Equita Financial Network Inc. Boosts Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Equita Financial Network Inc. boosted its position in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,905 shares of the home improvement retailer’s stock after acquiring an additional 163 shares during the quarter. Equita Financial Network Inc.’s holdings in Lowe’s Companies were worth $1,329,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC grew its stake in Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares in the last quarter. Strategic Financial Concepts LLC boosted its stake in shares of Lowe’s Companies by 20,275.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares during the period. Applied Finance Capital Management LLC grew its position in shares of Lowe’s Companies by 387.7% during the third 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 in the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of 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 buying an additional 493,180 shares during the period. Finally, Marshall Wace LLP raised its holdings in Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock valued at $162,178,000 after acquiring an additional 463,645 shares in the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 0.9 %

Shares of LOW stock opened at $271.87 on Tuesday. The company has a market capitalization of $154.23 billion, a P/E ratio of 22.54, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The business’s 50 day moving average is $267.74 and its two-hundred day moving average is $244.04. Lowe’s Companies, Inc. has a twelve month low of $196.23 and a twelve month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. During the same period last year, the firm posted $4.56 EPS. As a group, equities analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe’s Companies’s payout ratio is 38.14%.

Insider Transactions at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s 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 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 trade represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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 company’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 approximately $2,334,678.06. This trade represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analyst Upgrades and Downgrades

LOW has been the subject of several analyst reports. Morgan Stanley boosted their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Piper Sandler boosted their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research note on Monday, September 30th. Wells Fargo & Company increased their target price on Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a report on Wednesday, November 6th. Gordon Haskett decreased their price target on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a report on Wednesday, August 21st. Finally, Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $230.00 to $305.00 in a report on Tuesday, September 24th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $273.84.

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.