Mcrae Capital Management Inc. Acquires 653 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Mcrae Capital Management Inc. increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 0.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,251 shares of the home improvement retailer’s stock after acquiring an additional 653 shares during the quarter. Lowe’s Companies makes up about 4.9% of Mcrae Capital Management Inc.’s holdings, making the stock its 3rd biggest position. Mcrae Capital Management Inc.’s holdings in Lowe’s Companies were worth $25,257,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of LOW. Register Financial Advisors LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at $62,000. Foguth Wealth Management LLC. acquired a new position in Lowe’s Companies in the 1st quarter valued at $236,000. Roberts Wealth Advisors LLC acquired a new position in Lowe’s Companies in the 1st quarter valued at $540,000. LVW Advisors LLC increased its stake in Lowe’s Companies by 7.2% in the 1st quarter. LVW Advisors LLC now owns 3,767 shares of the home improvement retailer’s stock valued at $960,000 after buying an additional 253 shares during the period. Finally, Successful Portfolios LLC acquired a new position in Lowe’s Companies in the 1st quarter valued at $214,000. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Lowe’s Companies

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

Lowe’s Companies Stock Down 1.4 %

Lowe’s Companies stock opened at $267.64 on Friday. Lowe’s Companies, Inc. has a 52 week low of $181.85 and a 52 week high of $287.01. The firm’s 50-day simple moving average is $260.81 and its 200 day simple moving average is $239.84. The firm has a market capitalization of $151.83 billion, a PE ratio of 22.19, a P/E/G ratio of 2.24 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate of $3.96 by $0.14. The business had revenue of $23.59 billion for the quarter, compared to analyst estimates of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $4.56 EPS. On average, research analysts expect that Lowe’s Companies, Inc. will post 11.91 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.72%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 38.14%.

Analyst Upgrades and Downgrades

LOW has been the topic of several recent research reports. JPMorgan Chase & Co. dropped their price objective on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and boosted their price objective for the company from $230.00 to $305.00 in a research note on Tuesday, September 24th. Gordon Haskett dropped their price objective on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research note on Wednesday, August 21st. Wedbush reissued a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. Finally, Melius Research began coverage on shares of Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 price objective on the stock. Eleven investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $270.60.

Lowe’s Companies Profile

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.