Iowa State Bank Raises Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Iowa State Bank boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 16,276 shares of the home improvement retailer’s stock after acquiring an additional 247 shares during the quarter. Iowa State Bank’s holdings in Lowe’s Companies were worth $4,408,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of LOW. TAP Consulting LLC lifted its holdings in Lowe’s Companies by 10.0% in the 3rd quarter. TAP Consulting LLC now owns 12,834 shares of the home improvement retailer’s stock worth $3,476,000 after buying an additional 1,163 shares during the period. LVW Advisors LLC lifted its holdings in Lowe’s Companies by 6.9% in the 3rd quarter. LVW Advisors LLC now owns 3,567 shares of the home improvement retailer’s stock worth $966,000 after buying an additional 229 shares during the period. Strong Tower Advisory Services lifted its holdings in Lowe’s Companies by 13.3% in the 3rd quarter. Strong Tower Advisory Services now owns 9,231 shares of the home improvement retailer’s stock worth $2,500,000 after buying an additional 1,083 shares during the period. Successful Portfolios LLC purchased a new stake in Lowe’s Companies in the 3rd quarter worth approximately $228,000. Finally, Towerpoint Wealth LLC purchased a new stake in Lowe’s Companies in the 3rd quarter worth approximately $201,000. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Lowe’s Companies Price Performance

LOW stock opened at $275.73 on Friday. The company has a market cap of $157.12 billion, a P/E ratio of 22.15, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $278.10. The stock’s fifty day moving average price is $252.80 and its 200-day moving average price is $237.79.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same period last year, the business posted $4.56 EPS. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors 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 annualized dividend and a yield of 1.67%. Lowe’s Companies’s payout ratio is 36.95%.

Wall Street Analyst Weigh In

Several research firms have weighed in on LOW. Royal Bank of Canada dropped their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and increased their target price for the stock from $250.00 to $300.00 in a research report on Wednesday. JPMorgan Chase & Co. decreased their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. UBS Group increased their target price on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Eleven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $266.88.

Insider Activity at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on 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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. 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 accessible through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 directly 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 disclosure for this sale can be found here. 0.26% of the stock is owned by company 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.