Zions Bancorporation N.A. Has $474,000 Position in Lowe’s Companies, Inc. (NYSE:LOW)

Zions Bancorporation N.A. increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 3.5% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,749 shares of the home improvement retailer’s stock after purchasing an additional 59 shares during the period. Zions Bancorporation N.A.’s holdings in Lowe’s Companies were worth $474,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its position in shares of 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 buying an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC raised its stake in Lowe’s Companies by 20,275.6% during the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after acquiring an additional 1,199,100 shares in the last quarter. Applied Finance Capital Management LLC lifted its holdings 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 valued at $219,761,000 after acquiring an additional 645,017 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of Lowe’s Companies by 36.6% in the 1st 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 purchasing an additional 493,180 shares in the last quarter. Finally, Marshall Wace LLP grew its holdings in shares of Lowe’s Companies by 170.5% in the 2nd quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after purchasing an additional 463,645 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Lowe’s Companies from $280.00 to $295.00 and gave the company an “overweight” rating in a research report on Wednesday, November 6th. Stifel Nicolaus increased their price target on Lowe’s Companies from $250.00 to $260.00 and gave the stock a “hold” rating in a research report on Monday, November 11th. Telsey Advisory Group raised Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the stock from $275.00 to $305.00 in a research note on Friday, November 8th. Piper Sandler raised 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. Finally, Royal Bank of Canada reduced their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research report on Wednesday, August 21st. Ten analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus target price of $273.84.

Lowe’s Companies Stock Down 0.4 %

Shares of LOW opened at $269.40 on Friday. Lowe’s Companies, Inc. has a twelve month low of $196.23 and a twelve month high of $287.01. The stock has a market capitalization of $152.83 billion, a P/E ratio of 22.34, a P/E/G ratio of 2.24 and a beta of 1.10. The company has a 50 day moving average of $266.68 and a 200-day moving average of $243.25.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the business earned $4.56 EPS. The company’s revenue was down 5.5% compared to the same quarter last year. On average, sell-side 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 company also recently announced a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a yield of 1.71%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is presently 38.14%.

Insiders Place Their Bets

In other news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction that occurred 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 completion of the transaction, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. The trade was a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction on 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 of the company’s stock, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

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.