Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Bridges Investment Management Inc.

Bridges Investment Management Inc. boosted its holdings in shares of Lowe’s Companies, Inc. (NYSE:LOW) by 164.8% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 375,240 shares of the home improvement retailer’s stock after acquiring an additional 233,522 shares during the quarter. Lowe’s Companies comprises 1.3% of Bridges Investment Management Inc.’s holdings, making the stock its 22nd largest holding. Bridges Investment Management Inc. owned approximately 0.07% of Lowe’s Companies worth $82,725,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tidemark LLC acquired a new stake in Lowe’s Companies during the fourth quarter worth $27,000. Voisard Asset Management Group Inc. acquired a new stake in Lowe’s Companies during the fourth quarter worth $28,000. Transcendent Capital Group LLC acquired a new stake in shares of Lowe’s Companies in the fourth quarter valued at $31,000. Stephens Consulting LLC grew its stake in shares of Lowe’s Companies by 93.3% in the second quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after buying an additional 70 shares in the last quarter. Finally, Keener Financial Planning LLC acquired a new stake in shares of Lowe’s Companies in the first quarter valued at $35,000. Institutional investors and hedge funds own 74.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Wedbush reaffirmed a “neutral” rating and issued a $250.00 price objective on shares of Lowe’s Companies in a research note on Wednesday, August 21st. JPMorgan Chase & Co. dropped their price objective on Lowe’s Companies from $272.00 to $270.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Morgan Stanley lifted their price objective on Lowe’s Companies from $250.00 to $255.00 and gave the company an “overweight” rating in a research note on Wednesday, August 21st. TD Cowen lifted their price objective on Lowe’s Companies from $240.00 to $265.00 and gave the company a “hold” rating in a research note on Thursday. Finally, Bank of America dropped their price objective on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, August 21st. Thirteen equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $253.33.

Insider Activity at Lowe’s Companies

In related news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the business’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 transaction, the chief accounting officer now owns 9,383 shares in the company, valued at approximately $2,334,678.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Lowe’s Companies Price Performance

Shares of NYSE LOW opened at $261.01 on Friday. The company has a market capitalization of $148.73 billion, a price-to-earnings ratio of 20.96, a price-to-earnings-growth ratio of 2.03 and a beta of 1.10. The business has a 50-day moving average of $243.06 and a two-hundred day moving average of $235.27. Lowe’s Companies, Inc. has a 1 year low of $181.85 and a 1 year high of $262.49.

Lowe’s Companies (NYSE:LOW) last posted its earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 EPS for the quarter, topping 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 business had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. During the same quarter in the previous year, the firm earned $4.56 earnings per share. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, equities research 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. Stockholders of record on Wednesday, October 23rd will be given a dividend of $1.15 per share. 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 a boost from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s payout ratio is 36.95%.

Lowe’s Companies 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.