Lynch & Associates IN Buys 86 Shares of Lowe’s Companies, Inc. (NYSE:LOW)

Lynch & Associates IN boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 0.3% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,040 shares of the home improvement retailer’s stock after purchasing an additional 86 shares during the period. Lowe’s Companies comprises 1.4% of Lynch & Associates IN’s portfolio, making the stock its 22nd biggest holding. Lynch & Associates IN’s holdings in Lowe’s Companies were worth $6,782,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Clean Yield Group raised its holdings in shares of Lowe’s Companies by 2.4% in the 3rd quarter. Clean Yield Group now owns 1,599 shares of the home improvement retailer’s stock valued at $433,000 after purchasing an additional 38 shares during the period. Drive Wealth Management LLC raised its holdings in shares of Lowe’s Companies by 2.2% in the 2nd quarter. Drive Wealth Management LLC now owns 1,894 shares of the home improvement retailer’s stock valued at $418,000 after purchasing an additional 41 shares during the period. Chapin Davis Inc. raised its holdings in shares of Lowe’s Companies by 1.3% in the 3rd quarter. Chapin Davis Inc. now owns 3,082 shares of the home improvement retailer’s stock valued at $835,000 after purchasing an additional 41 shares during the period. Crown Wealth Group LLC raised its holdings in shares of Lowe’s Companies by 4.4% in the 2nd quarter. Crown Wealth Group LLC now owns 1,051 shares of the home improvement retailer’s stock valued at $232,000 after purchasing an additional 44 shares during the period. Finally, Pure Financial Advisors LLC raised its holdings in shares of Lowe’s Companies by 2.5% in the 2nd quarter. Pure Financial Advisors LLC now owns 1,813 shares of the home improvement retailer’s stock valued at $400,000 after purchasing an additional 45 shares during the period. Institutional investors own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on LOW shares. Wells Fargo & Company decreased their price target on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. TD Cowen upped their price target on shares of Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Thursday, September 19th. Bank of America upped their price target on shares of Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Piper Sandler upped their price target on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research note on Monday, September 30th. Finally, Evercore ISI upped their price target on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Eleven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies currently has a consensus rating of “Moderate Buy” and an average target price of $268.42.

Lowe’s Companies Price Performance

Shares of NYSE:LOW opened at $281.92 on Wednesday. The firm has a 50 day simple moving average of $254.51 and a 200 day simple moving average of $237.96. The company has a market cap of $160.65 billion, a price-to-earnings ratio of 22.64, a PEG ratio of 2.28 and a beta of 1.10. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $287.01.

Lowe’s Companies (NYSE:LOW) last released its quarterly 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. The firm had revenue of $23.59 billion during the quarter, compared to the consensus estimate of $23.93 billion. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. The company’s revenue for the quarter was down 5.5% on a year-over-year basis. During the same quarter last year, the firm earned $4.56 earnings per share. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.91 EPS for the current year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 1.63%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 36.95%.

Insiders Place Their Bets

In other Lowe’s Companies news, 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 directly owns 13,214 shares in the company, valued at approximately $3,586,940.30. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the firm’s 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 transaction, the executive vice president now directly owns 13,214 shares in the company, valued at $3,586,940.30. The trade was 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.

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.