Lowe’s Companies, Inc. (NYSE:LOW) Holdings Lifted by Arbor Investment Advisors LLC

Arbor Investment Advisors LLC lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1,705.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 20,875 shares of the home improvement retailer’s stock after purchasing an additional 19,719 shares during the period. Lowe’s Companies makes up about 0.7% of Arbor Investment Advisors LLC’s holdings, making the stock its 20th biggest position. Arbor Investment Advisors LLC’s holdings in Lowe’s Companies were worth $5,654,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of LOW. Vanguard Group Inc. increased its stake in shares of Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after buying an additional 2,674,372 shares in the last quarter. Legal & General Group Plc increased its position in shares of Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Lowe’s Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after acquiring an additional 2,027,668 shares during the period. Price T Rowe Associates Inc. MD boosted its position in Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after purchasing an additional 493,180 shares during the period. Finally, Envestnet Asset Management Inc. boosted its stake in Lowe’s Companies by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after purchasing an additional 90,945 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In other news, 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 value of $1,684,262.58. Following the completion of the transaction, the chief accounting officer now 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 legal filing with the SEC, which is available at this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on 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 completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Price Performance

Shares of LOW stock traded up $0.57 on Monday, hitting $268.21. The company’s stock had a trading volume of 493,890 shares, compared to its average volume of 2,437,624. Lowe’s Companies, Inc. has a fifty-two week low of $183.79 and a fifty-two week high of $287.01. The firm’s fifty day moving average price is $260.81 and its 200-day moving average price is $239.86. The stock has a market capitalization of $152.84 billion, a price-to-earnings ratio of 21.55, a P/E/G ratio of 2.24 and a beta of 1.10.

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, 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 company had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. During the same period last year, the firm earned $4.56 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. 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 given a $1.15 dividend. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.72%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 36.95%.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent analyst reports. Piper Sandler lifted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Sanford C. Bernstein started coverage on Lowe’s Companies in a report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 target price on the stock. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and raised their target price for the stock from $250.00 to $300.00 in a research note on Wednesday, October 9th. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Finally, Bank of America lifted their price target on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $271.60.

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.