Principal Street Partners LLC Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Principal Street Partners LLC increased its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 33.6% in the third quarter, HoldingsChannel.com reports. The firm owned 5,211 shares of the home improvement retailer’s stock after acquiring an additional 1,311 shares during the quarter. Principal Street Partners LLC’s holdings in Lowe’s Companies were worth $1,411,000 as of its most recent SEC filing.

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

Lowe’s Companies Trading Down 1.0 %

Shares of Lowe’s Companies stock opened at $272.64 on Tuesday. The company has a 50-day moving average of $269.11 and a two-hundred day moving average of $245.19. The stock has a market cap of $154.67 billion, a PE ratio of 22.96, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $196.32 and a 12-month high of $287.01.

Lowe’s Companies Increases Dividend

The company 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. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.69%. Lowe’s Companies’s dividend payout ratio is 38.37%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Wedbush reaffirmed a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Loop Capital upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Royal Bank of Canada upped their price target on shares of Lowe’s Companies from $290.00 to $291.00 and gave the company a “sector perform” rating in a research report on Wednesday, November 20th. Truist Financial upped their target price on shares of Lowe’s Companies from $307.00 to $310.00 and gave the company a “buy” rating in a report on Wednesday, November 20th. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $277.92.

Insider Activity

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 completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their position. The transaction 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 that occurred on Thursday, September 12th. The shares were sold at an average price of $248.82, for a total transaction 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 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.

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.