Fulton Breakefield Broenniman LLC Decreases Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Fulton Breakefield Broenniman LLC decreased its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 111,948 shares of the home improvement retailer’s stock after selling 1,557 shares during the period. Lowe’s Companies accounts for about 2.1% of Fulton Breakefield Broenniman LLC’s holdings, making the stock its 16th biggest position. Fulton Breakefield Broenniman LLC’s holdings in Lowe’s Companies were worth $30,321,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its stake in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the last quarter. Strategic Financial Concepts LLC raised its stake in shares of Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares during the period. M&G Plc purchased a new position in shares of Lowe’s Companies during the 1st quarter valued at $217,995,000. Price T Rowe Associates Inc. MD lifted its position in shares of Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after buying an additional 493,180 shares during the last quarter. Finally, Marshall Wace LLP grew its stake in shares of Lowe’s Companies by 170.5% during the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after acquiring an additional 463,645 shares during the period. 74.06% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

LOW has been the subject of several recent research reports. TD Cowen lifted their target price on shares of Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research note on Thursday, September 19th. Bank of America boosted their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Truist Financial raised their price target on Lowe’s Companies from $269.00 to $306.00 and gave the stock a “buy” rating in a report on Monday. Royal Bank of Canada decreased their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Finally, StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Eleven research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $268.42.

Lowe’s Companies Stock Up 0.8 %

Shares of LOW stock opened at $284.05 on Thursday. The firm has a market cap of $161.86 billion, a P/E ratio of 22.82, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The business has a 50-day moving average price of $255.56 and a two-hundred day moving average price of $238.28. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month 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 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.56 EPS. As a group, research analysts expect that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.62%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 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 transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred 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 sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was 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, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This 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 corporate 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.