Oppenheimer Asset Management Inc. Has $39.35 Million Position in Lowe’s Companies, Inc. (NYSE:LOW)

Oppenheimer Asset Management Inc. boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 0.1% during the third quarter, Holdings Channel reports. The institutional investor owned 145,273 shares of the home improvement retailer’s stock after purchasing an additional 115 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in Lowe’s Companies were worth $39,347,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. GHE LLC lifted its stake in Lowe’s Companies by 0.8% in the third quarter. GHE LLC now owns 24,485 shares of the home improvement retailer’s stock valued at $6,582,000 after acquiring an additional 184 shares during the last quarter. Pinnacle Financial Partners Inc increased its position in Lowe’s Companies by 2.2% during the third quarter. Pinnacle Financial Partners Inc now owns 17,967 shares of the home improvement retailer’s stock worth $4,866,000 after buying an additional 384 shares during the last quarter. Victory Capital Management Inc. raised its stake in Lowe’s Companies by 10.9% in the third quarter. Victory Capital Management Inc. now owns 536,533 shares of the home improvement retailer’s stock valued at $145,320,000 after buying an additional 52,856 shares during the period. Aptus Capital Advisors LLC boosted its stake in shares of Lowe’s Companies by 18.4% during the 3rd quarter. Aptus Capital Advisors LLC now owns 93,213 shares of the home improvement retailer’s stock worth $25,247,000 after acquiring an additional 14,519 shares during the period. Finally, Prime Capital Investment Advisors LLC increased its holdings in shares of Lowe’s Companies by 2.4% during the 3rd quarter. Prime Capital Investment Advisors LLC now owns 16,894 shares of the home improvement retailer’s stock worth $4,576,000 after acquiring an additional 401 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE:LOW traded up $3.10 during mid-day trading on Wednesday, hitting $273.00. The company had a trading volume of 264,997 shares, compared to its average volume of 2,433,644. The company has a market capitalization of $154.87 billion, a PE ratio of 22.37, a price-to-earnings-growth ratio of 2.26 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $196.23 and a one year high of $287.01. The firm has a fifty day moving average price of $265.62 and a 200 day moving average price of $242.85.

Lowe’s Companies (NYSE:LOW) last released 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 the consensus estimate of $23.93 billion. During the same quarter in the previous year, the company posted $4.56 earnings per share. The company’s quarterly revenue was down 5.5% on a year-over-year basis. Research analysts expect that Lowe’s Companies, Inc. will post 11.92 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.68%. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 38.14%.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 sale, the executive vice president now owns 13,214 shares of the company’s stock, 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 Analyst Weigh In

LOW has been the subject of a number of research analyst reports. Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 21st. Evercore ISI increased their target price on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 21st. StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Piper Sandler raised 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. Finally, Gordon Haskett decreased their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies 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.