First City Capital Management Inc. Acquires 1,969 Shares of Lowe's Companies, Inc. (NYSE:LOW)

First City Capital Management Inc. increased its holdings in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 32.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 8,017 shares of the home improvement retailer's stock after purchasing an additional 1,969 shares during the quarter. Lowe's Companies makes up 1.1% of First City Capital Management Inc.'s investment portfolio, making the stock its 21st biggest holding. First City Capital Management Inc.'s holdings in Lowe's Companies were worth $2,171,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Equita Financial Network Inc. boosted its position in Lowe's Companies by 3.4% during the third quarter. Equita Financial Network Inc. now owns 4,905 shares of the home improvement retailer's stock valued at $1,329,000 after acquiring an additional 163 shares during the last quarter. Fifth Third Wealth Advisors LLC boosted its position in Lowe's Companies by 9.0% during the third quarter. Fifth Third Wealth Advisors LLC now owns 6,940 shares of the home improvement retailer's stock valued at $1,880,000 after acquiring an additional 571 shares during the last quarter. BIP Wealth LLC bought a new stake in Lowe's Companies during the third quarter valued at $328,000. Prospera Financial Services Inc boosted its position in Lowe's Companies by 6.1% during the third quarter. Prospera Financial Services Inc now owns 46,968 shares of the home improvement retailer's stock valued at $12,728,000 after acquiring an additional 2,698 shares during the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in Lowe's Companies by 693.5% during the third quarter. Meeder Asset Management Inc. now owns 23,829 shares of the home improvement retailer's stock worth $6,454,000 after acquiring an additional 20,826 shares in the last quarter. Institutional investors own 74.06% of the company's stock.

Lowe's Companies Stock Down 4.1 %

Shares of NYSE:LOW traded down $11.18 during midday trading on Tuesday, reaching $260.59. 2,756,965 shares of the company traded hands, compared to its average volume of 2,441,436. Lowe's Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The firm has a market capitalization of $147.83 billion, a price-to-earnings ratio of 21.63, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10. The firm's fifty day moving average price is $267.74 and its two-hundred day moving average price is $244.04.

Lowe's Companies (NYSE:LOW - Get Free Report) last announced 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. The business 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 company's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the company earned $4.56 EPS. Analysts forecast that Lowe's Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe's Companies Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, February 5th. Stockholders of record on Wednesday, January 22nd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, January 22nd. Lowe's Companies's payout ratio is currently 38.14%.

Insider Transactions at Lowe's Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the 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 in the company, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 sale, the chief accounting officer now directly owns 9,383 shares of the company's stock, valued at $2,334,678.06. The trade was a 41.91 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company's stock.

Analyst Ratings Changes

A number of analysts have commented on the company. Wedbush reissued a "neutral" rating and set a $250.00 price objective on shares of Lowe's Companies in a report on Wednesday, August 21st. Stifel Nicolaus upped their target price on shares of Lowe's Companies from $250.00 to $260.00 and gave the stock a "hold" rating in a research note on Monday, November 11th. Loop Capital raised shares of Lowe's Companies from a "hold" rating to a "buy" rating and raised their price target for the company from $250.00 to $300.00 in a research report on Wednesday, October 9th. Wells Fargo & Company lifted their target price on shares of Lowe's Companies from $280.00 to $295.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 6th. Finally, Piper Sandler increased their price target on Lowe's Companies from $262.00 to $307.00 and gave the company an "overweight" rating in a research report on Monday, September 30th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $273.84.

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.