Keel Point LLC Purchases 361 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Keel Point LLC lifted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,961 shares of the home improvement retailer’s stock after buying an additional 361 shares during the period. Keel Point LLC’s holdings in Lowe’s Companies were worth $894,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in LOW. Norges Bank acquired a new position in shares of Lowe’s Companies in the fourth quarter valued at approximately $1,461,267,000. Moneta Group Investment Advisors LLC lifted its position in Lowe’s Companies by 107,710.7% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 5,080,039 shares of the home improvement retailer’s stock valued at $1,012,147,000 after acquiring an additional 5,075,327 shares in the last quarter. Providence Capital Advisors LLC boosted its stake in Lowe’s Companies by 19,964.5% in the 1st quarter. Providence Capital Advisors LLC now owns 4,520,122 shares of the home improvement retailer’s stock worth $22,604,000 after purchasing an additional 4,497,594 shares during the period. Macquarie Group Ltd. increased its holdings in Lowe’s Companies by 450.8% during the 1st quarter. Macquarie Group Ltd. now owns 2,556,364 shares of the home improvement retailer’s stock worth $511,196,000 after purchasing an additional 2,092,245 shares in the last quarter. Finally, Morgan Stanley lifted its holdings in shares of Lowe’s Companies by 21.3% in the fourth quarter. Morgan Stanley now owns 11,690,606 shares of the home improvement retailer’s stock valued at $2,329,237,000 after purchasing an additional 2,050,089 shares in the last quarter. Institutional investors and hedge funds own 71.88% of the company’s stock.

Insider Activity

In related news, EVP Janice Dupre sold 5,380 shares of Lowe’s Companies stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the completion of the transaction, the executive vice president now owns 24,216 shares of the company’s stock, valued at $5,600,676.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Joseph Michael Mcfarland sold 4,500 shares of Lowe’s Companies stock in a transaction on Monday, August 28th. The shares were sold at an average price of $222.53, for a total value of $1,001,385.00. Following the completion of the sale, the executive vice president now owns 46,594 shares in the company, valued at approximately $10,368,562.82. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Janice Dupre sold 5,380 shares of the business’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $231.28, for a total transaction of $1,244,286.40. Following the transaction, the executive vice president now owns 24,216 shares in the company, valued at approximately $5,600,676.48. The disclosure for this sale can be found here. Insiders own 0.24% of the company’s stock.

Lowe’s Companies Trading Down 1.0 %

LOW traded down $2.21 during trading on Tuesday, reaching $215.51. 919,337 shares of the company’s stock were exchanged, compared to its average volume of 2,822,834. The firm has a fifty day moving average price of $227.93 and a two-hundred day moving average price of $213.68. The stock has a market capitalization of $124.37 billion, a PE ratio of 21.43, a price-to-earnings-growth ratio of 1.43 and a beta of 1.09. Lowe’s Companies, Inc. has a one year low of $176.50 and a one year high of $237.21.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 22nd. The home improvement retailer reported $4.56 earnings per share for the quarter, beating analysts’ consensus estimates of $4.49 by $0.07. Lowe’s Companies had a negative return on equity of 58.56% and a net margin of 6.48%. The business had revenue of $24.96 billion during the quarter, compared to the consensus estimate of $24.97 billion. During the same period in the prior year, the business posted $4.67 earnings per share. Lowe’s Companies’s quarterly revenue was down 9.2% on a year-over-year basis. Sell-side analysts expect that Lowe’s Companies, Inc. will post 13.45 earnings per share for the current year.

Lowe’s Companies Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 8th. Stockholders of record on Wednesday, October 25th will be given a $1.10 dividend. The ex-dividend date is Tuesday, October 24th. This represents a $4.40 dividend on an annualized basis and a dividend yield of 2.04%. Lowe’s Companies’s dividend payout ratio (DPR) is currently 43.31%.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on LOW shares. Truist Financial lifted their target price on Lowe’s Companies from $249.00 to $256.00 and gave the company a “buy” rating in a research report on Wednesday, August 23rd. DA Davidson increased their price objective on shares of Lowe’s Companies from $228.00 to $237.00 in a research note on Wednesday, May 24th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $230.00 target price (up previously from $225.00) on shares of Lowe’s Companies in a research report on Tuesday, August 22nd. Wedbush restated a “neutral” rating and issued a $230.00 price target on shares of Lowe’s Companies in a research note on Wednesday, August 23rd. Finally, Bank of America upped their price objective on Lowe’s Companies from $278.00 to $289.00 and gave the stock a “buy” rating in a research note on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $237.48.

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.