LPL Financial LLC Purchases 30,740 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

LPL Financial LLC boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 3.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 813,617 shares of the home improvement retailer’s stock after purchasing an additional 30,740 shares during the period. LPL Financial LLC owned 0.14% of Lowe’s Companies worth $220,368,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Legal & General Group Plc lifted its holdings in shares of Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock valued at $1,147,603,000 after purchasing an additional 82,978 shares in the last quarter. Ontario Teachers Pension Plan Board lifted its stake in Lowe’s Companies by 1.6% during the third quarter. Ontario Teachers Pension Plan Board now owns 2,343,365 shares of the home improvement retailer’s stock worth $634,700,000 after purchasing an additional 36,054 shares during the last quarter. International Assets Investment Management LLC lifted its stake in Lowe’s Companies by 1,889.7% during the third quarter. International Assets Investment Management LLC now owns 2,134,969 shares of the home improvement retailer’s stock worth $578,256,000 after purchasing an additional 2,027,668 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Lowe’s Companies by 36.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after buying an additional 493,180 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in Lowe’s Companies by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock worth $356,671,000 after acquiring an additional 90,945 shares during the period. 74.06% of the stock is owned by institutional investors and hedge funds.

Lowe’s Companies Price Performance

Lowe’s Companies stock opened at $265.50 on Friday. Lowe’s Companies, Inc. has a 1 year low of $196.23 and a 1 year high of $287.01. The stock has a market cap of $150.62 billion, a price-to-earnings ratio of 22.14, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The firm has a 50-day moving average of $268.56 and a two-hundred day moving average of $244.50.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 8.19% and a negative return on equity of 47.55%. Lowe’s Companies’s revenue for the quarter was down 5.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.56 EPS. Research analysts expect that Lowe’s Companies, Inc. will post 11.82 earnings per share for the current 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 issued a $1.15 dividend. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 annualized dividend and a dividend yield of 1.73%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 38.37%.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Wedbush reissued a “neutral” rating and set a $250.00 price objective on shares of Lowe’s Companies in a research report on Wednesday, August 21st. Royal Bank of Canada lifted their price objective on shares of Lowe’s Companies from $290.00 to $291.00 and gave the stock a “sector perform” rating in a report on Wednesday. UBS Group boosted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. JPMorgan Chase & Co. reduced their price target on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Finally, Evercore ISI upped their price objective on shares of Lowe’s Companies from $255.00 to $270.00 and gave the stock an “in-line” rating in a report on Wednesday. Ten equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $277.92.

Insider Buying and Selling

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’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 completion of the sale, the executive vice president now directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s stock in a transaction dated 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 owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. The trade was a 41.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is currently owned by insiders.

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.