Commonwealth Equity Services LLC Acquires 5,832 Shares of Lowe's Companies, Inc. (NYSE:LOW)

Commonwealth Equity Services LLC raised its stake in Lowe's Companies, Inc. (NYSE:LOW - Free Report) by 1.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 424,382 shares of the home improvement retailer's stock after acquiring an additional 5,832 shares during the quarter. Commonwealth Equity Services LLC owned approximately 0.07% of Lowe's Companies worth $114,944,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of LOW. Bamco Inc. NY increased its stake in shares of Lowe's Companies by 10.3% in the 1st quarter. Bamco Inc. NY now owns 216,958 shares of the home improvement retailer's stock valued at $55,266,000 after purchasing an additional 20,181 shares in the last quarter. Plato Investment Management Ltd increased its position in shares of Lowe's Companies by 655.9% in the first quarter. Plato Investment Management Ltd now owns 6,304 shares of the home improvement retailer's stock valued at $1,606,000 after buying an additional 5,470 shares in the last quarter. Lincoln National Corp raised its stake in shares of Lowe's Companies by 1.5% during the 1st quarter. Lincoln National Corp now owns 11,128 shares of the home improvement retailer's stock worth $2,835,000 after buying an additional 169 shares during the period. Daymark Wealth Partners LLC lifted its position in shares of Lowe's Companies by 12.7% during the 2nd quarter. Daymark Wealth Partners LLC now owns 25,569 shares of the home improvement retailer's stock valued at $5,637,000 after buying an additional 2,889 shares in the last quarter. Finally, AMF Tjanstepension AB grew its stake in Lowe's Companies by 14.4% in the 3rd 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 period. Hedge funds and other institutional investors own 74.06% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on LOW. Piper Sandler upped their price objective on shares of Lowe's Companies from $262.00 to $307.00 and gave the stock an "overweight" rating in a research report on Monday, September 30th. Telsey Advisory Group raised their price target on shares of Lowe's Companies from $230.00 to $275.00 and gave the company a "market perform" rating in a research note on Wednesday, October 2nd. Truist Financial lifted their price objective on Lowe's Companies from $269.00 to $306.00 and gave the stock a "buy" rating in a report on Monday, October 14th. JPMorgan Chase & Co. reduced their target price on Lowe's Companies from $272.00 to $270.00 and set an "overweight" rating for the company in a report on Wednesday, August 21st. Finally, UBS Group lifted their price target on Lowe's Companies from $270.00 to $290.00 and gave the stock a "buy" rating in a research note on Wednesday, August 21st. Eleven equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $268.42.

Lowe's Companies Stock Performance

LOW traded up $0.33 on Friday, hitting $281.64. 2,031,301 shares of the company were exchanged, compared to its average volume of 2,450,833. Lowe's Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $287.01. The firm has a market capitalization of $160.49 billion, a P/E ratio of 22.62, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10. The business's fifty day moving average is $257.37 and its 200 day moving average is $238.77.

Lowe's Companies (NYSE:LOW - Get Free Report) last released its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion during 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 business's quarterly revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.56 earnings per share. Analysts forecast that Lowe's Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe's Companies Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.63%. This is a positive change from Lowe's Companies's previous quarterly dividend of $0.15. Lowe's Companies's dividend payout ratio is currently 36.95%.

Insiders Place Their Bets

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm's stock in a transaction that occurred 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 transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe's Companies stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the completion of the sale, 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 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the business's stock in a transaction dated Wednesday, October 2nd. The shares were sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the transaction, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

About Lowe's Companies

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.