Arvest Investments Inc. lifted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW – Free Report) by 1.1% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,193 shares of the home improvement retailer’s stock after purchasing an additional 111 shares during the period. Arvest Investments Inc.’s holdings in Lowe’s Companies were worth $2,761,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Stephens Consulting LLC increased its position in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares during the last quarter. JNBA Financial Advisors increased its holdings in Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. MFA Wealth Advisors LLC raised its position in shares of Lowe’s Companies by 118.6% in the 3rd quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after purchasing an additional 70 shares in the last quarter. Kimelman & Baird LLC purchased a new position in shares of Lowe’s Companies during the 2nd quarter valued at approximately $37,000. Finally, Tsfg LLC grew its position in shares of Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after buying an additional 100 shares in the last quarter. 74.06% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
A number of equities research analysts have recently issued reports on the stock. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and upped their target price for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Telsey Advisory Group upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price objective for the stock from $275.00 to $305.00 in a research note on Friday. Morgan Stanley boosted their target price on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. TD Cowen raised their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Bank of America boosted their price objective on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Ten investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $273.44.
Insider Transactions 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 completion of the transaction, the executive vice president now directly owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $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 through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents 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 owned by insiders.
Lowe’s Companies Stock Performance
Shares of NYSE:LOW traded up $4.80 during trading on Friday, hitting $271.10. 2,102,467 shares of the stock were exchanged, compared to its average volume of 2,186,897. The company has a market capitalization of $153.79 billion, a price-to-earnings ratio of 22.48, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $189.05 and a 1-year high of $287.01. The company’s fifty day simple moving average is $264.61 and its 200-day simple moving average is $242.17.
Lowe’s Companies (NYSE:LOW – Get Free Report) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter in the previous year, the firm posted $4.56 EPS. The business’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, research analysts forecast that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.
Lowe’s Companies Increases Dividend
The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 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.
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