Dearborn Partners LLC Has $1.63 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Dearborn Partners LLC raised its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.3% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 6,024 shares of the home improvement retailer’s stock after acquiring an additional 138 shares during the quarter. Dearborn Partners LLC’s holdings in Lowe’s Companies were worth $1,632,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CIBC Asset Management Inc boosted its holdings in Lowe’s Companies by 8.0% during the third quarter. CIBC Asset Management Inc now owns 83,918 shares of the home improvement retailer’s stock valued at $22,729,000 after acquiring an additional 6,232 shares during the period. Oak Harbor Wealth Partners LLC raised its stake in shares of Lowe’s Companies by 3.6% in the third quarter. Oak Harbor Wealth Partners LLC now owns 3,949 shares of the home improvement retailer’s stock valued at $1,070,000 after purchasing an additional 136 shares in the last quarter. Lifeworks Advisors LLC lifted its holdings in shares of Lowe’s Companies by 46.0% during the 3rd quarter. Lifeworks Advisors LLC now owns 1,754 shares of the home improvement retailer’s stock worth $475,000 after acquiring an additional 553 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its position in Lowe’s Companies by 5.9% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 15,840 shares of the home improvement retailer’s stock worth $4,290,000 after purchasing an additional 880 shares in the last quarter. Finally, Metis Global Partners LLC lifted its stake in Lowe’s Companies by 1.4% during the third quarter. Metis Global Partners LLC now owns 23,633 shares of the home improvement retailer’s stock worth $6,401,000 after purchasing an additional 320 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on the company. Bank of America increased their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. TD Cowen increased their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research note on Monday, October 28th. Stifel Nicolaus boosted their price objective on shares of Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Monday. Telsey Advisory Group upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $275.00 to $305.00 in a research report on Friday, November 8th. Finally, Truist Financial lifted their price target on shares of Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $273.84.

Insiders Place Their Bets

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s 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 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. This represents a 41.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 30.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Stock Down 0.7 %

Shares of NYSE LOW opened at $270.35 on Friday. The stock’s 50-day simple moving average is $266.16 and its two-hundred day simple moving average is $243.06. Lowe’s Companies, Inc. has a twelve month low of $196.23 and a twelve month high of $287.01. The firm has a market capitalization of $153.37 billion, a P/E ratio of 22.42, a P/E/G ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released 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. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the company posted $4.56 EPS. Lowe’s Companies’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

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.