First Interstate Bank Boosts Position in Lowe’s Companies, Inc. (NYSE:LOW)

First Interstate Bank boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 39,586 shares of the home improvement retailer’s stock after buying an additional 212 shares during the period. Lowe’s Companies makes up about 0.7% of First Interstate Bank’s investment portfolio, making the stock its 23rd largest position. First Interstate Bank’s holdings in Lowe’s Companies were worth $10,722,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after buying an additional 2,674,372 shares during the period. Legal & General Group Plc grew its position in Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. International Assets Investment Management LLC grew its position in 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 acquiring an additional 2,027,668 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Lowe’s Companies by 6.0% in the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after acquiring an additional 90,945 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Stock Up 0.0 %

LOW stock traded up $0.11 during mid-day trading on Friday, reaching $261.94. The company had a trading volume of 2,262,390 shares, compared to its average volume of 2,446,005. Lowe’s Companies, Inc. has a one year low of $189.05 and a one year high of $287.01. The stock’s 50-day simple moving average is $262.81 and its two-hundred day simple moving average is $240.82. The stock has a market capitalization of $148.60 billion, a P/E ratio of 21.72, a P/E/G ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued 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. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same period in the previous year, the business earned $4.56 earnings per share. The company’s revenue was down 5.5% on a year-over-year basis. On average, research analysts forecast that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 38.14%.

Insider Activity 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 sale, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction dated 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 sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % 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 Ratings Changes

Several analysts have issued reports on the stock. TD Cowen increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. JPMorgan Chase & Co. lowered their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $230.00 to $305.00 in a research report on Tuesday, September 24th. Melius Research began coverage on shares of Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. Finally, Sanford C. Bernstein began coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price target for the company. Eleven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $271.60.

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.