Lowe’s Companies, Inc. (NYSE:LOW) Stake Raised by Bank of Hawaii

Bank of Hawaii increased its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,091 shares of the home improvement retailer’s stock after buying an additional 82 shares during the quarter. Bank of Hawaii’s holdings in Lowe’s Companies were worth $1,379,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Stephens Consulting LLC grew its position in Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. JNBA Financial Advisors lifted its stake in shares of Lowe’s Companies by 555.6% in the 3rd quarter. JNBA Financial Advisors now owns 118 shares of the home improvement retailer’s stock worth $32,000 after acquiring an additional 100 shares during the period. MFA Wealth Advisors LLC boosted its holdings in shares of Lowe’s Companies by 118.6% in the third quarter. MFA Wealth Advisors LLC now owns 129 shares of the home improvement retailer’s stock valued at $35,000 after acquiring an additional 70 shares in the last quarter. Kimelman & Baird LLC acquired a new position in shares of Lowe’s Companies during the second quarter valued at approximately $37,000. Finally, Tsfg LLC increased its stake in shares of Lowe’s Companies by 128.2% during the third quarter. Tsfg LLC now owns 178 shares of the home improvement retailer’s stock valued at $48,000 after acquiring an additional 100 shares during the period. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Lowe’s Companies

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the stock in a transaction that occurred 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 transaction, the executive vice president now owns 13,214 shares in the company, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 sale, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. This trade represents 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 company insiders.

Lowe’s Companies Price Performance

NYSE LOW opened at $264.68 on Monday. The firm has a market capitalization of $150.15 billion, a price-to-earnings ratio of 22.08, a price-to-earnings-growth ratio of 2.22 and a beta of 1.10. The company has a 50 day simple moving average of $268.74 and a 200-day simple moving average of $244.92. Lowe’s Companies, Inc. has a 52-week low of $196.23 and a 52-week high of $287.01.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd were issued a dividend of $1.15 per share. 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 1.74%. The ex-dividend date of this dividend was Wednesday, October 23rd. Lowe’s Companies’s payout ratio is currently 38.37%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on LOW. Melius Research assumed coverage on Lowe’s Companies in a research note on Monday, September 23rd. They set a “buy” rating and a $290.00 price target for the company. Bank of America raised their target price on Lowe’s Companies from $275.00 to $305.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Gordon Haskett dropped their price target on shares of Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Piper Sandler raised their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a research report on Monday, September 30th. Finally, Sanford C. Bernstein dropped their target price on shares of Lowe’s Companies from $306.00 to $301.00 and set an “outperform” rating on the stock in a report on Wednesday, November 20th. Ten analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $277.92.

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.