Premier Fund Managers Ltd Raises Stock Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Premier Fund Managers Ltd lifted its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 275,438 shares of the home improvement retailer’s stock after buying an additional 4,300 shares during the period. Lowe’s Companies makes up approximately 2.6% of Premier Fund Managers Ltd’s holdings, making the stock its 5th largest holding. Premier Fund Managers Ltd’s holdings in Lowe’s Companies were worth $73,575,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Crew Capital Management Ltd. increased its stake in shares of Lowe’s Companies by 1.0% during the third quarter. Crew Capital Management Ltd. now owns 3,873 shares of the home improvement retailer’s stock valued at $1,049,000 after buying an additional 37 shares during the period. Summit Place Financial Advisors LLC raised its stake in Lowe’s Companies by 2.8% in the third quarter. Summit Place Financial Advisors LLC now owns 1,375 shares of the home improvement retailer’s stock worth $372,000 after buying an additional 37 shares in the last quarter. Clean Yield Group lifted its holdings in Lowe’s Companies by 2.4% in the third quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock worth $433,000 after buying an additional 38 shares during the period. Mitchell Mcleod Pugh & Williams Inc. boosted its position in Lowe’s Companies by 0.5% during the 3rd quarter. Mitchell Mcleod Pugh & Williams Inc. now owns 7,460 shares of the home improvement retailer’s stock valued at $2,021,000 after acquiring an additional 40 shares in the last quarter. Finally, Drive Wealth Management LLC grew its holdings in shares of Lowe’s Companies by 2.2% during the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock worth $418,000 after acquiring an additional 41 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the 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 41.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 value of $1,555,408.50. Following the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several brokerages recently commented on LOW. UBS Group increased their price objective on shares of Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a research report on Wednesday, August 21st. TD Cowen upped their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday, October 28th. Truist Financial lifted their target price on Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Morgan Stanley boosted their price target on Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a research note on Wednesday, August 21st. Finally, StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Ten equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $273.84.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $259.23 on Wednesday. The company has a market capitalization of $147.06 billion, a P/E ratio of 21.50, a P/E/G ratio of 2.21 and a beta of 1.10. Lowe’s Companies, Inc. has a 1-year low of $196.23 and a 1-year high of $287.01. The firm’s 50 day simple moving average is $267.97 and its two-hundred day simple moving average is $244.23.

Lowe’s Companies (NYSE:LOW) last released its 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. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the previous year, the company earned $4.56 EPS. Lowe’s Companies’s revenue for the quarter was down 5.5% on a year-over-year basis. On average, sell-side analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were paid a $1.15 dividend. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.77%. Lowe’s Companies’s dividend payout ratio is 38.14%.

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.