Sanctuary Advisors LLC Invests $38.90 Million in Lowe’s Companies, Inc. (NYSE:LOW)

Sanctuary Advisors LLC acquired a new stake in Lowe’s Companies, Inc. (NYSE:LOW) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 169,244 shares of the home improvement retailer’s stock, valued at approximately $38,904,000.

A number of other hedge funds have also recently modified their holdings of the company. Voisard Asset Management Group Inc. purchased a new stake in shares of Lowe’s Companies during the 4th quarter valued at approximately $28,000. Transcendent Capital Group LLC acquired a new position in shares of Lowe’s Companies in the 4th quarter valued at $31,000. Stephens Consulting LLC lifted its stake in shares of Lowe’s Companies by 93.3% in the 2nd quarter. Stephens Consulting LLC now owns 145 shares of the home improvement retailer’s stock valued at $32,000 after purchasing an additional 70 shares during the last quarter. Keener Financial Planning LLC purchased a new position in shares of Lowe’s Companies during the 1st quarter worth $35,000. Finally, Kimelman & Baird LLC acquired a new stake in shares of Lowe’s Companies during the 2nd quarter worth about $37,000. Hedge funds and other 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 firm’s stock in a transaction that occurred 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 of the company’s stock, valued at approximately $2,334,678.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.26% of the stock is owned by corporate insiders.

Lowe’s Companies Price Performance

Shares of Lowe’s Companies stock opened at $272.65 on Wednesday. The stock has a market capitalization of $155.37 billion, a price-to-earnings ratio of 21.90, a PEG ratio of 2.15 and a beta of 1.10. Lowe’s Companies, Inc. has a 12 month low of $181.85 and a 12 month high of $274.16. The firm’s fifty day simple moving average is $247.52 and its 200-day simple moving average is $236.48.

Lowe’s Companies (NYSE:LOW) last issued its quarterly earnings results on Tuesday, August 20th. The home improvement retailer reported $4.10 earnings per share (EPS) for the quarter, beating 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 firm 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 posted $4.56 EPS. The firm’s revenue for the quarter was down 5.5% on a year-over-year basis. Analysts anticipate 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 disclosed a quarterly dividend, which will be paid on Wednesday, November 6th. Shareholders of record on Wednesday, October 23rd will be given 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 1.69%. This is an increase from Lowe’s Companies’s previous quarterly dividend of $0.15. Lowe’s Companies’s dividend payout ratio is presently 36.95%.

Analysts Set New Price Targets

Several brokerages have weighed in on LOW. Evercore ISI increased their target price on shares of 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. Gordon Haskett cut their target price on Lowe’s Companies from $245.00 to $240.00 and set a “hold” rating on the stock in a research report on Wednesday, August 21st. Bank of America lowered their target price on Lowe’s Companies from $280.00 to $275.00 and set a “buy” rating for the company in a report on Wednesday, August 21st. UBS Group boosted their price target on shares of Lowe’s Companies from $270.00 to $290.00 and gave the stock a “buy” rating in a research note on Wednesday, August 21st. Finally, Piper Sandler lifted their price objective on shares of Lowe’s Companies from $262.00 to $307.00 and gave the company an “overweight” rating in a report on Monday. Eleven research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat, Lowe’s Companies presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.00.

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.