Lowe’s Companies, Inc. (NYSE:LOW) Shares Purchased by Montecito Bank & Trust

Montecito Bank & Trust increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 37.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 7,509 shares of the home improvement retailer’s stock after buying an additional 2,040 shares during the quarter. Montecito Bank & Trust’s holdings in Lowe’s Companies were worth $2,034,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the business. Stephens Consulting LLC raised its stake in shares of Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares during the last quarter. JNBA Financial Advisors raised its position in Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock valued at $32,000 after acquiring an additional 100 shares in the last quarter. MFA Wealth Advisors LLC lifted its holdings in Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares during the period. Kimelman & Baird LLC purchased a new stake in Lowe’s Companies in the 2nd quarter worth approximately $37,000. Finally, Tsfg LLC grew its stake in shares of Lowe’s Companies by 128.2% during the 3rd quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Lowe’s Companies Trading Down 2.8 %

Shares of NYSE LOW opened at $261.66 on Thursday. The stock has a market capitalization of $148.44 billion, a PE ratio of 21.70, a PEG ratio of 2.18 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $189.05 and a twelve month high of $287.01. The stock has a fifty day simple moving average of $263.77 and a 200-day simple moving average of $241.67.

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, beating the consensus estimate of $3.96 by $0.14. The company had revenue of $23.59 billion during 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%. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. During the same period in the previous year, the company posted $4.56 EPS. On average, equities analysts predict 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 declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.76%. Lowe’s Companies’s dividend payout ratio is 38.14%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 completion of the sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other Lowe’s Companies news, 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 transaction of $1,555,408.50. Following the transaction, 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction dated 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 $2,334,678.06. The trade was 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 corporate insiders.

Wall Street Analysts Forecast Growth

LOW has been the topic of a number of recent analyst reports. Morgan Stanley increased their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Wells Fargo & Company raised their target price on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday. Melius Research started coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target for the company. Bank of America lifted their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Finally, Evercore ISI boosted their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Eleven research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $272.20.

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.