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,764 shares of the home improvement retailer’s stock after purchasing an additional 350 shares during the period. Prio Wealth Limited Partnership’s holdings in Lowe’s Companies were worth $1,491,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Cannon Financial Strategists Inc. bought a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $218,000. Heritage Wealth Management Inc. bought a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $227,000. Sanctuary Advisors LLC bought a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $38,904,000. Brown Financial Advisors bought a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $1,238,000. Finally, Strategic Investment Solutions Inc. IL bought a new stake in shares of Lowe’s Companies in the second quarter valued at approximately $67,000. Institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on LOW. Piper Sandler boosted their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. TD Cowen upped their target price on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a report on Thursday, September 19th. UBS Group upped their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Finally, Loop Capital upped their target price on shares of Lowe’s Companies from $230.00 to $250.00 and gave the stock a “hold” rating in a report on Wednesday. Twelve analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $263.54.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $271.97 on Thursday. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $274.16. The stock has a market capitalization of $154.98 billion, a price-to-earnings ratio of 21.84, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The company has a fifty day moving average of $248.33 and a 200-day moving average of $236.73.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the prior year, the company earned $4.56 EPS. The firm’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The company 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 dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.69%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.26% of the stock is currently owned by corporate 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.