Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Baker Avenue Asset Management LP

Baker Avenue Asset Management LP increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 9.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 7,588 shares of the home improvement retailer’s stock after acquiring an additional 671 shares during the period. Baker Avenue Asset Management LP’s holdings in Lowe’s Companies were worth $2,055,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of LOW. Vanguard Group Inc. raised its holdings in Lowe’s Companies by 5.2% in the 1st quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after acquiring an additional 2,674,372 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 third 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 purchasing an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC increased its stake in Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after purchasing an additional 1,199,100 shares during the last quarter. M&G Plc purchased a new position in Lowe’s Companies during the first quarter worth about $217,995,000. Finally, Applied Finance Capital Management LLC boosted its stake in Lowe’s Companies by 387.7% in the 3rd quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock worth $219,761,000 after buying an additional 645,017 shares during the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Trading Up 1.8 %

LOW stock opened at $271.10 on Monday. The firm has a 50 day simple moving average of $264.61 and a 200-day simple moving average of $242.17. The company has a market capitalization of $153.79 billion, a P/E ratio of 22.48, a PEG ratio of 2.23 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $189.05 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping 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 company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period last year, the business earned $4.56 EPS. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, research analysts predict that Lowe’s Companies, Inc. will post 11.92 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.70%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio (DPR) is currently 38.14%.

Analysts Set New Price Targets

A number of research firms have recently commented on LOW. Royal Bank of Canada dropped 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 note on Wednesday, August 21st. Sanford C. Bernstein began coverage on shares of Lowe’s Companies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price target on the stock. Oppenheimer upgraded shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $273.44.

Insider Activity

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade 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 company’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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 approximately $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

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.