Lowe’s Companies, Inc. (NYSE:LOW) Shares Bought by Brighton Jones LLC

Brighton Jones LLC raised its holdings in Lowe’s Companies, Inc. (NYSE:LOW) by 1.5% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,503 shares of the home improvement retailer’s stock after purchasing an additional 279 shares during the period. Brighton Jones LLC’s holdings in Lowe’s Companies were worth $4,300,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in LOW. Intech Investment Management LLC increased its holdings in shares of Lowe’s Companies by 1.7% in the 2nd quarter. Intech Investment Management LLC now owns 17,829 shares of the home improvement retailer’s stock valued at $3,931,000 after acquiring an additional 298 shares during the last quarter. MQS Management LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter valued at approximately $882,000. Marathon Trading Investment Management LLC bought a new stake in shares of Lowe’s Companies in the 2nd quarter valued at approximately $661,000. Lokken Investment Group LLC increased its holdings in shares of Lowe’s Companies by 8.7% in the 2nd quarter. Lokken Investment Group LLC now owns 6,568 shares of the home improvement retailer’s stock valued at $1,448,000 after acquiring an additional 526 shares during the last quarter. Finally, Waterloo Capital L.P. increased its holdings in shares of Lowe’s Companies by 104.5% in the 2nd quarter. Waterloo Capital L.P. now owns 2,374 shares of the home improvement retailer’s stock valued at $523,000 after acquiring an additional 1,213 shares during the last quarter. 74.06% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 of the company’s stock, valued at approximately $2,334,678.06. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.26% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on LOW shares. Truist Financial boosted their price target on Lowe’s Companies from $265.00 to $269.00 and gave the company a “buy” rating in a report on Wednesday, August 21st. Evercore ISI upped their price objective on Lowe’s Companies from $225.00 to $250.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 21st. Piper Sandler lowered their price objective on Lowe’s Companies from $264.00 to $262.00 and set an “overweight” rating for the company in a research note on Wednesday, August 21st. Telsey Advisory Group restated a “market perform” rating and set a $230.00 price objective on shares of Lowe’s Companies in a research note on Tuesday, August 20th. Finally, StockNews.com upgraded Lowe’s Companies from a “hold” rating to a “buy” rating in a research note on Wednesday. Thirteen investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, Lowe’s Companies presently has an average rating of “Hold” and an average target price of $253.33.

Lowe’s Companies Price Performance

Shares of LOW stock opened at $261.01 on Friday. Lowe’s Companies, Inc. has a fifty-two week low of $181.85 and a fifty-two week high of $262.49. The stock’s 50-day moving average is $243.06 and its two-hundred day moving average is $235.27. The firm 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 (NYSE:LOW) last issued its 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. 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 for the quarter, compared to analyst estimates of $23.93 billion. During the same period in the prior year, the firm posted $4.56 EPS. The business’s revenue was down 5.5% compared to the same quarter last year. As a group, research analysts expect that Lowe’s Companies, Inc. will post 11.93 EPS for the current year.

Lowe’s Companies Increases Dividend

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

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.