Greenspring Advisors LLC Purchases New Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Greenspring Advisors LLC purchased a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 790 shares of the home improvement retailer’s stock, valued at approximately $214,000.

Other hedge funds have also recently bought and sold shares of the company. Bamco Inc. NY raised its holdings in Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock valued at $55,266,000 after buying an additional 20,181 shares during the period. Plato Investment Management Ltd grew its position in Lowe’s Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock valued at $1,606,000 after acquiring an additional 5,470 shares in the last quarter. Lincoln National Corp grew its position in Lowe’s Companies by 1.5% in the first quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer’s stock valued at $2,835,000 after acquiring an additional 169 shares in the last quarter. Daymark Wealth Partners LLC grew its position in Lowe’s Companies by 12.7% in the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares in the last quarter. Finally, AMF Tjanstepension AB grew its position in Lowe’s Companies by 14.4% in the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after acquiring an additional 20,123 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Performance

LOW stock opened at $267.64 on Monday. The stock has a market capitalization of $152.51 billion, a price-to-earnings ratio of 21.50, a PEG ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $287.01. The stock’s fifty day moving average is $260.81 and its two-hundred day moving average is $239.86.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period last year, the business posted $4.56 earnings per share. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. As a group, analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. 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. Lowe’s Companies’s payout ratio is currently 36.95%.

Insider Activity at Lowe’s Companies

In related news, 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 transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, 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 transaction of $1,555,408.50. Following the sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 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 ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Royal Bank of Canada lowered their price objective on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a research report on Wednesday, August 21st. Loop Capital raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price target for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Finally, Melius Research initiated coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $270.60.

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.