Turtle Creek Wealth Advisors LLC Grows Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Turtle Creek Wealth Advisors LLC raised its stake in Lowe’s Companies, Inc. (NYSE:LOW) by 3.7% during the 3rd quarter, HoldingsChannel reports. The firm owned 17,788 shares of the home improvement retailer’s stock after acquiring an additional 641 shares during the quarter. Turtle Creek Wealth Advisors LLC’s holdings in Lowe’s Companies were worth $4,818,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the business. Legal & General Group Plc grew its stake in shares of Lowe’s Companies by 1.6% during 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 acquiring an additional 82,978 shares in the last quarter. International Assets Investment Management LLC grew its stake in shares of 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 valued at $578,256,000 after acquiring an additional 2,027,668 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake 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 valued at $468,884,000 after acquiring an additional 493,180 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in shares of Lowe’s Companies by 6.0% during the second quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after acquiring an additional 90,945 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Lowe’s Companies by 11.1% during the second quarter. The Manufacturers Life Insurance Company now owns 1,499,015 shares of the home improvement retailer’s stock valued at $330,473,000 after acquiring an additional 149,649 shares in the last quarter. 74.06% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on LOW. Stifel Nicolaus raised their target price on Lowe’s Companies from $250.00 to $260.00 and gave the company a “hold” rating in a research note on Monday, November 11th. Telsey Advisory Group upgraded Lowe’s Companies from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $275.00 to $305.00 in a research note on Friday, November 8th. Sanford C. Bernstein assumed coverage on Lowe’s Companies in a research note on Tuesday, October 22nd. They issued an “outperform” rating and a $323.00 price target for the company. Truist Financial lifted their price target on Lowe’s Companies from $306.00 to $307.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Finally, 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 price target for the company. Ten investment analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $273.84.

Lowe’s Companies Price Performance

Shares of NYSE LOW traded down $0.95 during midday trading on Friday, reaching $269.40. 2,264,979 shares of the company traded hands, compared to its average volume of 2,439,940. The stock has a 50-day moving average price of $267.19 and a 200 day moving average price of $243.51. The company has a market cap of $152.83 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 2.24 and a beta of 1.10. Lowe’s Companies, Inc. has a 52 week low of $196.23 and a 52 week high of $287.01.

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 for the quarter, topping analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a net margin of 8.25% and a negative return on equity of 47.07%. 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 EPS. The business’s revenue for the quarter was down 5.5% compared to the same quarter last year. As a group, analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd were paid a dividend of $1.15 per share. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. This represents a $4.60 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio (DPR) is presently 38.14%.

Insider Activity

In related news, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction that occurred on 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 stock was 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 approximately $2,334,678.06. This trade represents a 41.91 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by insiders.

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.