Summit Place Financial Advisors LLC Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Summit Place Financial Advisors LLC increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.8% in the third quarter, according to its most recent filing with the SEC. The fund owned 1,375 shares of the home improvement retailer’s stock after acquiring an additional 37 shares during the period. Summit Place Financial Advisors LLC’s holdings in Lowe’s Companies were worth $372,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Miracle Mile Advisors LLC boosted its position in Lowe’s Companies by 11.0% in the 1st quarter. Miracle Mile Advisors LLC now owns 4,757 shares of the home improvement retailer’s stock valued at $1,212,000 after buying an additional 473 shares during the period. Claro Advisors LLC raised its holdings in shares of Lowe’s Companies by 16.2% in the first quarter. Claro Advisors LLC now owns 1,739 shares of the home improvement retailer’s stock valued at $443,000 after acquiring an additional 243 shares in the last quarter. Park Place Capital Corp grew its holdings in Lowe’s Companies by 106.7% during the 1st quarter. Park Place Capital Corp now owns 1,356 shares of the home improvement retailer’s stock worth $345,000 after acquiring an additional 700 shares in the last quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH increased its position in Lowe’s Companies by 2.4% during the 1st quarter. FARMERS & MERCHANTS TRUST Co OF LONG BEACH now owns 11,847 shares of the home improvement retailer’s stock valued at $3,018,000 after purchasing an additional 273 shares during the period. Finally, Cullinan Associates Inc. raised its holdings in shares of Lowe’s Companies by 7.2% in the 1st quarter. Cullinan Associates Inc. now owns 103,802 shares of the home improvement retailer’s stock valued at $26,441,000 after purchasing an additional 6,943 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of NYSE LOW opened at $270.35 on Monday. The firm has a market cap of $154.05 billion, a PE ratio of 21.55, a PEG ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $183.79 and a one year high of $287.01. The firm has a fifty day moving average of $260.81 and a 200 day moving average of $239.86.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (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 company had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the firm posted $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a $1.15 dividend. 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 1.70%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is currently 36.95%.

Analysts Set New Price Targets

A number of brokerages recently commented on LOW. UBS Group boosted their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Evercore ISI raised their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research report on Wednesday, August 21st. Telsey Advisory Group increased their price target on shares of Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Finally, Truist Financial increased their price objective on Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a report on Monday, October 14th. Eleven investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $271.60.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 in the company, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. 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 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 directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by 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.