Successful Portfolios LLC Purchases Shares of 840 Lowe’s Companies, Inc. (NYSE:LOW)

Successful Portfolios LLC purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 840 shares of the home improvement retailer’s stock, valued at approximately $228,000.

Several other hedge funds have also modified their holdings of the company. Towerpoint Wealth LLC acquired a new position in shares of Lowe’s Companies during the third quarter valued at about $201,000. Watts Gwilliam & Co. LLC acquired a new position in shares of Lowe’s Companies during the third quarter valued at about $232,000. Pinnacle Bancorp Inc. increased its holdings in shares of Lowe’s Companies by 5.7% during the third quarter. Pinnacle Bancorp Inc. now owns 3,720 shares of the home improvement retailer’s stock valued at $1,008,000 after acquiring an additional 200 shares in the last quarter. Selective Wealth Management Inc. increased its holdings in shares of Lowe’s Companies by 2.2% during the third quarter. Selective Wealth Management Inc. now owns 5,067 shares of the home improvement retailer’s stock valued at $1,385,000 after acquiring an additional 109 shares in the last quarter. Finally, Capital Insight Partners LLC increased its holdings in Lowe’s Companies by 3.6% in the 3rd quarter. Capital Insight Partners LLC now owns 5,304 shares of the home improvement retailer’s stock worth $1,437,000 after buying an additional 184 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on LOW shares. Wells Fargo & Company cut their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. UBS Group increased their target price on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report 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 report on Wednesday, August 21st. JPMorgan Chase & Co. decreased their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Finally, Telsey Advisory Group raised their price objective on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a report on Wednesday, October 2nd. Eleven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average target price of $265.63.

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred 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 approximately $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Lowe’s Companies Price Performance

Shares of LOW stock traded up $2.59 during trading hours on Friday, reaching $275.80. 288,875 shares of the stock were exchanged, compared to its average volume of 2,459,716. The business’s fifty day moving average is $252.10 and its two-hundred day moving average is $237.64. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $278.10. The firm has a market capitalization of $156.46 billion, a P/E ratio of 22.65, a P/E/G ratio of 2.28 and a beta of 1.10.

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. 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 period in the prior year, the firm earned $4.56 earnings per share. The business’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.67%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio 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.