Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Cornerstone Advisors LLC

Cornerstone Advisors LLC lifted its position in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 1.1% during the third quarter, HoldingsChannel.com reports. The fund owned 27,300 shares of the home improvement retailer’s stock after acquiring an additional 300 shares during the period. Cornerstone Advisors LLC’s holdings in Lowe’s Companies were worth $7,394,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Bamco Inc. NY increased its holdings in shares of Lowe’s Companies by 10.3% in the first 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 during the last quarter. Plato Investment Management Ltd raised its position in 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 purchasing an additional 5,470 shares during the period. HM Payson & Co. grew its holdings in shares of Lowe’s Companies by 1.1% during the 3rd quarter. HM Payson & Co. now owns 215,651 shares of the home improvement retailer’s stock worth $58,409,000 after purchasing an additional 2,322 shares during the period. Daymark Wealth Partners LLC lifted its position in Lowe’s Companies by 12.7% in the second 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 during the last quarter. Finally, AMF Tjanstepension AB raised its stake in shares of 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. Institutional investors and hedge funds own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This represents a 41.91 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s 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 30.25 % 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 insiders.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $263.03 on Thursday. Lowe’s Companies, Inc. has a 1-year low of $196.23 and a 1-year high of $287.01. The stock’s 50 day moving average price is $268.29 and its 200 day moving average price is $244.36. The company has a market cap of $149.21 billion, a PE ratio of 21.94, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10.

Lowe’s Companies (NYSE:LOWGet Free Report) last released its quarterly earnings data 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. Lowe’s Companies had a net margin of 8.19% and a negative return on equity of 47.55%. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter in the previous year, the firm earned $4.56 earnings per share. The firm’s revenue was down 5.5% on a year-over-year basis. On average, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.82 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is 38.37%.

Analyst Ratings Changes

Several equities analysts recently issued reports on LOW shares. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Wells Fargo & Company upped 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 note on Wednesday, November 6th. Evercore ISI lifted their price objective on shares of Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a research report on Wednesday. Loop Capital raised Lowe’s Companies from a “hold” rating to a “buy” rating and upped their price objective for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Finally, Gordon Haskett cut their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $277.92.

Read Our Latest Stock Report on LOW

Lowe’s Companies Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Lowe's Companies (NYSE:LOW)

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