Trajan Wealth LLC Increases Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Trajan Wealth LLC increased its position in Lowe’s Companies, Inc. (NYSE:LOW) by 4.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 19,204 shares of the home improvement retailer’s stock after acquiring an additional 780 shares during the quarter. Trajan Wealth LLC’s holdings in Lowe’s Companies were worth $5,201,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in the company. Highview Capital Management LLC DE purchased a new stake in Lowe’s Companies in the 3rd quarter worth about $240,000. Lodestar Private Asset Management LLC purchased a new stake in Lowe’s Companies in the 3rd quarter worth about $204,000. Jacobsen Capital Management bought a new position in Lowe’s Companies in the 3rd quarter worth about $248,000. Fidelis Capital Partners LLC boosted its stake in Lowe’s Companies by 20.7% in the 3rd quarter. Fidelis Capital Partners LLC now owns 5,560 shares of the home improvement retailer’s stock worth $1,502,000 after purchasing an additional 954 shares during the period. Finally, Valmark Advisers Inc. boosted its stake in Lowe’s Companies by 1.6% in the 3rd quarter. Valmark Advisers Inc. now owns 11,553 shares of the home improvement retailer’s stock worth $3,129,000 after purchasing an additional 177 shares during the period. Hedge funds and other institutional investors own 74.06% of the company’s stock.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $262.99 on Wednesday. Lowe’s Companies, Inc. has a one year low of $183.79 and a one year high of $287.01. The stock has a market capitalization of $149.86 billion, a P/E ratio of 21.12, a price-to-earnings-growth ratio of 2.24 and a beta of 1.10. The business’s 50 day simple moving average is $261.76 and its two-hundred day simple moving average is $240.30.

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

Lowe’s Companies Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a dividend of $1.15 per share. The ex-dividend date is Wednesday, October 23rd. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.75%. Lowe’s Companies’s payout ratio is 36.95%.

Insider Activity

In other news, EVP Margrethe R. Vagell sold 5,730 shares of the business’s stock in a transaction that occurred on Wednesday, October 2nd. The stock was 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. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 sale, the executive vice president now owns 13,214 shares in the company, valued at $3,586,940.30. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on LOW. Bank of America raised their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Gordon Haskett cut their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating for the company in a research note on Wednesday, August 21st. JPMorgan Chase & Co. dropped their price target on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. TD Cowen lifted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “hold” rating in a research report on Monday. Finally, Oppenheimer upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Eleven equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $271.60.

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.