Lowe’s Companies, Inc. (NYSE:LOW) Stock Holdings Lifted by Studio Investment Management LLC

Studio Investment Management LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 6.5% during the third quarter, Holdings Channel reports. The fund owned 4,362 shares of the home improvement retailer’s stock after acquiring an additional 265 shares during the quarter. Studio Investment Management LLC’s holdings in Lowe’s Companies were worth $1,181,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in LOW. Crew Capital Management Ltd. raised its stake in Lowe’s Companies by 1.0% during the 3rd quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after purchasing an additional 37 shares during the period. Summit Place Financial Advisors LLC grew its holdings in shares of Lowe’s Companies by 2.8% during the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock valued at $372,000 after buying an additional 37 shares in the last quarter. Clean Yield Group grew its holdings in shares of Lowe’s Companies by 2.4% during the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after buying an additional 38 shares in the last quarter. Mitchell Mcleod Pugh & Williams Inc. raised its position in Lowe’s Companies by 0.5% during the third quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after buying an additional 40 shares during the period. Finally, Drive Wealth Management LLC lifted its stake in Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 41 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

LOW has been the topic of several research analyst reports. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Melius Research assumed coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Truist Financial increased their target price on shares of Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a research report on Wednesday. Sanford C. Bernstein lowered their price target on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating on the stock in a report on Wednesday. Finally, Wells Fargo & Company increased their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and a consensus target price of $277.92.

Insiders Place Their Bets

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred 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 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 trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 0.9 %

NYSE:LOW opened at $265.50 on Friday. The firm has a market capitalization of $150.62 billion, a PE ratio of 22.14, a PEG ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $196.23 and a 1 year high of $287.01. The firm’s fifty day simple moving average is $268.56 and its 200 day simple moving average is $244.50.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.55% and a net margin of 8.19%. The company had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the business posted $4.56 earnings per share. The firm’s revenue was down 5.5% compared to the same quarter last year. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 11.82 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. Shareholders of record on Wednesday, October 23rd were issued a $1.15 dividend. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.73%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Lowe’s Companies 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.