Graypoint LLC Purchases 564 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Graypoint LLC increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 2.7% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,274 shares of the home improvement retailer’s stock after acquiring an additional 564 shares during the period. Graypoint LLC’s holdings in Lowe’s Companies were worth $5,762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Architects LLC acquired a new stake in shares of Lowe’s Companies in the 3rd quarter valued at approximately $203,000. Blake Schutter Theil Wealth Advisors LLC acquired a new position in Lowe’s Companies in the 3rd quarter worth $661,000. D.B. Root & Company LLC bought a new position in shares of Lowe’s Companies during the third quarter worth about $210,000. JNBA Financial Advisors grew its stake in shares of Lowe’s Companies by 555.6% during the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares in the last quarter. Finally, Concurrent Investment Advisors LLC increased its stake in Lowe’s Companies by 1.2% in the 3rd quarter. Concurrent Investment Advisors LLC now owns 27,378 shares of the home improvement retailer’s stock valued at $7,415,000 after buying an additional 337 shares during the last quarter. Institutional investors and hedge funds own 74.06% of the company’s stock.

Lowe’s Companies Trading Down 2.8 %

Shares of LOW stock opened at $261.66 on Thursday. Lowe’s Companies, Inc. has a 12 month low of $189.05 and a 12 month high of $287.01. The firm has a market capitalization of $148.44 billion, a PE ratio of 21.70, a price-to-earnings-growth ratio of 2.18 and a beta of 1.10. The firm has a fifty day simple moving average of $263.77 and a two-hundred day simple moving average of $241.67.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $23.93 billion. During the same period in the previous year, the firm earned $4.56 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. On average, equities analysts predict that Lowe’s Companies, Inc. will post 11.91 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. Investors of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is 38.14%.

Insider Buying and Selling

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was sold at an average price of $271.45, for a total value of $1,555,408.50. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

LOW has been the topic of several recent analyst reports. Piper Sandler boosted their price target on Lowe’s Companies from $262.00 to $307.00 and gave the stock an “overweight” rating in a research report on Monday, September 30th. Sanford C. Bernstein assumed coverage on shares of Lowe’s Companies in a research report on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price objective for the company. Bank of America lifted their target price on shares of Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Melius Research started coverage on Lowe’s Companies in a research report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. Finally, Truist Financial boosted their price target on Lowe’s Companies from $269.00 to $306.00 and gave the company a “buy” rating in a research note on Monday, October 14th. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $272.20.

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.