Bristol Gate Capital Partners Inc. Has $81.40 Million Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Bristol Gate Capital Partners Inc. reduced its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 5.2% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 369,223 shares of the home improvement retailer’s stock after selling 20,125 shares during the quarter. Lowe’s Companies comprises 4.0% of Bristol Gate Capital Partners Inc.’s portfolio, making the stock its 22nd biggest holding. Bristol Gate Capital Partners Inc. owned approximately 0.06% of Lowe’s Companies worth $81,399,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in LOW. Tidemark LLC bought a new position in shares of Lowe’s Companies during the 4th quarter worth about $27,000. Voisard Asset Management Group Inc. acquired a new position in shares of Lowe’s Companies in the fourth quarter valued at $28,000. Transcendent Capital Group LLC bought a new position in Lowe’s Companies in the fourth quarter worth $31,000. Stephens Consulting LLC boosted its stake in Lowe’s Companies by 93.3% during the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 70 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new position in shares of Lowe’s Companies in the 1st quarter valued at $35,000. 74.06% of the stock is currently owned by institutional investors.

Insider Transactions at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $248.82, for a total value of $1,684,262.58. Following the completion of the sale, the chief accounting officer now owns 9,383 shares in the company, valued at $2,334,678.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Stock Up 1.7 %

LOW stock opened at $261.01 on Friday. The business has a fifty day moving average of $243.06 and a 200-day moving average of $235.27. The company has a market cap of $148.73 billion, a P/E ratio of 20.96, a PEG ratio of 2.03 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $262.49.

Lowe’s Companies (NYSE:LOW) last issued its 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 company 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 8.25% 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 EPS. As a group, equities research analysts anticipate that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Stockholders of record on Wednesday, October 23rd will be paid a $1.15 dividend. The ex-dividend date is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.76%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on LOW shares. Wells Fargo & Company decreased their target price on shares of Lowe’s Companies from $290.00 to $280.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 21st. Truist Financial increased their target price on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Bank of America decreased their price target on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, August 21st. StockNews.com raised Lowe’s Companies from a “hold” rating to a “buy” rating in a report on Wednesday. Finally, Piper Sandler lowered their target price on shares of Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating on the stock in a report on Wednesday, August 21st. Thirteen research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average target price of $253.33.

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.