Pointe Capital Management LLC Purchases 78 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Pointe Capital Management LLC lifted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 4.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,995 shares of the home improvement retailer’s stock after purchasing an additional 78 shares during the quarter. Pointe Capital Management LLC’s holdings in Lowe’s Companies were worth $540,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. MFA Wealth Advisors LLC increased its holdings in shares of 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 worth $35,000 after purchasing an additional 70 shares during the last quarter. Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies in the first quarter worth about $35,000. Stephens Consulting LLC increased its holdings in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Kimelman & Baird LLC bought a new stake in shares of Lowe’s Companies in the second quarter worth about $37,000. Finally, Tsfg LLC increased its stake in Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after acquiring an additional 100 shares during the last quarter. 74.06% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on LOW shares. JPMorgan Chase & Co. reduced their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Piper Sandler boosted their price objective on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Gordon Haskett reduced their price objective on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $270.60.

Insider Buying and Selling

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. 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 company insiders.

Lowe’s Companies Trading Down 1.4 %

Shares of LOW traded down $3.72 during midday trading on Friday, hitting $267.64. 1,788,117 shares of the company’s stock traded hands, compared to its average volume of 2,447,013. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $287.01. The firm’s fifty day moving average is $260.81 and its 200-day moving average is $239.84. The stock has a market capitalization of $151.83 billion, a price-to-earnings ratio of 22.19, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data 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 negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the prior year, the business posted $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced 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 a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.72%. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

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.