Lowe’s Companies, Inc. (NYSE:LOW) Position Boosted by Allen Capital Group LLC

Allen Capital Group LLC lifted its stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 25.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,725 shares of the home improvement retailer’s stock after purchasing an additional 349 shares during the period. Allen Capital Group LLC’s holdings in Lowe’s Companies were worth $467,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. JNBA Financial Advisors lifted its position in shares of Lowe’s Companies by 555.6% during the third quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 100 shares during the last quarter. MFA Wealth Advisors LLC lifted its position in shares of Lowe’s Companies by 118.6% during the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock worth $35,000 after purchasing an additional 70 shares during the last quarter. Stephens Consulting LLC lifted its position in shares of Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after purchasing an additional 70 shares during the last quarter. Kimelman & Baird LLC bought a new position in shares of Lowe’s Companies during the second quarter worth about $37,000. Finally, Tsfg LLC lifted its position in shares of Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock worth $48,000 after purchasing an additional 100 shares during the last quarter. Institutional investors own 74.06% of the company’s stock.

Insiders Place Their Bets

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s 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 of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Price Performance

NYSE LOW opened at $264.63 on Friday. The firm has a market capitalization of $150.12 billion, a PE ratio of 22.07, a P/E/G ratio of 2.22 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The company’s 50 day simple moving average is $268.74 and its 200 day simple moving average is $244.73.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping the consensus estimate 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 8.19% and a negative return on equity of 47.55%. The firm’s quarterly revenue was down 5.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.56 earnings per share. Sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.88 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were given a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 annualized dividend and a yield of 1.74%. Lowe’s Companies’s payout ratio is 38.37%.

Analyst Ratings Changes

Several brokerages have recently commented on LOW. Gordon Haskett cut their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Telsey Advisory Group reissued an “outperform” rating and issued a $305.00 target price on shares of Lowe’s Companies in a report on Tuesday. Truist Financial raised their target price on shares of Lowe’s Companies from $307.00 to $310.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company raised their target price on shares of Lowe’s Companies from $280.00 to $295.00 and gave the stock an “overweight” rating in a report on Wednesday, November 6th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and an average price target of $277.92.

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.