Hoxton Planning & Management LLC Purchases New Holdings in Lowe’s Companies, Inc. (NYSE:LOW)

Hoxton Planning & Management LLC purchased a new stake in shares of Lowe’s Companies, Inc. (NYSE:LOW) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor purchased 1,493 shares of the home improvement retailer’s stock, valued at approximately $404,000.

Several other hedge funds also recently added to or reduced their stakes in the company. 1832 Asset Management L.P. grew its stake in Lowe’s Companies by 107.9% in the 4th quarter. 1832 Asset Management L.P. now owns 447 shares of the home improvement retailer’s stock worth $99,000 after acquiring an additional 232 shares in the last quarter. MGO One Seven LLC lifted its position in shares of Lowe’s Companies by 42.2% in the 4th quarter. MGO One Seven LLC now owns 17,428 shares of the home improvement retailer’s stock worth $3,879,000 after purchasing an additional 5,172 shares during the period. Rench Wealth Management Inc. purchased a new stake in shares of Lowe’s Companies in the 4th quarter worth approximately $466,000. Vista Investment Management lifted its position in shares of Lowe’s Companies by 2.4% in the 4th quarter. Vista Investment Management now owns 11,586 shares of the home improvement retailer’s stock worth $2,579,000 after purchasing an additional 271 shares during the period. Finally, Ethic Inc. lifted its position in shares of Lowe’s Companies by 1.1% in the 4th quarter. Ethic Inc. now owns 34,827 shares of the home improvement retailer’s stock worth $7,751,000 after purchasing an additional 390 shares during the period. 74.06% of the stock is currently owned by institutional investors.

Lowe’s Companies Trading Up 1.8 %

NYSE:LOW opened at $273.27 on Wednesday. The company’s 50-day moving average price is $250.19 and its 200-day moving average price is $237.01. The company has a market cap of $155.72 billion, a P/E ratio of 21.95, a P/E/G ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a twelve month low of $181.85 and a twelve month high of $274.26.

Lowe’s Companies (NYSE:LOW) last posted its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, topping the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to the consensus estimate 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 period last year, the firm posted $4.56 earnings per share. On average, analysts expect that Lowe’s Companies, Inc. will post 11.93 earnings per share for the current 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 paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Wednesday, October 23rd. This is an increase 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 1.68%. Lowe’s Companies’s payout ratio is 36.95%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, August 21st. Oppenheimer raised shares of Lowe’s Companies from a “market perform” rating to an “outperform” rating and increased their target price for the company from $230.00 to $305.00 in a research report on Tuesday, September 24th. Morgan Stanley raised their price target on shares of Lowe’s Companies from $250.00 to $255.00 and gave the stock an “overweight” rating in a report on Wednesday, August 21st. Melius Research initiated coverage on shares of Lowe’s Companies in a report on Monday, September 23rd. They issued a “buy” rating and a $290.00 price target for the company. Finally, Truist Financial increased their price objective on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Twelve investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Lowe’s Companies has a consensus rating of “Moderate Buy” and a consensus price target of $263.54.

Insiders Place Their Bets

In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 transaction, the chief accounting officer now directly owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other Lowe’s Companies news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of Lowe’s Companies 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 sale, the chief accounting officer now directly owns 9,383 shares in the company, valued at $2,334,678.06. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Margrethe R. Vagell sold 5,730 shares of Lowe’s Companies 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 sale, the executive vice president now owns 13,214 shares of the company’s stock, valued at approximately $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 insiders.

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.