Waypoint Capital Advisors LLC Increases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Waypoint Capital Advisors LLC lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,780 shares of the home improvement retailer’s stock after purchasing an additional 91 shares during the quarter. Waypoint Capital Advisors LLC’s holdings in Lowe’s Companies were worth $753,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Park Avenue Securities LLC grew its stake in Lowe’s Companies by 8.9% during the first quarter. Park Avenue Securities LLC now owns 11,948 shares of the home improvement retailer’s stock valued at $3,043,000 after acquiring an additional 980 shares in the last quarter. MJP Associates Inc. ADV purchased a new position in shares of Lowe’s Companies during the 1st quarter valued at $206,000. Ballentine Partners LLC increased its holdings in shares of Lowe’s Companies by 8.2% in the first quarter. Ballentine Partners LLC now owns 9,625 shares of the home improvement retailer’s stock worth $2,452,000 after purchasing an additional 729 shares during the period. Northwest Investment Counselors LLC purchased a new stake in shares of Lowe’s Companies in the first quarter worth $51,000. Finally, Financial Synergies Wealth Advisors Inc. boosted its stake in Lowe’s Companies by 7,142.9% during the first quarter. Financial Synergies Wealth Advisors Inc. now owns 507 shares of the home improvement retailer’s stock valued at $129,000 after buying an additional 500 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 0.1 %

Shares of NYSE:LOW opened at $281.64 on Friday. The company has a market cap of $160.49 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $287.01. The company has a 50-day moving average price of $257.37 and a 200-day moving average price of $238.77.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data 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. 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 analysts’ expectations of $23.93 billion. During the same quarter last year, the business posted $4.56 EPS. The business’s revenue was down 5.5% on a year-over-year basis. As a group, research analysts forecast 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. Shareholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. 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 yield of 1.63%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 36.95%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on LOW. Wells Fargo & Company decreased their target price on 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. Telsey Advisory Group upped their price objective on shares of Lowe’s Companies from $230.00 to $275.00 and gave the stock a “market perform” rating in a research report on Wednesday, October 2nd. Piper Sandler lifted their target price 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, September 30th. Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target on the stock. Finally, Truist Financial lifted their price objective on shares of Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a report on Monday, October 14th. Eleven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $268.42.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated 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 sale, the chief accounting officer now 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Lowe’s Companies 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 value of $1,555,408.50. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.