Fortitude Family Office LLC Grows Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Fortitude Family Office LLC boosted its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 62.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,970 shares of the home improvement retailer’s stock after buying an additional 754 shares during the period. Fortitude Family Office LLC’s holdings in Lowe’s Companies were worth $534,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Vanguard Group Inc. grew its holdings in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Lowe’s Companies by 1,889.7% in the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after purchasing an additional 2,027,668 shares during the last quarter. Strategic Financial Concepts LLC grew its stake in shares of Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after buying an additional 1,199,100 shares during the period. M&G Plc acquired a new stake in shares of Lowe’s Companies during the 1st quarter worth $217,995,000. Finally, Price T Rowe Associates Inc. MD raised its position 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 worth $468,884,000 after buying an additional 493,180 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies stock in a transaction on 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 of the company’s stock, valued at $3,586,940.30. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction that occurred 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This 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 can be accessed through the SEC website. 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 value 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 approximately $3,586,940.30. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

NYSE LOW opened at $264.73 on Tuesday. The company’s fifty day moving average price is $261.31 and its two-hundred day moving average price is $240.09. The company has a market capitalization of $150.85 billion, a price-to-earnings ratio of 21.52, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $183.79 and a 12 month high of $287.01.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. The business had revenue of $23.59 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period last year, the firm earned $4.56 earnings per share. As a group, analysts anticipate that Lowe’s Companies, Inc. will post 11.91 EPS for the current 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 issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.74%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is 36.95%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on LOW shares. TD Cowen boosted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday. Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $230.00 to $305.00 in a report on Tuesday, September 24th. Bank of America raised their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a report on Friday, October 11th. Sanford C. Bernstein began coverage on shares of Lowe’s Companies in a research note on Tuesday, October 22nd. They set an “outperform” rating and a $323.00 price objective for the company. Finally, Piper Sandler raised their target price on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Eleven research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $271.60.

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.