Grove Bank & Trust Increases Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Grove Bank & Trust lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 5.1% in the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,684 shares of the home improvement retailer’s stock after purchasing an additional 130 shares during the quarter. Grove Bank & Trust’s holdings in Lowe’s Companies were worth $727,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Voisard Asset Management Group Inc. purchased a new position in Lowe’s Companies during the 4th quarter valued at $28,000. Raleigh Capital Management Inc. raised its position in Lowe’s Companies by 48.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 183 shares of the home improvement retailer’s stock valued at $41,000 after purchasing an additional 60 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Lowe’s Companies during the 4th quarter valued at about $62,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies during the 4th quarter valued at about $31,000. Finally, Creekmur Asset Management LLC purchased a new stake in Lowe’s Companies during the 4th quarter valued at about $121,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other 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 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 this link. In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s 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 sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. 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 can be accessed through the SEC website. 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 completion of the sale, 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 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Lowe’s Companies Stock Performance

Shares of LOW traded up $3.63 during midday trading on Monday, hitting $279.39. 514,811 shares of the stock were exchanged, compared to its average volume of 2,455,019. Lowe’s Companies, Inc. has a 52-week low of $181.85 and a 52-week high of $279.72. The stock has a fifty day simple moving average of $252.80 and a 200 day simple moving average of $237.58. The firm has a market cap of $159.21 billion, a P/E ratio of 22.24, a P/E/G ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS 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 analyst estimates of $23.93 billion. During the same period last year, the business posted $4.56 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This is a boost 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 1.65%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Analyst Ratings Changes

Several analysts have weighed in on LOW shares. JPMorgan Chase & Co. dropped their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. TD Cowen upped their target price on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Royal Bank of Canada lowered their price target on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Finally, Truist Financial increased their price target on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a research report on Monday. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $268.42.

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.