Caprock Group LLC Takes $4.72 Million Position in Lowe’s Companies, Inc. $LOW

Caprock Group LLC bought a new stake in Lowe’s Companies, Inc. (NYSE:LOW) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 18,302 shares of the home improvement retailer’s stock, valued at approximately $4,723,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Waterloo Capital L.P. raised its holdings in shares of Lowe’s Companies by 1.2% in the 2nd quarter. Waterloo Capital L.P. now owns 3,455 shares of the home improvement retailer’s stock worth $767,000 after buying an additional 41 shares in the last quarter. TruWealth Advisors LLC grew its position in Lowe’s Companies by 2.7% in the third quarter. TruWealth Advisors LLC now owns 1,580 shares of the home improvement retailer’s stock valued at $397,000 after acquiring an additional 42 shares during the period. Cypress Wealth Services LLC raised its stake in Lowe’s Companies by 2.0% during the third quarter. Cypress Wealth Services LLC now owns 2,191 shares of the home improvement retailer’s stock worth $551,000 after acquiring an additional 42 shares in the last quarter. Hidden Cove Wealth Management LLC raised its stake in Lowe’s Companies by 4.6% during the third quarter. Hidden Cove Wealth Management LLC now owns 960 shares of the home improvement retailer’s stock worth $241,000 after acquiring an additional 42 shares in the last quarter. Finally, Roble Belko & Company Inc lifted its holdings in shares of Lowe’s Companies by 21.4% during the third quarter. Roble Belko & Company Inc now owns 250 shares of the home improvement retailer’s stock valued at $63,000 after acquiring an additional 44 shares during the period. Institutional investors own 74.06% of the company’s stock.

Analysts Set New Price Targets

LOW has been the topic of several analyst reports. Evercore upped their target price on shares of Lowe’s Companies from $250.00 to $280.00 in a report on Tuesday, January 27th. Wolfe Research decreased their price objective on shares of Lowe’s Companies from $285.00 to $284.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 4th. TD Cowen lifted their target price on shares of Lowe’s Companies from $250.00 to $295.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. HSBC reduced their target price on Lowe’s Companies from $285.00 to $263.00 and set a “hold” rating on the stock in a report on Friday, November 21st. Finally, Bank of America cut their price objective on Lowe’s Companies from $290.00 to $280.00 and set a “buy” rating for the company in a research report on Thursday, November 20th. Nineteen equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $284.77.

Lowe’s Companies Stock Up 0.8%

Shares of LOW stock opened at $286.97 on Thursday. The firm has a market cap of $160.97 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 4.45 and a beta of 0.97. Lowe’s Companies, Inc. has a 12 month low of $206.38 and a 12 month high of $287.34. The stock has a 50-day moving average price of $259.48 and a 200 day moving average price of $250.94.

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 the consensus estimate of $2.97 by $0.09. The company had revenue of $20.81 billion for the quarter, compared to analyst estimates of $20.88 billion. Lowe’s Companies had a net margin of 8.05% and a negative return on equity of 55.86%. The company’s revenue for the quarter was up 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.89 EPS. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.9 earnings per share for the current fiscal year.

Lowe’s Companies Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 4th. Investors of record on Wednesday, January 21st were issued a $1.20 dividend. This represents a $4.80 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Wednesday, January 21st. Lowe’s Companies’s dividend payout ratio is currently 39.80%.

Insider Buying and Selling

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

Lowe’s Companies Company Profile

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.