Watts Gwilliam & Co. LLC Makes New Investment in Lowe’s Companies, Inc. (NYSE:LOW)

Watts Gwilliam & Co. LLC acquired a new position in Lowe’s Companies, Inc. (NYSE:LOW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 849 shares of the home improvement retailer’s stock, valued at approximately $232,000.

Several other hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. lifted its position in shares of Lowe’s Companies by 5.2% during the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after buying an additional 2,674,372 shares in the last quarter. Legal & General Group Plc lifted its position in shares of Lowe’s Companies by 1.6% during the 2nd 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 buying an additional 82,978 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Lowe’s Companies by 36.6% in the 1st 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 in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Lowe’s Companies by 6.0% in the 2nd 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 in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Lowe’s Companies by 11.1% in 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 in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW opened at $275.73 on Friday. Lowe’s Companies, Inc. has a 1-year low of $181.85 and a 1-year high of $278.10. The company has a market cap of $157.12 billion, a P/E ratio of 22.15, a P/E/G ratio of 2.28 and a beta of 1.10. The stock has a 50-day moving average of $252.80 and a two-hundred day moving average of $237.79.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $23.93 billion. During the same period in the previous year, the company posted $4.56 earnings per share. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed 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 of this dividend is Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.67%. Lowe’s Companies’s payout ratio is currently 36.95%.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, 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 trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. The trade was 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.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Morgan Stanley raised their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price objective for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Evercore ISI raised their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Wedbush restated a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price objective for the company from $250.00 to $300.00 in a report on Wednesday. Eleven research analysts have rated the stock with a hold rating and fourteen have given 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 a consensus price target of $266.88.

About Lowe’s Companies

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.