Lowe’s Companies, Inc. (NYSE:LOW) Stock Holdings Lifted by Eastover Investment Advisors LLC

Eastover Investment Advisors LLC boosted its position in Lowe’s Companies, Inc. (NYSE:LOW) by 4.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 29,236 shares of the home improvement retailer’s stock after purchasing an additional 1,239 shares during the period. Lowe’s Companies comprises 3.7% of Eastover Investment Advisors LLC’s portfolio, making the stock its 10th biggest holding. Eastover Investment Advisors LLC’s holdings in Lowe’s Companies were worth $7,919,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. raised its stake in shares of Lowe’s Companies by 5.2% in the first quarter. Vanguard Group Inc. now owns 53,693,630 shares of the home improvement retailer’s stock worth $13,677,378,000 after buying an additional 2,674,372 shares during the period. Legal & General Group Plc raised its stake in shares of Lowe’s Companies by 1.6% in the second quarter. Legal & General Group Plc now owns 5,205,491 shares of the home improvement retailer’s stock worth $1,147,603,000 after buying an additional 82,978 shares during the period. Price T Rowe Associates Inc. MD raised its stake in shares of Lowe’s Companies by 36.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 1,840,704 shares of the home improvement retailer’s stock worth $468,884,000 after buying an additional 493,180 shares during the period. Envestnet Asset Management Inc. raised its stake in Lowe’s Companies by 6.0% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,617,849 shares of the home improvement retailer’s stock valued at $356,671,000 after purchasing an additional 90,945 shares during the period. Finally, The Manufacturers Life Insurance Company raised its stake in Lowe’s Companies by 11.1% during the 2nd 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 purchasing an additional 149,649 shares during the period. 74.06% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on LOW shares. Bank of America decreased their target price 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. Loop Capital lifted their target price on Lowe’s Companies from $230.00 to $250.00 and gave the company a “hold” rating in a research note on Wednesday, October 2nd. Truist Financial lifted their target price on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a research note on Wednesday, August 21st. Telsey Advisory Group lifted their target price on Lowe’s Companies from $230.00 to $275.00 and gave the company a “market perform” rating in a research note on Wednesday, October 2nd. Finally, JPMorgan Chase & Co. decreased their target price on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 21st. Twelve equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $263.54.

Lowe’s Companies Stock Performance

Shares of Lowe’s Companies stock opened at $268.54 on Tuesday. The stock has a market cap of $153.02 billion, a price-to-earnings ratio of 21.57, a price-to-earnings-growth ratio of 2.15 and a beta of 1.10. The stock has a 50 day moving average price of $249.61 and a 200-day moving average price of $236.95. Lowe’s Companies, Inc. has a one year low of $181.85 and a one year high of $274.16.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings data on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (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 company had revenue of $23.59 billion during the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the previous year, the business earned $4.56 EPS. Lowe’s Companies’s revenue was down 5.5% compared to the same quarter last year. Sell-side analysts predict that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current fiscal year.

Lowe’s Companies Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Investors of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This represents a $4.60 dividend on an annualized basis and a yield of 1.71%. This is a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is presently 36.95%.

Insider Activity at Lowe’s Companies

In other Lowe’s Companies news, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction 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 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’s stock in a transaction on 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 directly owns 9,383 shares in the company, valued at approximately $2,334,678.06. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Margrethe R. Vagell sold 5,730 shares of the company’s stock in a transaction 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 completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 0.26% of the stock is owned by company 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.