Linscomb Wealth Inc. Buys 2,458 Shares of Lowe’s Companies, Inc. $LOW

Linscomb Wealth Inc. boosted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 14.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,893 shares of the home improvement retailer’s stock after purchasing an additional 2,458 shares during the quarter. Linscomb Wealth Inc.’s holdings in Lowe’s Companies were worth $4,999,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Bessemer Group Inc. boosted its stake in Lowe’s Companies by 0.6% in the third quarter. Bessemer Group Inc. now owns 23,172 shares of the home improvement retailer’s stock valued at $5,824,000 after buying an additional 138 shares in the last quarter. Cullen Capital Management LLC boosted its position in Lowe’s Companies by 6.2% in the third quarter. Cullen Capital Management LLC now owns 622,033 shares of the home improvement retailer’s stock valued at $156,323,000 after buying an additional 36,096 shares in the last quarter. SBI Securities Co. Ltd. increased its holdings in shares of Lowe’s Companies by 8.2% during the third quarter. SBI Securities Co. Ltd. now owns 1,614 shares of the home improvement retailer’s stock worth $406,000 after buying an additional 122 shares in the last quarter. Auxano Advisors LLC acquired a new stake in shares of Lowe’s Companies during the 3rd quarter valued at $266,000. Finally, Savant Capital LLC boosted its stake in shares of Lowe’s Companies by 3.4% during the third quarter. Savant Capital LLC now owns 21,363 shares of the home improvement retailer’s stock valued at $5,369,000 after purchasing an additional 708 shares in the last quarter. 74.06% of the stock is owned by institutional investors.

Analyst Ratings Changes

LOW has been the subject of a number of research reports. HSBC dropped their price objective on shares of Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating for the company in a report on Friday, November 21st. Truist Financial set a $295.00 price target on shares of Lowe’s Companies in a report on Friday, January 16th. Morgan Stanley upped their target price on Lowe’s Companies from $270.00 to $296.00 and gave the company an “overweight” rating in a research report on Thursday, January 15th. TD Cowen raised their price objective on shares of Lowe’s Companies from $250.00 to $295.00 and gave the stock a “hold” rating in a research report on Tuesday, January 20th. Finally, Wells Fargo & Company reduced their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a report on Tuesday, November 11th. Nineteen investment analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, Lowe’s Companies presently has an average rating of “Moderate Buy” and an average price target of $284.81.

Insider Transactions at Lowe’s Companies

In related news, CEO Marvin R. Ellison sold 18,000 shares of the company’s stock in a transaction on Friday, January 9th. The shares were sold at an average price of $261.17, for a total value of $4,701,060.00. Following the completion of the transaction, the chief executive officer directly owned 231,043 shares in the company, valued at approximately $60,341,500.31. The trade was a 7.23% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.27% of the stock is currently owned by insiders.

Lowe’s Companies Stock Performance

LOW stock opened at $275.79 on Thursday. The company has a market capitalization of $154.70 billion, a price-to-earnings ratio of 22.87, a PEG ratio of 4.30 and a beta of 0.97. The stock has a fifty day moving average of $255.88 and a 200-day moving average of $249.04. Lowe’s Companies, Inc. has a fifty-two week low of $206.38 and a fifty-two week high of $281.36.

Lowe’s Companies (NYSE:LOW) last issued its earnings results on Wednesday, November 26th. The home improvement retailer reported $3.06 earnings per share (EPS) 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 analysts’ expectations of $20.88 billion. During the same quarter in the previous year, the firm posted $2.89 EPS. The business’s revenue for the quarter was up 3.2% compared to the same quarter last year. Equities analysts predict that Lowe’s Companies, Inc. will post 11.9 EPS for the current year.

Lowe’s Companies Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 4th. Stockholders of record on Wednesday, January 21st were given a dividend of $1.20 per share. This represents a $4.80 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio (DPR) is 39.80%.

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.