Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired 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 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,362 shares of the home improvement retailer’s stock after buying an additional 265 shares during the period. Studio Investment Management LLC’s holdings in Lowe’s Companies were worth $1,181,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Stonebridge Capital Advisors LLC increased its holdings in Lowe’s Companies by 18.6% during the 1st quarter. Stonebridge Capital Advisors LLC now owns 1,410 shares of the home improvement retailer’s stock worth $359,000 after purchasing an additional 221 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in Lowe’s Companies in the first quarter valued at $2,769,000. Truvestments Capital LLC boosted its stake in Lowe’s Companies by 14.5% during the 1st quarter. Truvestments Capital LLC now owns 931 shares of the home improvement retailer’s stock valued at $237,000 after acquiring an additional 118 shares during the last quarter. LRI Investments LLC acquired a new position in Lowe’s Companies during the 1st quarter worth $468,000. Finally, Kestra Advisory Services LLC grew its holdings in Lowe’s Companies by 6.5% during the 1st quarter. Kestra Advisory Services LLC now owns 65,131 shares of the home improvement retailer’s stock worth $16,591,000 after acquiring an additional 3,963 shares in the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW opened at $265.50 on Friday. The firm has a market capitalization of $150.62 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The stock’s fifty day moving average is $268.56 and its 200-day moving average is $244.50. Lowe’s Companies, Inc. has a one year low of $196.23 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter last year, the company earned $4.56 EPS. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. Analysts forecast that Lowe’s Companies, Inc. will post 11.82 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were given a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.73%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.37%.

Insider Transactions at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the 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 completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction on Thursday, September 12th. The stock was 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 owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on LOW. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Royal Bank of Canada increased their target price on Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a report on Wednesday. Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and boosted their price target for the company from $250.00 to $300.00 in a report on Wednesday, October 9th. TD Cowen upped their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Finally, Wells Fargo & Company lifted their price objective on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average target price of $277.92.

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.