Lowe’s Companies, Inc. (NYSE:LOW) Shares Purchased by Texas Capital Bank Wealth Management Services Inc

Texas Capital Bank Wealth Management Services Inc raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 19.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,891 shares of the home improvement retailer’s stock after purchasing an additional 312 shares during the quarter. Texas Capital Bank Wealth Management Services Inc’s holdings in Lowe’s Companies were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. 9258 Wealth Management LLC grew its stake in shares of Lowe’s Companies by 24.8% in the fourth quarter. 9258 Wealth Management LLC now owns 2,387 shares of the home improvement retailer’s stock worth $531,000 after purchasing an additional 474 shares in the last quarter. Gryphon Financial Partners LLC grew its position in Lowe’s Companies by 10.6% in the 4th quarter. Gryphon Financial Partners LLC now owns 1,441 shares of the home improvement retailer’s stock valued at $315,000 after buying an additional 138 shares in the last quarter. TD Asset Management Inc increased its stake in Lowe’s Companies by 1.3% during the 4th quarter. TD Asset Management Inc now owns 203,968 shares of the home improvement retailer’s stock valued at $45,393,000 after buying an additional 2,536 shares during the period. Focus Financial Network Inc. ADV bought a new stake in shares of Lowe’s Companies during the 4th quarter worth about $358,000. Finally, Bristol Gate Capital Partners Inc. lifted its stake in shares of Lowe’s Companies by 1.5% in the 4th quarter. Bristol Gate Capital Partners Inc. now owns 389,570 shares of the home improvement retailer’s stock worth $86,699,000 after acquiring an additional 5,857 shares during the period. Institutional investors own 74.06% of the company’s stock.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies 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 completion of the sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.26% of the stock is currently owned by company insiders.

Lowe’s Companies Stock Performance

Lowe’s Companies stock opened at $267.13 on Friday. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $268.71. The firm has a market cap of $152.22 billion, a PE ratio of 21.46, a P/E/G ratio of 2.15 and a beta of 1.10. The firm’s 50 day moving average price is $246.22 and its two-hundred day moving average price is $236.23.

Lowe’s Companies (NYSE:LOW) last posted its quarterly 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 the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the prior year, the business posted $4.56 earnings per share. Equities analysts anticipate that Lowe’s Companies, Inc. will post 11.93 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 issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a dividend yield of 1.72%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 36.95%.

Analyst Ratings Changes

LOW has been the topic of a number of research analyst reports. Melius Research began coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective on the stock. Royal Bank of Canada cut their price objective on Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating for the company in a report on Wednesday, August 21st. JPMorgan Chase & Co. lowered their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Wedbush reissued a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Finally, Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $258.13.

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.