Vista Capital Partners Inc. Purchases New Shares in Lowe’s Companies, Inc. (NYSE:LOW)

Vista Capital Partners Inc. acquired a new position in shares of Lowe’s Companies, Inc. (NYSE:LOW) in the 3rd quarter, Holdings Channel.com reports. The fund acquired 755 shares of the home improvement retailer’s stock, valued at approximately $204,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of 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 worth $13,677,378,000 after buying an additional 2,674,372 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Lowe’s Companies by 1,889.7% in the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock valued at $578,256,000 after purchasing an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC increased its holdings in Lowe’s Companies by 20,275.6% during the 2nd quarter. Strategic Financial Concepts LLC now owns 1,205,014 shares of the home improvement retailer’s stock worth $2,657,000 after purchasing an additional 1,199,100 shares during the period. M&G Plc bought a new stake in shares of Lowe’s Companies in the first quarter valued at about $217,995,000. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of Lowe’s Companies by 36.6% in 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 purchasing an additional 493,180 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a report on Wednesday, August 21st. Bank of America lifted their target price on Lowe’s Companies from $275.00 to $305.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Telsey Advisory Group lifted their price objective on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Melius Research assumed coverage on Lowe’s Companies in a research note on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. Finally, Truist Financial lifted their price target on Lowe’s Companies from $306.00 to $307.00 and gave the company a “buy” rating in a research report on Thursday. Eleven research 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.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $272.24.

Insider Transactions at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of 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 sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’s stock in a transaction that occurred on 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 in the company, valued at $2,334,678.06. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction 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 completion of the sale, the executive vice president now owns 13,214 shares in the company, valued at approximately $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. Corporate insiders own 0.26% of the company’s stock.

Lowe’s Companies Trading Up 1.7 %

Shares of LOW stock opened at $266.30 on Friday. Lowe’s Companies, Inc. has a twelve month low of $189.05 and a twelve month high of $287.01. The stock has a market cap of $151.07 billion, a price-to-earnings ratio of 22.08, a PEG ratio of 2.18 and a beta of 1.10. The company’s 50-day moving average price is $263.77 and its 200-day moving average price is $241.67.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping 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 company had revenue of $23.59 billion during the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the business posted $4.56 earnings per share. The firm’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, equities research analysts predict that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd were issued a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 1.73%. The ex-dividend date was Wednesday, October 23rd. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is currently 38.14%.

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.