Lowe’s Companies, Inc. (NYSE:LOW) Shares Acquired by Accent Capital Management LLC

Accent Capital Management LLC raised its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 110.7% in the third quarter, HoldingsChannel reports. The institutional investor owned 5,256 shares of the home improvement retailer’s stock after purchasing an additional 2,761 shares during the quarter. Lowe’s Companies accounts for about 0.8% of Accent Capital Management LLC’s portfolio, making the stock its 25th largest holding. Accent Capital Management LLC’s holdings in Lowe’s Companies were worth $1,424,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in LOW. International Assets Investment Management LLC raised its position 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 worth $578,256,000 after purchasing an additional 2,027,668 shares during the period. Strategic Financial Concepts LLC raised 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 buying an additional 1,199,100 shares during the period. Applied Finance Capital Management LLC lifted its stake in Lowe’s Companies by 387.7% during the third quarter. Applied Finance Capital Management LLC now owns 811,374 shares of the home improvement retailer’s stock valued at $219,761,000 after buying an additional 645,017 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in 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 buying an additional 493,180 shares in the last quarter. Finally, Marshall Wace LLP boosted its holdings in shares of Lowe’s Companies by 170.5% in the second quarter. Marshall Wace LLP now owns 735,633 shares of the home improvement retailer’s stock worth $162,178,000 after buying an additional 463,645 shares during the period. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on LOW shares. 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 report on Friday, October 11th. StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday, September 18th. UBS Group lifted their price target on Lowe’s Companies from $270.00 to $290.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. TD Cowen raised their price objective on Lowe’s Companies from $270.00 to $290.00 and gave the stock a “hold” rating in a research report on Monday, October 28th. Finally, Piper Sandler upped their target price on Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday, September 30th. Ten analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Lowe’s Companies has an average rating of “Moderate Buy” and a consensus target price of $273.84.

Lowe’s Companies Stock Down 0.4 %

Shares of LOW stock opened at $269.40 on Friday. The business’s 50 day moving average is $267.19 and its two-hundred day moving average is $243.62. Lowe’s Companies, Inc. has a 12 month low of $196.23 and a 12 month high of $287.01. The company has a market cap of $152.83 billion, a PE ratio of 22.34, a price-to-earnings-growth ratio of 2.21 and a beta of 1.10.

Lowe’s Companies (NYSE:LOW) last announced its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate of $23.93 billion. During the same quarter last year, the firm posted $4.56 EPS. The business’s quarterly revenue was down 5.5% on a year-over-year basis. As a group, equities analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

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

Insider Activity at Lowe’s Companies

In other 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 completion of the transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This trade represents a 41.91 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of the firm’s stock in a transaction dated Wednesday, October 2nd. The stock was 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 owns 13,214 shares of the company’s stock, valued at approximately $3,586,940.30. This represents a 30.25 % decrease in their position. The disclosure for this sale can be found here. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Company 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.