Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Frank Rimerman Advisors LLC

Frank Rimerman Advisors LLC grew its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 8.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,013 shares of the home improvement retailer’s stock after acquiring an additional 461 shares during the period. Frank Rimerman Advisors LLC’s holdings in Lowe’s Companies were worth $1,629,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of LOW. Smith Salley Wealth Management grew its stake in Lowe’s Companies by 8.6% in the 3rd quarter. Smith Salley Wealth Management now owns 123,014 shares of the home improvement retailer’s stock worth $33,318,000 after acquiring an additional 9,705 shares during the period. GHP Investment Advisors Inc. grew its stake in Lowe’s Companies by 4.7% in the 3rd quarter. GHP Investment Advisors Inc. now owns 1,062 shares of the home improvement retailer’s stock worth $288,000 after acquiring an additional 48 shares during the period. PFG Investments LLC grew its stake in Lowe’s Companies by 36.0% in the 3rd quarter. PFG Investments LLC now owns 14,637 shares of the home improvement retailer’s stock worth $3,964,000 after acquiring an additional 3,876 shares during the period. NorthCrest Asset Manangement LLC grew its stake in Lowe’s Companies by 1.0% in the 3rd quarter. NorthCrest Asset Manangement LLC now owns 95,315 shares of the home improvement retailer’s stock worth $25,816,000 after acquiring an additional 904 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in Lowe’s Companies by 19.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 61,683 shares of the home improvement retailer’s stock worth $16,478,000 after acquiring an additional 10,060 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $267.64 on Friday. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $287.01. The firm has a market capitalization of $151.83 billion, a P/E ratio of 22.19, a P/E/G ratio of 2.24 and a beta of 1.10. The company’s fifty day moving average price is $260.81 and its two-hundred day moving average price is $239.84.

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, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the business posted $4.56 EPS. The firm’s revenue was down 5.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.72%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 38.14%.

Insider Activity

In other 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 value of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other 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 value of $1,684,262.58. Following the sale, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. 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 company’s stock in a transaction dated Wednesday, October 2nd. The shares were 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analysts Forecast Growth

LOW has been the subject of several recent analyst reports. Bank of America lifted their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Melius Research initiated coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective for the company. JPMorgan Chase & Co. lowered their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Finally, Piper Sandler boosted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. 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 an average price target of $270.60.

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.