Harbour Investments Inc. Grows Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Harbour Investments Inc. boosted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,178 shares of the home improvement retailer’s stock after acquiring an additional 129 shares during the quarter. Harbour Investments Inc.’s holdings in Lowe’s Companies were worth $2,215,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of LOW. Bamco Inc. NY grew its holdings in shares of Lowe’s Companies by 10.3% in the first quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer’s stock worth $55,266,000 after purchasing an additional 20,181 shares during the last quarter. Plato Investment Management Ltd grew its holdings in Lowe’s Companies by 655.9% in the 1st quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer’s stock worth $1,606,000 after acquiring an additional 5,470 shares during the last quarter. HM Payson & Co. increased its position in shares of Lowe’s Companies by 1.1% in the third quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock valued at $58,409,000 after acquiring an additional 2,322 shares during the period. Daymark Wealth Partners LLC raised its stake in shares of Lowe’s Companies by 12.7% during the second quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer’s stock valued at $5,637,000 after acquiring an additional 2,889 shares during the last quarter. Finally, AMF Tjanstepension AB raised its stake in shares of Lowe’s Companies by 14.4% during the third quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after acquiring an additional 20,123 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on LOW. Evercore ISI boosted their price target on Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a report on Wednesday, August 21st. Piper Sandler boosted their target price on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Oppenheimer raised 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 note on Tuesday, September 24th. StockNews.com raised shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Finally, Gordon Haskett dropped their target price 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. Ten research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $273.84.

Lowe’s Companies Trading Up 0.9 %

Lowe’s Companies stock opened at $272.32 on Thursday. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The stock has a fifty day simple moving average of $265.62 and a two-hundred day simple moving average of $242.85. The firm has a market cap of $154.48 billion, a price-to-earnings ratio of 22.58, a PEG ratio of 2.22 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same quarter in the previous year, the firm earned $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

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

Insiders Place Their Bets

In other 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 transaction 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 $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other 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 $2,334,678.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction on 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 of the company’s stock, valued at approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

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.