Novare Capital Management LLC Acquires 215 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Novare Capital Management LLC increased its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 46,361 shares of the home improvement retailer’s stock after buying an additional 215 shares during the quarter. Novare Capital Management LLC’s holdings in Lowe’s Companies were worth $12,557,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its position in Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock valued at $13,677,378,000 after purchasing an additional 2,674,372 shares during the last quarter. Strategic Financial Concepts LLC raised its position in Lowe’s Companies by 20,275.6% in the second quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock valued at $2,657,000 after purchasing an additional 1,199,100 shares during the last quarter. M&G Plc bought a new position in Lowe’s Companies in the first quarter valued at about $217,995,000. Price T Rowe Associates Inc. MD raised its position in Lowe’s Companies by 36.6% in the first 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 purchasing an additional 493,180 shares during the last quarter. Finally, Marshall Wace LLP raised its position in Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock valued at $162,178,000 after purchasing an additional 463,645 shares during the last quarter. 74.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have commented on LOW shares. Bank of America increased their target price on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research report on Friday. UBS Group raised their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research report on Wednesday, August 21st. TD Cowen raised their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the stock a “hold” rating in a research report on Thursday, September 19th. Wells Fargo & Company lowered their price objective on Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Finally, Loop Capital upgraded Lowe’s Companies from a “hold” rating to a “buy” rating and raised their price objective for the stock from $250.00 to $300.00 in a research report on Wednesday, October 9th. Eleven analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus price target of $268.42.

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on 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 of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction that occurred on 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 of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

Lowe’s Companies Stock Performance

Lowe’s Companies stock traded up $3.40 during mid-day trading on Monday, reaching $279.16. The stock had a trading volume of 305,037 shares, compared to its average volume of 2,453,959. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $279.16. The stock’s 50-day simple moving average is $252.80 and its 200-day simple moving average is $237.58. The firm has a market capitalization of $159.08 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 2.28 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, beating analysts’ consensus estimates of $3.96 by $0.14. The firm had revenue of $23.59 billion during 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 company’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter last year, the firm posted $4.56 earnings per share. On average, research analysts forecast that Lowe’s Companies, Inc. will post 11.91 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 annualized dividend and a dividend yield of 1.65%. Lowe’s Companies’s payout ratio is presently 36.95%.

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.