Quarry LP Has $195,000 Stake in Lowe’s Companies, Inc. (NYSE:LOW)

Quarry LP raised its position in Lowe’s Companies, Inc. (NYSE:LOW) by 248.0% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 884 shares of the home improvement retailer’s stock after acquiring an additional 630 shares during the period. Quarry LP’s holdings in Lowe’s Companies were worth $195,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Voisard Asset Management Group Inc. bought a new position in shares of Lowe’s Companies during the fourth quarter valued at about $28,000. Transcendent Capital Group LLC purchased a new stake in Lowe’s Companies during the fourth quarter valued at about $31,000. Stephens Consulting LLC lifted its stake in shares of Lowe’s Companies by 93.3% during the 2nd 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. Keener Financial Planning LLC bought a new position in shares of Lowe’s Companies in the first quarter worth $35,000. Finally, Raleigh Capital Management Inc. grew its holdings in Lowe’s Companies by 48.8% during the 4th quarter. Raleigh Capital Management Inc. now owns 183 shares of the home improvement retailer’s stock valued at $41,000 after buying an additional 60 shares in the last quarter. Institutional investors own 74.06% of the company’s stock.

Insider Buying and Selling at Lowe’s Companies

In other news, CAO Dan Clayton Griggs, Jr. sold 6,769 shares of the company’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 completion of the transaction, the chief accounting officer now owns 9,383 shares of the company’s stock, valued at $2,334,678.06. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.26% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on LOW shares. Truist Financial upped their price target on shares of Lowe’s Companies from $265.00 to $269.00 and gave the stock a “buy” rating in a report on Wednesday, August 21st. Bank of America cut their price objective on shares of 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. JPMorgan Chase & Co. decreased their price target 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. Evercore ISI upped their price objective on shares of Lowe’s Companies from $225.00 to $250.00 and gave the company an “in-line” rating in a research note on Wednesday, August 21st. Finally, Wedbush reiterated a “neutral” rating and issued a $250.00 price target on shares of Lowe’s Companies in a report on Wednesday, August 21st. Eleven 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, the company has a consensus rating of “Moderate Buy” and an average target price of $260.00.

Lowe’s Companies Trading Up 1.4 %

Lowe’s Companies stock opened at $270.85 on Tuesday. The firm has a market cap of $154.34 billion, a price-to-earnings ratio of 21.76, a PEG ratio of 2.15 and a beta of 1.10. The stock has a fifty day simple moving average of $246.83 and a two-hundred day simple moving average of $236.29. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $271.27.

Lowe’s Companies (NYSE:LOW) last released its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share for the quarter, beating the consensus estimate of $3.96 by $0.14. The firm had revenue of $23.59 billion for the quarter, compared to analysts’ expectations of $23.93 billion. Lowe’s Companies had a negative return on equity of 47.07% and a net margin of 8.25%. The company’s revenue was down 5.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $4.56 EPS. On average, equities research analysts forecast that Lowe’s Companies, Inc. will post 11.93 EPS for the current fiscal year.

Lowe’s Companies Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be issued a dividend of $1.15 per share. This represents a $4.60 annualized dividend and a yield of 1.70%. The ex-dividend date of this dividend is Wednesday, October 23rd. This is a positive change from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s 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.