Triton Wealth Management PLLC Raises Stock Position in Lowe’s Companies, Inc. (NYSE:LOW)

Triton Wealth Management PLLC boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 5.0% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,274 shares of the home improvement retailer’s stock after buying an additional 109 shares during the quarter. Triton Wealth Management PLLC’s holdings in Lowe’s Companies were worth $622,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in LOW. Private Client Services LLC increased its holdings in Lowe’s Companies by 7.1% during the 3rd quarter. Private Client Services LLC now owns 1,181 shares of the home improvement retailer’s stock worth $320,000 after purchasing an additional 78 shares during the period. Wiser Wealth Management Inc acquired a new stake in Lowe’s Companies in the third quarter valued at approximately $225,000. Curbstone Financial Management Corp lifted its stake in Lowe’s Companies by 8.4% in the third quarter. Curbstone Financial Management Corp now owns 3,256 shares of the home improvement retailer’s stock worth $882,000 after acquiring an additional 252 shares during the last quarter. Czech National Bank increased its position in shares of Lowe’s Companies by 6.5% in the 3rd quarter. Czech National Bank now owns 116,081 shares of the home improvement retailer’s stock valued at $31,441,000 after purchasing an additional 7,044 shares during the last quarter. Finally, AMF Tjanstepension AB raised its holdings in shares of Lowe’s Companies by 14.4% in the 3rd quarter. AMF Tjanstepension AB now owns 159,742 shares of the home improvement retailer’s stock valued at $43,290,000 after purchasing an additional 20,123 shares in the last quarter. Hedge funds and other institutional investors own 74.06% of the company’s stock.

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 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 transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, EVP Margrethe R. Vagell sold 5,730 shares of the company’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 completion of the transaction, the executive vice president now owns 13,214 shares of the company’s stock, valued at $3,586,940.30. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the stock in a transaction dated 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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.

Lowe’s Companies Price Performance

Shares of NYSE LOW traded down $2.45 on Friday, hitting $267.76. The company’s stock had a trading volume of 2,245,752 shares, compared to its average volume of 2,478,539. The stock has a 50 day moving average of $249.61 and a 200-day moving average of $237.13. The company has a market capitalization of $152.58 billion, a price-to-earnings ratio of 21.51, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12-month low of $181.85 and a 12-month high of $274.16.

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, beating analysts’ consensus estimates of $3.96 by $0.14. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the prior year, the firm earned $4.56 EPS. Lowe’s Companies’s quarterly revenue was down 5.5% on a year-over-year basis. Sell-side analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The company also recently announced 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 1.72%. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. The ex-dividend date is Wednesday, October 23rd. Lowe’s Companies’s dividend payout ratio is 36.95%.

Analysts Set New Price Targets

LOW has been the topic of several recent analyst reports. Melius Research assumed coverage on Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 target price on the stock. Truist Financial boosted their target price on Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Royal Bank of Canada dropped their price target on shares of Lowe’s Companies from $245.00 to $238.00 and set a “sector perform” rating on the stock in a research note on Wednesday, August 21st. Evercore ISI boosted their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 21st. Finally, Loop Capital upped their price objective on shares of Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a research note on Wednesday. Twelve investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $263.54.

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.