Pinnacle Financial Partners Inc Increases Position in Lowe’s Companies, Inc. (NYSE:LOW)

Pinnacle Financial Partners Inc increased its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,967 shares of the home improvement retailer’s stock after buying an additional 384 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Lowe’s Companies were worth $4,866,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. TBH Global Asset Management LLC purchased a new position in Lowe’s Companies in the 1st quarter valued at $267,000. Leo Wealth LLC boosted its holdings in shares of Lowe’s Companies by 11.1% in the first quarter. Leo Wealth LLC now owns 3,085 shares of the home improvement retailer’s stock valued at $772,000 after acquiring an additional 308 shares in the last quarter. 1ST Source Bank increased its stake in shares of Lowe’s Companies by 0.6% during the first quarter. 1ST Source Bank now owns 10,762 shares of the home improvement retailer’s stock worth $2,741,000 after acquiring an additional 59 shares during the period. TCTC Holdings LLC raised its holdings in Lowe’s Companies by 0.8% during the first quarter. TCTC Holdings LLC now owns 118,907 shares of the home improvement retailer’s stock worth $30,289,000 after purchasing an additional 964 shares in the last quarter. Finally, Motco lifted its position in Lowe’s Companies by 3.4% in the first quarter. Motco now owns 41,185 shares of the home improvement retailer’s stock valued at $10,491,000 after purchasing an additional 1,367 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the 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 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 disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Stock Performance

Shares of LOW opened at $272.32 on Thursday. Lowe’s Companies, Inc. has a fifty-two week low of $196.23 and a fifty-two week high of $287.01. The stock has a fifty day moving average of $265.62 and a two-hundred day moving average of $242.85. The company has a market capitalization of $154.48 billion, a PE ratio of 22.58, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its earnings results 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. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. During the same period in the prior year, the business posted $4.56 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. Lowe’s Companies’s payout ratio is currently 38.14%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on LOW shares. Oppenheimer raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $230.00 to $305.00 in a research note on Tuesday, September 24th. Wells Fargo & Company upped their price objective on Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Stifel Nicolaus raised their target price on Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a report on Monday. Sanford C. Bernstein started coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 target price on the stock. Finally, Melius Research began coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target for the company. Ten investment analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $273.84.

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.