10,936 Shares in Lowe’s Companies, Inc. $LOW Purchased by First Horizon Corp

First Horizon Corp acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 10,936 shares of the home improvement retailer’s stock, valued at approximately $2,748,000.

A number of other hedge funds also recently bought and sold shares of the company. Howard Hughes Medical Institute purchased a new stake in shares of Lowe’s Companies in the 2nd quarter valued at approximately $27,000. Solstein Capital LLC raised its stake in Lowe’s Companies by 627.8% during the 2nd quarter. Solstein Capital LLC now owns 131 shares of the home improvement retailer’s stock valued at $29,000 after purchasing an additional 113 shares during the period. Traub Capital Management LLC purchased a new stake in shares of Lowe’s Companies in the second quarter valued at $30,000. Vermillion & White Wealth Management Group LLC lifted its holdings in shares of Lowe’s Companies by 128.8% in the second quarter. Vermillion & White Wealth Management Group LLC now owns 135 shares of the home improvement retailer’s stock valued at $30,000 after purchasing an additional 76 shares in the last quarter. Finally, Olistico Wealth LLC acquired a new stake in shares of Lowe’s Companies in the second quarter worth $33,000. 74.06% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on LOW shares. Telsey Advisory Group reduced their price objective on Lowe’s Companies from $305.00 to $285.00 and set an “outperform” rating for the company in a research note on Thursday, November 20th. Truist Financial set a $269.00 target price on Lowe’s Companies in a report on Wednesday, December 17th. Oppenheimer decreased their price target on shares of Lowe’s Companies from $320.00 to $315.00 and set an “outperform” rating for the company in a report on Friday, December 5th. Evercore ISI reiterated a “positive” rating on shares of Lowe’s Companies in a research note on Thursday, November 20th. Finally, Royal Bank Of Canada cut their target price on shares of Lowe’s Companies from $260.00 to $252.00 and set a “sector perform” rating for the company in a research report on Thursday, November 20th. Eighteen investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $277.52.

Lowe’s Companies Stock Up 1.4%

NYSE LOW opened at $270.93 on Tuesday. The stock has a market capitalization of $151.98 billion, a PE ratio of 22.47, a price-to-earnings-growth ratio of 4.43 and a beta of 0.96. Lowe’s Companies, Inc. has a 12-month low of $206.38 and a 12-month high of $274.98. The company has a 50 day moving average price of $241.68 and a two-hundred day moving average price of $243.20.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.09. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The business had revenue of $20.81 billion for the quarter, compared to the consensus estimate of $20.88 billion. During the same quarter last year, the firm earned $2.89 EPS. Lowe’s Companies’s revenue for the quarter was up 3.2% on a year-over-year basis. As a group, equities analysts anticipate that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, February 4th. Shareholders of record on Wednesday, January 21st will be given a $1.20 dividend. The ex-dividend date of this dividend is Wednesday, January 21st. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.8%. Lowe’s Companies’s payout ratio is currently 39.80%.

Insider Buying and Selling at Lowe’s Companies

In other news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $261.17, for a total transaction of $4,701,060.00. Following the completion of the sale, the chief executive officer owned 231,043 shares in the company, valued at approximately $60,341,500.31. This represents a 7.23% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.27% of the stock is owned by corporate insiders.

About Lowe’s Companies

Lowe’s Companies, Inc is a leading home improvement retailer that operates large-format stores and digital channels serving both do-it-yourself homeowners and professional contractors. The company offers a broad assortment of products including building materials, lumber, appliances, tools and hardware, plumbing and electrical supplies, paint, flooring, kitchen and bath fixtures, outdoor and garden products, and home decor. Lowe’s also provides a range of services such as installation, home improvement financing, tool and equipment rental, and contractor-focused sales programs.

Operations are centered on a nationwide brick-and-mortar store network supported by distribution centers and an e-commerce platform that enables online ordering, delivery and in-store pickup.