Lowe’s Companies, Inc. (NYSE:LOW) Stake Lifted by Claro Advisors LLC

Claro Advisors LLC increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 36.5% in the third quarter, HoldingsChannel reports. The firm owned 2,357 shares of the home improvement retailer’s stock after acquiring an additional 630 shares during the period. Claro Advisors LLC’s holdings in Lowe’s Companies were worth $638,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Edgestream Partners L.P. grew its position in Lowe’s Companies by 2.8% in the 1st quarter. Edgestream Partners L.P. now owns 6,236 shares of the home improvement retailer’s stock worth $1,588,000 after purchasing an additional 172 shares during the last quarter. Trustmark National Bank Trust Department lifted its holdings in Lowe’s Companies by 26.6% during the 1st quarter. Trustmark National Bank Trust Department now owns 1,649 shares of the home improvement retailer’s stock valued at $420,000 after purchasing an additional 346 shares during the last quarter. Bahl & Gaynor Inc. raised its stake in shares of Lowe’s Companies by 2.0% in the first quarter. Bahl & Gaynor Inc. now owns 51,435 shares of the home improvement retailer’s stock worth $13,102,000 after acquiring an additional 999 shares during the last quarter. Rockport Wealth LLC bought a new position in shares of Lowe’s Companies in the first quarter worth about $488,000. Finally, Invesco LLC bought a new stake in shares of Lowe’s Companies during the first quarter worth approximately $252,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on LOW shares. Royal Bank of Canada decreased 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 report on Wednesday, August 21st. Sanford C. Bernstein assumed coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 price objective on the stock. Wedbush restated a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Gordon Haskett reduced their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research report on Wednesday, August 21st. Finally, Stifel Nicolaus upped their price objective on Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a report on Monday, November 11th. Ten research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $273.84.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’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 directly 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $269.40 on Monday. The company has a market cap of $152.83 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 2.21 and a beta of 1.10. The stock has a 50 day simple moving average of $267.19 and a 200-day simple moving average of $243.74. Lowe’s Companies, Inc. has a 1-year low of $196.23 and a 1-year 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, beating analysts’ consensus estimates of $3.96 by $0.14. The company had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $4.56 EPS. Analysts anticipate 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 declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.71%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is a positive change 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.