Country Trust Bank Boosts Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Country Trust Bank grew its position in Lowe’s Companies, Inc. (NYSE:LOWFree Report) by 8.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 124,011 shares of the home improvement retailer’s stock after purchasing an additional 10,118 shares during the period. Country Trust Bank’s holdings in Lowe’s Companies were worth $33,588,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies during the 4th quarter valued at approximately $28,000. Transcendent Capital Group LLC bought a new position in Lowe’s Companies during the 4th quarter valued at $31,000. Stephens Consulting LLC grew its holdings in Lowe’s Companies by 93.3% during the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 70 shares in the last quarter. Keener Financial Planning LLC bought a new stake in shares of Lowe’s Companies in the 1st quarter worth about $35,000. Finally, Kimelman & Baird LLC bought a new stake in Lowe’s Companies in the second quarter valued at about $37,000. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the business’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 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction 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 directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at 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 stock was 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 approximately $3,586,940.30. The trade was a 0.00 % decrease in their position. 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

Several research analysts have recently commented on the stock. Melius Research began coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target for the company. Wells Fargo & Company lowered their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Loop Capital boosted their price target on shares of Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a report on Wednesday, October 2nd. Morgan Stanley lifted their price objective on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research report on Wednesday, August 21st. Finally, StockNews.com upgraded shares of Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday, September 18th. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $263.54.

Check Out Our Latest Report on Lowe’s Companies

Lowe’s Companies Stock Up 1.8 %

Shares of NYSE:LOW opened at $273.27 on Wednesday. The company’s fifty day moving average is $250.19 and its two-hundred day moving average is $237.01. The company has a market cap of $155.72 billion, a P/E ratio of 21.95, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $274.26.

Lowe’s Companies (NYSE:LOWGet Free Report) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the previous year, the firm earned $4.56 earnings per share. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. Equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.68%. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

About Lowe’s Companies

(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.

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

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