Ballentine Partners LLC Has $2.99 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Ballentine Partners LLC boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 16.0% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,053 shares of the home improvement retailer’s stock after acquiring an additional 1,527 shares during the quarter. Ballentine Partners LLC’s holdings in Lowe’s Companies were worth $2,994,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in LOW. Vanguard Group Inc. increased its position in Lowe’s Companies by 5.2% during the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after buying an additional 2,674,372 shares during the last quarter. Legal & General Group Plc boosted its stake in shares of Lowe’s Companies by 1.6% during the 2nd quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after acquiring an additional 82,978 shares in the last quarter. International Assets Investment Management LLC boosted its stake in shares of Lowe’s Companies by 1,889.7% during the 3rd quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after acquiring an additional 2,027,668 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Lowe’s Companies by 36.6% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock valued at $468,884,000 after acquiring an additional 493,180 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Lowe’s Companies by 6.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after acquiring an additional 90,945 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Lowe’s Companies Trading Up 0.5 %

Shares of LOW opened at $271.36 on Friday. The stock has a market cap of $154.63 billion, a PE ratio of 21.80, a PEG ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $287.01. The stock has a 50 day simple moving average of $259.66 and a 200-day simple moving average of $239.47.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The business’s revenue 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. On average, sell-side analysts forecast that Lowe’s Companies, Inc. will post 11.91 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. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is currently 36.95%.

Insider Buying and Selling at Lowe’s Companies

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’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 transaction of $1,555,408.50. Following the completion of the sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction on Wednesday, October 2nd. The stock was 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 in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total transaction of $1,684,262.58. Following the transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have commented on the company. JPMorgan Chase & Co. lowered their price target 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. Gordon Haskett dropped their target price on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a report on Wednesday, August 21st. UBS Group boosted their target price on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. Piper Sandler raised their price target on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Melius Research started coverage on Lowe’s Companies in a research report on Monday, September 23rd. They set a “buy” rating and a $290.00 price objective for the company. Eleven analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and a consensus price target of $270.60.

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.